According to a statement from United Bank for Africa Plc (UBA), all of its African subsidiaries are now stable since they have been significantly boosting the group’s profit margin.
In particular, the bank’s activities in Africa makes about 50% of the group’s profits. That bank is exploiting digital solutions and products across the board to capture significant market shares in all of Africa’s operational areas.
Abiola Bawuah, the Executive Director and Chief Executive Officer (CEO) of UBA Africa, highlighted that the bank’s subsidiaries have been operating profitably despite devaluations and inflation. The bank is helping to advance commerce, infrastructure, and finance across the continent.
Bawuah, a Ghanaian citizen, was chosen as the first female CEO of UBA Africa, highlighting the bank’s commitment to diversity and the need for government control of the private sector. She voiced her concerns at the Africa Day/UBA Conversations event in Lagos, advocating for government regulation of the private sector.
She said; UBA is providing facility programmes for consumers in the corporate sector, such as the Small and Medium Enterprises (SME), Micro, Small, and Medium Enterprises (MSME). UBA is willing to support MSMEs, even if they do not have collateral, as long as they are faithful to them and have run the enterprise well.
Africa must develop the private sector, and 60% of it is SMEs or MSMEs. The CEO also mentioned that the business planned to use technology to further promote trade in Africa.
In a similar spirit, Alero Ladipo, Group Marketing Head at UBA, stated that technology is the main platform on which commerce might be promoted.