27 January 2011

Nigeria: UBA Opens Branch in Democratic Republic of Congo

UNITED Bank for Africa, the pan-African banking and financial services institution has continued to deepen its presence in the continent with the expansion to Democratic Republic of Congo (DCR).

UBA Congo DRC, as it is called, will open its doors to the public on next Monday, following approvals by the Central Bank of Democratic Republic of Congo (DCR) and other regulatory agencies in Nigeria and DRC. This brings to three, the number of countries with UBA's presence in the Central Africa region having previously opened in Cameroun and Gabon.

UBA Congo DRC will initially roll out in two branch locations, both in the capital city of Kinshasa, with the headquarter situated at 144B Boulevard du 30 juin, Kinshasa/Gombe DRC and annoter business office in 1853 Avenue de la liberation, Kinshasa/Gombe.

Commenting on the bank's new subsidiary, Mr. Rasheed Olaoluwa, chief executive officer (CEO), UBA Africa said the bank would provide comprehensive financial services solutions to the people and leverage on the Group's presence in East and South Africa countries with common borders, to support multinational and local corporations in cross border trade and financial transactions.

UBA has also announced the appointment of Mr. Cisse Morissouali, as CEO UBA Congo DRC, and Mr. Agbanobi Lawrence as country chief operating officer (COO). Both, very well experienced bankers have been on ground in Kinshasa to supervise the roll out and ensure a smooth take off of banking operations in the country.

Kennedy Uzoka, an Executive Director at the group said: "UBA Congo DRC like all our other subsidiaries on the continent, will make significant contribution to the development of banking and the economy in Congo DRC, leveraging on our group financial strength, expertise and deep knowledge of the continent".

Copyright © 2011 Daily Champion. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.