Tanzania: Govt Recognises UBA Bank Support to Development

THE Minister of Finance and Planning, Dr Philip Mpango has commended United Bank for Africa (Tanzania) Limited for supporting various government projects and initiatives vital in boosting economic growth.

Dr Mpango made the remarks after hosting for talks the United Bank for Africa (Tanzania) Limited Managing Director/Chief Executive Officer designate Mr Kingsley Ulinfun.

Recently, the bank issued loan to TANESCO and also participated in supporting the 2115 Megawatts Julius Nyerere Hydroelectric Power Project (JNHPP) by providing Bank Guarantees of 366 million US dollars.

During this visit, UBA Bank Tanzania had an opportunity to discuss the progress of the bank initiatives in place to support the growth of the economy and the general wellbeing of Tanzanians.

"UBA Tanzania, the subsidiary of the United Bank for Africa Plc pledges to continue supporting government projects and initiatives as it has demonstrated in the past through financing," said Ulinfun.

In other countries, UBA Bank has supported a number of government initiatives, including power, sports and infrastructure improvements.

He said this shows the true Pan Africanism and strength as a global institution towards the improvement and investment for the development of Africa by Africans.

UBA Bank is one of the largest employers in the financial sector on the African continent, with over 20,000 employees group wide.

The Bank serves over 20 million customers, across its approximately 1000 branches and over 30,000 ATMs, PoS and agencies in Africa.

Operating in 20 African countries and globally in the United Kingdom, the United States and France, UBA provides retail, commercial and institutional banking services.

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