50% of UBA’s earnings come from its African businesses: CEO

United Bank for Africa Plc has made the announcement that all of its African subsidiaries are now operating well, and this is due to the fact that they have been contributing as much as possible to the overall profit margin of the group.

Specifically, the bank’s operations in Africa have generated close to half of the group’s earnings. They have done this by capitalising on digital offers and products across the board in order to achieve big market shares in each of the several regions in which they operate in Africa.

The Executive Director and Chief Executive Officer of UBA Africa, Abiola Bawuah, made this disclosure while addressing press men and journalists from across Africa during a hybrid media parley on Thursday. He noted that despite the impact of devaluations and double-digit inflation in Nigeria and a number of other African countries where the bank operates, the bank’s subsidiaries have been performing well and contributing significantly to the growth and development of trade, infrastructure, and other economic spheres in the region.

She stated that as of the previous month, not one of our companies operating in Africa was experiencing a loss. They have navigated the waters well and have each found their footing, as evidenced by the fact that all of them have been earning a profit recently.

Bawuah, a Ghanaian national, was named as the first female CEO of UBA Africa in the beginning of this year. This appointment further highlighted the bank’s commitment to diversity as it also demonstrated the bank’s commitment to diversity. There are currently eight women serving as Directors on the board of the group.

Due to the difficulties that are currently being faced by the private sector, Bawuah stressed the importance of government regulation in that area.

During the Africa Day/UBA Conversations event that took place not so long ago in Lagos, Bawuah shared her worries over the current state of the private sector with the audience.

She made the following statement: “Because the private sector is in such a state of turmoil, we require the government to regulate the private sector.” On the other hand, the strength of the private sector is essential, and here is where UBA comes in. There are many other facility initiatives that we have developed for customers in the corporate sector, such as the Small and Medium Enterprises, Micro, Small, and Medium Enterprises that we are supporting. These programmes have been quite successful.

You can only be a micro, small, or medium-sized organisation (MSME) at UBA, as far as I am aware, and once you have proven your loyalty to us and that you have successfully managed the company, we will be willing to back you even if you do not have any collateral.

“However, Africa must develop the private sector, and when you talk of the private sector, sixty percent of the private sector in Africa are either SMEs or MSMEs. These businesses would not be able to be developed by the foreign banks because what they classify as SMEs monetarily is high, and the majority of SMEs in Africa are far below that range.”

In the meantime, the chief executive officer of the corporation mentioned that preparations were being made to expand the use of technology to boost trade in Africa.

In a similar spirit, Alero Ladipo, the Group Marketing Head for UBA, stated that technology is the major platform trade may be pushed on.