Monday, 2 December 2013

UBA invests $2bn in Africa

THE UNITED Bank for Africa (UBA) has spent over US$2 billion on funding various projects in Africa this year and has urged its clientele to come up with proposals that the Bank can fund.
UBA Chief Executive Officer Stanley Ugwueze said the Bank has spent funds on funding various projects and was willing to fund construction, agriculture, energy power projects and any other sectors of the economy.
Mr Ugwueze said during a business cocktail for the business community in Kitwe on Friday that UBA was committed to funding projects on condition that they were bankable and could easily be monitored.
“We are willing to fund projects in any sector of the economy and we would like to fund bankable projects that can easily be monitored,” he said.
Mr Ugueze said the Bank was willing to fund projects and support growth of small and meduim entrepreneurship and the Government to help grow the economy.
He said UBA was not an inferior Bank but its main focus was in Africa because it wants to develop the African continent.
UBA Kitwe branch manager Mofya Zimba said the bank was founded on the four core values of humility, empathy, integrity and resilience.
UBA has been operating in Zambia for the past four years and the business cocktail was held to formally introduce the Bank to the business community in Kitwe.
The Bank has branches in 19 African countries as well as in New York, London and has representative offices in China.
UBA wants to strengthen the Kitwe branch and plans to expand to Ndola and Solwezi.
Source: Times of Zambia

No comments:

Post a Comment