UBA Reaffirms Readiness to Fund Large Transactions in Kenya

By Dipo Olowookere

Newly appointed United Bank for Africa (UBA) CEO for East and Southern Africa, Mr Emeke Iweriebor, has expressed the lender’s capability to finance huge transactions in the East Africa’s largest economy through its Kenyan franchise.

Addressing newsmen on Thursday at the Intercontinental Hotel in Nairobi, Mr Iweriebor said players in both the public and private sectors have nothing to about as the leading pan-African financial institution with operations in 20 African countries was ready and committed to finance key projects and business transactions capable of galvanising the economic development of the country and upscale the standard of living of its people.

According to him, with the realignment of the Group’s strategy on the region, UBA, with an asset base worth over $12 billion and presence in key financial capitals, London, New York and Paris, was capacitated to support its customers and their businesses across the world, especially those from Kenya.

“UBA Group has strong confidence in Kenya and East Africa as their economies have great potential for growth and development.

“Consequently, we in UBA Group are convinced that it’s imperative that we dedicate resources, manpower and time to our operations in Kenya, and East African and Southern Africa. That is why we created the region, with the regional office, in Nairobi,” Mr Iweriebor told reporters.

Mr Iweriebor, who is also an Executive Director at UBA Group, while outlining areas of possible interventions by the bank, said that lender and its Kenyan franchise were ready to help the Governments of Kenya in its Big Four Agenda, especially as it concerns infrastructural development, health facilities and housing and increasing the manufacturing base of the country.

He also indicated the Bank’s readiness to support SMEs, which according to him is the catalyst to a sustainable economic development and eradication of poverty. “UBA wants to replicate the interventions we have undertaken in some African countries, in provision of financial support to power and energy sectors, road infrastructure, agriculture, small, medium and large enterprises and entrepreneurship,” Iweriebor said.

He added that UBA, leads innovation in banking in Africa and utilizes digital solutions to support financial inclusion and business activities of individual, SMEs and corporates, highlighting that currently more than 80% of the bank’s transactions are processed through digital and electronic channels.

Also speaking at the media event, Managing Director/CEO, UBA Kenya, Mr Isaac Mwige, corroborated Iweriebor, saying that UBA Kenya, leveraging on the Group’s pre-eminence financial standings has capabilities to finance transactions in Kenya, saying he is encouraged by the recent engagements with both private and public sectors in Kenya.

“UBA Kenya wants to become more involved in the lives of individuals and businesses of people of Kenya by providing tailor-made products and services that are targeted at all segments of Kenyan economy,”

“Just recently, UBA Group signed agreements with some international institutions to support Macro and small-scale businesses across Africa, we want to see businesses in Kenya taking advantage of such opportunities,” Mr Isaac said.