By Francis Kamara
In their bid to maintain their prestige as the number one bank in the country, and continue with their corporate social responsibility in service to the people of Sierra Leone, United Bank for Africa (UBA) has officially commissioned another branch at Wellington-PMB, on 14th December, 2021.
In his opening statements, the Managing Director/CEO of UBA Sierra Leone Usman Isiaka expressed his appreciation and gratitude as they take another giant step forward towards fulfilment of the mandate from the UBA Group Chairman Tony Elumelu (MFR) for all the 19 UBA subsidiaries in Africa (excluding Nigeria that already has over 500 branches) to expand their branch network to minimum of 10 (ten) between 2020 and 2021, believes that this is part of their strategic initiative of remaining focused on their business growth in spite of the COVID-19 pandemic.
According to Usman Isiaka, the new Wellington branch becomes the ninth of UBA branches in Sierra Leone as they are also warming up for the commissioning of the Waterloo branch that is already at finishing touches.
The UBA Group’s strategic intent is to expand its network of branches across the continent with a view to extending banking services to the larger population of the un-banked and under-banked across the continent using a combination of traditional brick and mortar branches with modern outlook,
The branch expansion initiative of the Group also comes with modernization of the UBA Branch Model and Prototypes that are expected to give esteemed customers new experience of a beautiful and appealing business environment as exemplified by this edifice.
Usman Isiaka recalled that earlier this year, precisely in August 2021 they commissioned the Adonkia branch which has been adjudged by many observers as a masterpiece that sets unrivalled standards in bank branch ambience in the country.
He went on to say that the Wellington branch is one of the 5 new customer service touch points (3 branches and 2 cash points) the bank planned for the current financial year to bring the total number of their business offices in the country to 14 (10 branches and 4 cash points) for improved customer service experience and convenience for their existing and prospective customers. He added that he is extremely happy to note that they have only one branch to go, the Waterloo branch which is coming up soon to achieve their 2021 branch expansion plan initiative which is undoubtedly in alignment with the Financial Inclusion objective of Bank of Sierra Leone and they are committed to expanding their reach to other districts in the country in the years ahead beside Freetown, Bo and Makeni where they are currently located.
Usman Isiaka, went on to say that the commissioning of the Wellington branch is a good move not only for them, but also the environs of the Wellington area. He affirmed that moving to Wellington is a deliberate strategic decision to lead in the execution of the Central Bank’s financial inclusion drive in taking banking to the doorsteps of the Sierra Leonean public. This branch is here to cater for corporate, the retail unbanked and under-banked customers within and beyond the community. Wellington is a residential neighborhood in the East End of Freetown that is densely populated, with an ethnically diverse population, which is home to several industrial estates, commercial and retail businesses, and they are poised to providing excellent customer service to their new and existing customers within this locality and extend arms of cooperation to all the stakeholders in the community.
According to Usman Isiaka,theirbusiness strategy is built on being the bank of choice for businesses across the African continent, and using their extensive spread across the continent, their sole aim is to facilitate inter–and-intra-African trade and be the pivot for the inflow of investment capital. He, mentioned that as a global pan African bank that aspires to be the undisputed leading and dominant financial services institution in Africa and role model for African businesses, they believe in the long term sustainability of the African economy. Consequently, they will continue to expand their branch network and develop innovative products and services to ease and facilitate financial transactions for the African teaming population, support the growth of other businesses, provide gainful employment for citizens, be a formidable catalyst and economic agent for the attainment of the socio economic development of the African continent.
Usman Isiaka said that he is delighted to state that they will be bringing to Wellington area the new UBA Customer Experience (CX) Initiative launched earlier this year across UBA Group which focuses on ensuring that they do more than is expected and delight their customers at every point of interaction – right from the Security Staff at the entrance and within the bank’s premises, to the Customer Service Officer, the Tellers, Customer Service Manager, the Branch Manager up to the level of the Managing Director as the Chief Executive Officer of the Bank and indeed every staff in the bank. He added that their commitment under the New UBA CX Initiative is to see that the needs of all customers are met and improve the services.
He went on to say that the new UBA Wellington branch will be providing to the delight of all the banking populace in this community and beyond the following services as obtainable in all other branches of UBA to create a new customer experience: Account opening for Corporate, Small and Medium Enterprise and Individuals. Remittance services such as Africash, Western Union, Money Gram, Ria, BnB etc. Bank to Wallet services using our Orange Money Push and Pull and Afrimoney Agent Services. Trade, Foreign Exchange and International Funds Transfer Services. Visa & MasterCard Debit/Prepaid Card Issuance. Enrolment for our digital banking services such as Mobile App, Internet banking, Leo Chat banking among others. Cash Deposit and Withdrawal from accounts in all the 20 presence countries of UBA in Africa through UBA Connect, and Issuance of Point of Sales (POS) Terminals to Supermarkets and Traders as part of the Cashless Policy initiative of the bank. He also noted that the new Wellington branch will make their existing and prospective customers within the area to avoid the stress and long drive from this part of Freetown to the central business district to access financial services when UBA is just a stone throw within easy reach. The establishment of this branch is in fulfilment of the clarion calls by some of their customers within this locality to bring their services closer to them, and he is delighted that it has come to fruition.
