United Bank for Africa (Uganda)
Encyclopedia
United Bank for Africa is a commercial bank
in Uganda
. It is one of the licensed commercial banks in the country, as of June 2011.
-based parent company United Bank for Africa Plc.
, started operations in Uganda with a capital base of US$12 million. The bank's entry into the Ugandan market along with other regional heavyweights including Kenya Commercial Bank and Ecobank Transnational
, has energized the country's financial sector, increasing competition, resulting in improved customer service across the board.
commenced operations in May 2008, starting with the opening of the main branch on Jinja Road
, in Kampala
, Uganda's capital and largest city. Within the first six months, the bank quickly established four (4) branches within Kampala and its suburbs. During the following six (6) months, the bank expanded its network by adding two upcountry branches, one in Jinja
, about 86 kilometres (53.4 mi), east of Kampala, and the other in Mbale
, a city located about 200 kilometres (124.3 mi), by road, northeast of the capital. Subsequently, the bank has opened two more branches; one in Fort Portal
and another in Mbarara
, both in Western Uganda
. In September 2010, UBA Uganda joined the Bankcom Interbank Switch Network. The network, which has in excess of 200,000 user customers, is loaded on to about 80 ATM
s and is used by six Uganda
n commercial banks, namely: Cairo International Bank
, DFCU Bank
, Fina Bank
, Orient Bank
, Uganda Finance Trust
and United Bank for Africa.
of United Bank for Africa
, headquartered in Lagos
, Nigeria
, with presence in 20 (twenty) African countries, as well as the United Kingdom
, France
and the United States
.
.
. In June 2011, Mwanakatwe moved to the bank's headquarters in Lagos
, Nigeria
, to serve as Director of Business Development for Anglophone Africa
at UBA. Bernard Magulu is the Chief Finance Officer. The other top managers are not publicly known at this time.
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
. It is one of the licensed commercial banks in the country, as of June 2011.
Overview
United Bank for Africa (Uganda) is a commercial bank that focuses on the individual customer, small and medium sized businesses, as well as large corporations. The NigeriaNigeria
Nigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in...
-based parent company United Bank for Africa Plc.
United Bank for Africa
United Bank for Africa Plc is a public limited company incorporated in Nigeria in 1961 and headquartered in Lagos. It is one of Africa’s leading financial institutions offering universal banking to more than 7 million customers across 750 branches in 19 African countries and a presence in New...
, started operations in Uganda with a capital base of US$12 million. The bank's entry into the Ugandan market along with other regional heavyweights including Kenya Commercial Bank and Ecobank Transnational
Ecobank
Ecobank, whose official name is Ecobank Transnational Inc., is a pan-African banking group with a presence in more African countries than any other bank...
, has energized the country's financial sector, increasing competition, resulting in improved customer service across the board.
History
The bankBank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
commenced operations in May 2008, starting with the opening of the main branch on Jinja Road
Kampala-Jinja Highway
Kampala-Jinja Highway is a road in Uganda, connecting the cities of Kampala and Jinja. Sometimes referred to as Kampala-Jinja Road, it is a busy road, with several towns, trading centers and other landmarks along the way.-Location:...
, in Kampala
Kampala
Kampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
, Uganda's capital and largest city. Within the first six months, the bank quickly established four (4) branches within Kampala and its suburbs. During the following six (6) months, the bank expanded its network by adding two upcountry branches, one in Jinja
Jinja, Uganda
Jinja is the largest town in Uganda, Africa. It is the second busiest commercial center in the country, after Kampala, Uganda's capital and only city. Jinja was established in 1907.-Location:...
, about 86 kilometres (53.4 mi), east of Kampala, and the other in Mbale
Mbale
Mbale is a city in Eastern Uganda. It is the main municiplal, administrative and commercial center of Mbale District and the surrounding sub-region. The district is named after the town.-Location:...
, a city located about 200 kilometres (124.3 mi), by road, northeast of the capital. Subsequently, the bank has opened two more branches; one in Fort Portal
Fort Portal
Fort Portal is a town in Western Uganda. It is the seat of both Kabarole District and Toro Kingdom.-Location:Fort Portal is located approximately by road, west of Kampala, Uganda's capital and largest city, on an all-tarmac two-lane highway...
and another in Mbarara
Mbarara
Mbarara is a town in Western Uganda. It is the main municipal, administrative and commercial center of Mbarara District and the location of the district headquarters. It is also the largest urban centre in Western Uganda.-Location:...
, both in Western Uganda
Western Region, Uganda
Western Region is a region of Uganda. It is divided into the following districts:...
. In September 2010, UBA Uganda joined the Bankcom Interbank Switch Network. The network, which has in excess of 200,000 user customers, is loaded on to about 80 ATM
Automated teller machine
An automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...
s and is used by six Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
n commercial banks, namely: Cairo International Bank
Cairo International Bank
Cairo International Bank is a commercial bank in Uganda. It is one of the twenty-two banks licensed by Bank of Uganda, the national banking regulator.-Overview:...
, DFCU Bank
DFCU Bank
DFCU Bank, commonly known as DFCU, but whose full name is Development Finance Company of Uganda Bank Limited, is a commercial bank in Uganda...
