Pan-African Subsidiaries’ 40% Contribution to Total Revenue Excites UBA
By Modupe Gbadeyanka
The board and management of United Bank for Africa (UBA) Plc have expressed their satisfaction with the contribution of its pan-Africa subsidiaries to the group’s total revenue.
In view of this, they have approved the appointments of Rokia Hacko, Chioma Mang, Chinedu Obeta, Bode Aregbesola, Kingsley Ulinfun and Usman Isiaka as CEOs of arms in Mali, Uganda, Zambia, Senegal, Tanzania and Sierra Leone respectively.
UBA boasts of 20 subsidiaries across Africa and according to its Chairman, Mr Tony Elumelu, the group’s pan-African businesses are currently responsible for over 40 per cent of total group revenue.
In a statement issued by the lender, he was quoted as saying that, “The appointments further reflect the strong growth of the group’s pan-African businesses, currently responsible for over 40 per cent of total group revenue and the increasing importance of our international businesses in London, Paris and New York, offering superior treasury, trading and corporate banking solutions to clients globally.”
“We are committed to catalysing growth on the African continent and the new CEOs are taking up roles at a very exciting period, as the Group executes its innovative digital play across the African continent,” he assured.
Business Post reports that the appointments of the new CEOs, which are expected to drive the group’s strategy and activities, are subject to regulatory approvals.
Earlier this month, UBA announced the appointments of Ayoku Liadi and Oliver Alawuba respectively, as Deputy Managing Directors in charge of the Group’s Nigeria and Africa businesses, attesting to the importance of UBA’s African business and its strategic positioning as Africa’s Global Bank.
Also, Ogechi Altraide has become the new Head, Retail Banking; Amadao Konate, Head, Treasury & International Payments for UBA America.
These international appointments compliment the prior appointments of Sola Yomi-Ajayi as the CEO of UBA America, and Patrick Gutmann as the CEO of UBA UK.
UBA provides a full suite of corporate banking products and services to businesses, multilateral institutions and governments transacting from and with Africa.
In addition, the bank has announced the appointment of three new country Executive Directors – Haoua Cisse as the Executive Director, Wholesale, UBA Mali; Samba Fall as the Exceutive Director, Wholesale, UBA Senegal and Julien Kouassi as Executive Director Wholesale, UBA Côte D’Ivoire.