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Uganda: United Bank of Africa Starts Operations
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New Vision (Kampala)
15 May 2008
Posted to the web 16 May 2008
Sylvia Juuko
Kampala
UNITED Bank for Africa, one of the largest banks in West Africa, has opened shop in Kampala. The bank has staked a capital investment of sh20.5b into its operations in the country, reports Sylvia Juuko.
Manz Denga, the managing director, said the bank would increase its footprint across the country to bring the unbanked population into the financial sector.
"Our ambition is to close the year with 10 branches after which, we shall open a minimum of 15 branches, every succeeding year," Denga said in a statement.
The bank also has two branches in Kampala. Additional branches would be opened in Kansanga and Ndeeba in a month's time, the statement disclosed.
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