, Fina Bank
Fina Bank (Uganda)
-Overview:As of February 2009, the bank is a small, fast-growing banking institution, providing commercial banking services to individuals and small to medium sized corporate clients. The bank is a member of the Fina Bank Group, which includes Fina Bank and Fina Bank ...
, Orient Bank
Orient Bank
Orient Bank is a commercial bank in Uganda. It is one of the twenty-two commercial banks licensed by Bank of Uganda, the national banking regulator.-Overview:...
, Uganda Finance Trust
Uganda Finance Trust Limited
Uganda Finance Trust Limited , commonly called Finance Trust, is a Microfinance Deposit-taking Institution in Uganda.-Location:...
and United Bank for Africa.
Ownership
United Bank for Africa (Uganda) is a wholly owned subsidiarySubsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
of United Bank for Africa
United Bank for Africa
United Bank for Africa Plc is a public limited company incorporated in Nigeria in 1961 and headquartered in Lagos. It is one of Africa’s leading financial institutions offering universal banking to more than 7 million customers across 750 branches in 19 African countries and a presence in New...
, headquartered in Lagos
Lagos
Lagos is a port and the most populous conurbation in Nigeria. With a population of 7,937,932, it is currently the third most populous city in Africa after Cairo and Kinshasa, and currently estimated to be the second fastest growing city in Africa...
, Nigeria
Nigeria
Nigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in...
, with presence in 20 (twenty) African countries, as well as the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
, France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
and the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
.
Branch Network
As of March 2010, the bank maintains branches at the following locations:- Jinja Road Branch, 22 Jinja Road, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
Main Branch - William Street Branch, 17B William Street, Kampala
- Kansanga Branch, 2577 Ggaba Road, Block 244, KansangaKansanga-Location:Kansanga is bordered by Kabalagala and Kisugu to the north, Muyenga to the northeast, Kiwafu to the east, Bbunga to the southeast, Konge to the south, Lukuli to the southwest, Kibuye to the west and Nsambya to the northwest. The road distance between Kampala's central business district...
, Kampala - Ndeeba Branch, 122 Masaka Road, NdeebaNdeeba-Location:Ndeeba is located on the southwestern edge of the city of Kampala. It is bordered by Mengo to the north, Katwe to the northeast, Kibuye to the east, Makindye and Najjanankumbi to the southeast, Kabowa to the south, Mutundwe to the west and Lubaga to the northwest...
, Kampala - Mukono Branch, 11 Kampala RoadKampala-Jinja HighwayKampala-Jinja Highway is a road in Uganda, connecting the cities of Kampala and Jinja. Sometimes referred to as Kampala-Jinja Road, it is a busy road, with several towns, trading centers and other landmarks along the way.-Location:...
, Mukono - Jinja Branch, 5 Scindia Road, JinjaJinja, UgandaJinja is the largest town in Uganda, Africa. It is the second busiest commercial center in the country, after Kampala, Uganda's capital and only city. Jinja was established in 1907.-Location:...
- Mbale Branch, 1-3 Manafwa Road, MbaleMbaleMbale is a city in Eastern Uganda. It is the main municiplal, administrative and commercial center of Mbale District and the surrounding sub-region. The district is named after the town.-Location:...
- Fort Portal Branch, 8 Ruhandika Street, Fort PortalFort PortalFort Portal is a town in Western Uganda. It is the seat of both Kabarole District and Toro Kingdom.-Location:Fort Portal is located approximately by road, west of Kampala, Uganda's capital and largest city, on an all-tarmac two-lane highway...
- Mbarara Branch, 94 High Street, MbararaMbararaMbarara is a town in Western Uganda. It is the main municipal, administrative and commercial center of Mbarara District and the location of the district headquarters. It is also the largest urban centre in Western Uganda.-Location:...
Directors
All the Directors of the bank are not publicly known as of June 2011. Frans Ojielu, the Acting Managing Director of the bank is a member of the Board of DirectorsBoard of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
.
Management Board
The current members of the management board are led by Frans Ojielu, the Managing Director of the bank, who replaced Margaret MwanakatweMargaret Mwanakatwe
Margaret Mwanakatwe, is a Zambian businesswoman, accountant, and bank executive. She is the current Director for Business Development in Anglophone Africa, at United Bank for Africa, at the bank's headquarters in Lagos, Nigeria. In this role, she supervises business development in Cameroon,...
. In June 2011, Mwanakatwe moved to the bank's headquarters in Lagos
Lagos
Lagos is a port and the most populous conurbation in Nigeria. With a population of 7,937,932, it is currently the third most populous city in Africa after Cairo and Kinshasa, and currently estimated to be the second fastest growing city in Africa...
, Nigeria
Nigeria
Nigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in...
, to serve as Director of Business Development for Anglophone Africa
Africa
Africa is the world's second largest and second most populous continent, after Asia. At about 30.2 million km² including adjacent islands, it covers 6% of the Earth's total surface area and 20.4% of the total land area...
at UBA. Bernard Magulu is the Chief Finance Officer. The other top managers are not publicly known at this time.