The Board Chairman Abdul Sheka Kargbo, in his commission statement thanked the congregation for taking time out of their busy schedule to grace the occasion. He expressed his gratitude for the continued support and patronage. He went on to say that over thirteen years ago, UBA Sierra Started operations and from that onset they have expanded steadily as the Wellington branch is a testimony and to that, and also a clear manifestation of UBA’s continued commitment as a partner in the economic and financial development of Sierra Leone.
He added that the opening of the Wellington branch is part of their extension policy to bring their services closer to their customers and also to enhance the effectiveness and impact of operations to customers. As a board, they have provide effective oversight in critical times like this to meet the needs of their customers and the communities, and despite the turf operating Covid-19 environment the bank is making good progress on strategies and continue to grow and expand in their key areas of focus. He added that as a bank, they are simplifying their business, and are hastening the digital transformation and strengthening the customer first philosophy so that they can serve their customers better.
The Executive Director, Mohamed Samura in his statement expressed his delight as he is privileged to witness another significant milestone in their journey to attain and maintain market leadership in Sierra Leone. He added that the commissioning of two branches in the same year is unprecedented and as chairman of the branch development committee he is very proud and delighted as they are one step closer to executing their key mandate as a committee in fulfilling the group chairman’s vision for 2020 – 2021 for all UBA subsidiaries to have at least ten branches. The commissioning of the Wellington branch sums up the total to nine branches, with the tenth at Waterloo almost ready to be opened at the end of the month and he hopes that the Bank of Sierra Leone which serves as a regulator will grant them the permission for the opening of the Waterloo branch, which will be the perfect Christmas gift to them.
Speaking as a representative on behalf of the Deputy Bank Governor of Sierra Leone, Hilton Jarrett, congratulated and commend the board and management of UBA Sierra Leone for their laudable efforts of taking banking services to the doorsteps of the people of Wellington and its environs. He added that the establishment of this Wellington branch is a clear manifestation of UBA’s continued investment in Sierra Leone and desire to serve its esteem customers in a conducive and modern environment.
He affirmed that UBA is one of the top listed banks in the world, it enjoys an excellent customer base and diversify business structure, as well as strong innovation capabilities and market competitiveness.
He mentioned that UBA has continued to play a leading role in the banking sector in Sierra Leone for over ten years, and as of the 31st October 2021, UBA is among the most highly capitalized bank in Sierra Leone with a high capital adequacy ratio of 110%, shareholders’ funds above Le. 350 billion, and a capital base well over Le. 300 billion. UBA Sierra Leone also ranks among the most liquid banks with liquidity ratios of well over 160%. He went on to say that these few indicators reveal the bank’s huge potential with regards availing credit facilities to the public and private sectors which will consequently enhance productivity, and hence the growth and development of Sierra Leone’s economy. Hilton Jarrett mentioned that the Bank of Sierra Leone is very proud of UBA and therefore urges its board and management to also increase their intervention in the economy.
He went on to say that the recent global crisis (COVID-19), reemphasizes the need for regulators to establish alternative methods of payment which reduces physical contact, but at the same time very fast and efficient. The trend worldwide is for the introduction of digital and electronic payment methods, which enable vendors and customers to engage in less face to face physical transactions, as customers were purchasing items online during the Covid-19 lockdown around the world. He also urges customers of UBA Sierra Leone to patronize and seize this golden opportunity. He also affirmed that the Bank of Sierra Leone is well advanced in the introduction of the National Switch as part of the upgrade in the payment system infrastructure, as this National Switch will boost financial inclusions, reduce the use of cash for basic transactions, stimulates innovation competitions, growth and economic prosperity. This will also allow customers to make payments for goods and services through cards, mobile phones, and the internet.
He went on to say that the Bank of Sierra Leone’s plans are well advanced to redenominate the country’s currency as this will bring benefit to the economy. Furthermore, another key development in the financial sector which is being pioneered by the Bank of Sierra Leone, is the Deposit Protection Fund. This bill has been laid before parliament, and the
Fund will ensure that small depositor’s funds with banks will be protected in the unlikely event if problem with any of the bank occurs.
Speaking on behalf of the Wellington people of constituency 115 – ward 405, councilor Lamin Kamara welcomed UBA Sierra Leone and expressed his gratitude and appreciation for acting as a role model in the banking sector to establish a branch at the Wellington community. He went on to say that he is always happy to stand and speak on behalf of his people especially in an event like this that has to deal with development and progress for the people of the community. He added that UBA has made the right choice to be in a strategic position. As a leader in the community he encourages members of his constituent to support the branch to reach a higher height, as he believes the growth of the bank will bring progress to the community and its environs, as UBA is committed to be a social and responsible financial institution that is deeply focused on development in the area of education, environment, economy, empowerment, and social projects. He recalled that during the mudslide, the board of UBA Sierra Leone donated $500.000 as their support to the government of Sierra Leone, and the UBA group also lend their support once more during the Covid-19 pandemic by donating $14million to all subsidiaries across Africa. He went on to assure UBA Sierra Leone that the Wellington community and beyond will definitely support the business to grow.
The representative of the Financial Intelligent Unit (FIU) Mr. Ngegba, affirmed that the FIU has a very good working relationship with the United Bank for Africa, and the aim of the FIU as an agency of the government of Sierra Leone to protect the integrity of the country’s financial system thereby attracting investors, and creating employment for the unemployed. He ensures that the fight against money laundering is a battle that they are winning. He went on to assure the United Bank for Africa that the FIU will continue their support to patronize and stand by UBA Sierra Leone in their quest to achieve their goals.
