15 February 2013

Zambia: UBA Embarks On Expansion Programme

THE United Bank for Africa (UBA) Zambia will in the next five years invest more than KR15 million in its expansion programmes across the country.

UBA managing director Stanley Ugwueze said that the bank was focusing on growing both its physical presence and the customer base hence the setting aside of the US$3 million for expansion.

Mr Ugwueze said his bank would ensure that it grew its physical presence across the country adding that currently studies were being conducted on the possible opening of branches on the Copperbelt and North-Western provinces this year.

He said the UBA group was focusing on doubling its customer base with a projected target of six million across African.

"As a bank we want to grow our customer base and increase our physical presence across the country and this will be so because we will open up a number of branches in different towns across the country.

"We will in the next five years spend over US$3million towards the programme," he said.

Addressing journalists in Lusaka on Wednesday, Mr Ugwueze said growth for his bank was steady and that the targeted number of customers for this year would be surpassed as the bank would be more innovative.

Copyright © 2013 The Times of Zambia. 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.