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   Market Date: 27-01-2015   
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UBA makes first Southern African market entry in Zambia

Category: Capital Market

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UBA makes first Southern African market entry in Zambia


United Bank for Africa Plc, has announced the opening of its Zambian operations - the first Southern African business unit for the group.



Disclosing this in a statement on Saturday, UBA said the establishment of a full banking presence in Zambia further emphasised the group‘s vision of bringing world class banking services to all regions within the sub-Saharan Africa, following its successful operations in Kenya, Uganda and Tanzania.



The statement said UBA had over the past years rapidly expanded its network, positioning itself as the bank of choice for wholesale and retail clients in Africa and Africa related businesses, demonstrating in action its positioning as ”Africa ‘s Global Bank.”



According to the statement, ” This physical expansion has been matched by the launch of a series of products designed specifically to address the key needs of African clients, whether individuals, companies or governments, in facilitating money transfer and cash management, trade finance and access to credit.”



UBA has for long commenced business in the country last week, following approval by Bank of Zambia and other relevant regulatory authorities.



According to the Chief Executive Officer, UBA Africa, Mr Rasheed Olaoluwa, the Group‘s Zambian operations have been strategically positioned to provide comprehensive financial services to support corporate and retail customers in Zambia and allow them to access UBA‘s African and global network and product range.



”Thanks to our recent rapid expansion across the region and our growing strategic capabilities, we are now well positioned to provide unique products and services leveraging our cross border network - we want to provide services that are truly relevant to all Zambians and Zambia businesses,” he said.



UBA Zambia will implement a well-tested strategy of bringing innovative products across to a wide variety of client segments.



(Source: Punch)

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