The United Bank for Africa (UBA), one of the leading banks in Africa and other parts of the world where it operates has set another record in the banking sector in Sierra Leone by launching five new products at the Hub Hotel in Freetown on Wednesday 25th November 2020.
Giving an overview of the products, UBA’s Head of Retail Banking, Victoria Olukotum disclosed that the bank is doing its best to satisfy its customers by meeting their needs through tailored products underscoring, “we always encourage customers to dream big because it is a bank for everyone” and further revealed that the products launched are in line with the Central Bank’s Financial Inclusion Policy.
Officially launching the products, UBA’s Managing Director/Chief Executive Officer, Usman Isiaka, described the five products as retailer building products that meet the banking needs of their customers assuring that UBA is committed to satisfying the needs of their customers in different sectors of the economy underlining, “our focus as a Pan-African Bank is for UBA to be a prepared bank for every African Citizen that is why our bank’s products cut across all spheres of life.”
Mr. Isiaka also expressed optimism that the bank continues to provide quality banking products and services to its numerous customers to the extent that it has taken a further bold step to meet the banking needs of those having or not having bank accounts with the launch of these five products i.e. UBA Teens Account, UBA Extra Account, UBA Dreams Account, UBA Sharp-Sharp Account and UBA Next Level Savings Account to address a lot of issues in this sector.
The MD/CEO, Usman Isiaka further noted that he is particularly delighted with the introduction of the two Low KYC Savings Accounts, the UBA Sharp-Sharp and UBA Next Level that are meant for the unbanked and under-banked Sierra Leoneans in line with the Financial Inclusion Strategic focus of the Central Bank of Sierra Leone.
Presenting the product to the media, one of the Branch Managers, Mr. Joseph Kemoi stated that UBA Teens allows parents to open Savings Accounts for their children between the ages 13 to 17. The product has exciting features such as a 13th Month Reward i.e.10% of the monthly savings plan amount if maintained for 12 months without interruption. Financial inclusion training and internship opportunity with UBA. Free SMS Alert, access to the bank’s Mobile Banking service and transition at age 18 to the UBA NexTGen Account.
UBA Dreams – This product targets people who have plans for special projects to be executed and gives them the opportunity of high interest yielding savings account to save money for their projects. Account holders also enjoy good interest rates and access to UBA digital banking channels.
UBA Extra– a savings account with current account features, which enables withdrawal through third parties with a special benefit to participate in a quarterly draw to win gift items such as motorcycles, shopping vouchers, bikes, refrigerators etc.
Daphne Roy-Johnson, Business Manager, Saint John Branch dilated on the UBA Sharp-Sharp and UBA Next Level.
She said the UBA Sharp-Sharp account has a minimum account opening amount of Le 10,000 with daily and monthly transaction limits of Le500,000 and Le2.5 million respectively.
She continued, “the UBA Next Level, on the other hand has daily and monthly transaction limits of Le1million and Le5 million respectively without minimum account opening amount subject to account funding within 30 days.”
The vote of thanks was rendered by Christiana Sao-Lamin.
