Nairobi, Friday, May 18, 2018
United Bank of Africa (UBA) has said that it will support the government to achieve its Big Four Agenda in a bid to transform the country in the next five years.
UBA Chief Executive Officer for East and Southern Africa, Emeke Iweriebar said the bank will be more involved in the lives and businesses of Kenyans, so as to improve their livelihoods and the country’s economy.
“We are ready to support businesses, individuals, governments, Small Medium Enterprises, corporates and multinationals in East Africa region, through our products and services that serve all segments of the markets,” said Emeke.
Speaking at a press conference at a Nairobi Hotel Thursday, the CEO said the Bank which has been operating in the country for the last 10 years, wants to embed in Kenya and the entire Southern Africa, as it believes that the region has high economic growth.
“We feel time has come for UBA to devote its resources, content and capacity in both East Africa and Southern Africa regions, that targets all age groups,” he added.
He said the bank has been providing financial support to various governments in Africa in the areas of education, health, agriculture, infrastructure, energy and housing programmes.
The CEO further noted that UBA is financing National Housing Corporation and Nairobi and Kakamega Counties to construct houses.
“We will sign an agreement of US Dollars 30 million to construct 1000 housing units, where Kenya Commercial Bank and Housing Finance will give mortgages,” he added.
On healthcare, Emeke said the bank will provide financial support to counties to purchase equipment and drugs, and added that the support will only depend on ability to pay.
He also announced that the bank will support education programmes in primary and secondary schools and tertiary institutions, as well as offer internship opportunities to students who have completed college.
Emeke added that the Bank will continue to support education and student’s careers as they provide the base for economic expansion.
UBA Managing Director and Chief Executive Officer, Isaac Mwige said that the bank is committed to support entrepreneurship programmes in Africa, in order to alleviate poverty and create employment for the youth.
He said the Bank will continue to support Uchumi Supermarket, despite the financial challenges it is facing. Adding that the Continental Free Trade Area that was signed by 44 countries in Kigali was necessary, as it will boost and ease the doing of business in the continent and remove overlapping structures and restrictions in the countries.
“The Continental Free Trade will create one market, where export and import transactions will be facilitated across the market,” said Mwige.
Present at the event was the UBA’s Group Head, External Relations, Mr. Nasir Ramon
The Bank has been operating in Africa since 1949, in Mozambique, Tanzania, Uganda, and Zambia. It also has markets in United States of America and United Kingdom.