By Elizabeth Chukwuma
For much of this year, Oliver Alawuba, led Management team of the United Bank of African UBA plc, popular, Pan African bank, have been looking for ways to put smiles on the millions of Customers of the Money Deposit Bank, MDB, both within and outside the country.
The MDB, Authorities, may have taken advantage of the 75th anniversary celebration of the bank to Launch a Commemorative debit card to put smiles on the faces of the Customers as a way to retain them. Olver Alawuba, the bank’s Group Managing Director, GMD, who could not hide his feelings had said that the introduction of the debit benefits accounts is ‘’to honour the Financial Institution ‘s long -standing Customer relationship s and further enhance their banking experience with a range of offers and discounts across multiple platforms’’.
Speaking at the unveiling of the new Mastercard, the UBA plc, GMD, had said that ‘’it is loaded with certain benefits aimed at rewarding Customers , including 25% off purchases at Jumia and the North American country of the United States, US, $75, cashback on transactions made through all express.
The Pan African Bank, Chief Executive Officer, CEO, was said to have further stated that the initiative symbolizes the shared vision between the bank and Mastercard, towards empowering Africans by enhancing Customer experience through secure and Convenient transactions.
Given an insider information, he noted that the new Mastercard represents the deepening of their relationship and share mission to empower millions of Nigerians and other African Customers by providing them access ‘’to secure transactions and new opportunities across the Continent.
The GMD, may have gladdened heart of the staff when he promised to unveil similar products across all subsidiaries of the bank. ‘’We are proud of this collaboration and Confident that Mastercard’s role in African will only grow stronger in the coming years’’, he UBA plc, CEO, had said.
Mark Elliot, Division President for African Mastercard, may have used the opportunity provided by the Launching of the new debit to Commemorate the 75th anniversary celebration of the Pan African Bank to express his heartfelt appreciation for the Collaboration with the UBA plc, emphasizing its significance in supporting Africa’s digital economy.
Mastercard, according to informed sources, have never failed to use any opportunity provided for it to shower encomiums and empower people in over 200 countries and territories all over the world including Nigeria where the debit card is used for transactions and payments.
This may have emboldened to Elliot, African Division Mastercard President to declare without any reservation that the company is building a sustainable economy where everyone can prosper. He was said to have repeatedly said that Mastercard support a wide range of payment choices, making transactions secure, simple and accessible, noting that technology and innovation, partnerships and networks combine to deliver unique set of products services that could help people in their businesses and governments to realize their greatest potentials.
He was said to have repeatedly said that officials of the Company are excited to Collaborated with UBP plc, to celebrate its 75th anniversary in banking operations in Nigeria, which had spread to several African countries including New York, Pari, United Kingdom, Asian country of China and Dubai, in United Arab Emirate, UAE, and bring more value to Customers, particular, in the African Continent.
There is no gain saying the leading MDB, in the African Continent, offering banking services to more than 45 million Customers in different parts of the world including New York, in the US,, has 1,0000 business offices and Customer touchpoints as well, offering retail, Commercial and Corporate banking cross-border payments and remittances as well as trade finance, innovative and ancillary banking services.
Elliot, who had said that the Commemorative Mastercard is more than a product was said to have told those that cares to listen that ‘’it reflects the company’s commitment to advancing Financial inclusion and supporting Africans in accessing secure, convenient and impactful Financial solutions’’.
The Mastercard African Division President was said to have further highlighted the immense opportunities within the African payment system and shared that Mastercard is eager to explore new opportunities with the MDB.
He averred that ‘’together with the Pan African Bank, Mastercard remains focused on delivering innovation that would meet the needs of the region, empowering individuals and promoting digital growth across the Continent s obtained in other parts of the world.
Financial experts believe that the Launch of the Commemorative Mastercard represents a significant step that had been in UBA plc and Mastercard’s shared journey towards financial empowerment innovation in the African Continent.
Enough on the newly Launched Mastercard to put smiles on the faces of the UBA plc, 45 million Customers across the African Continent and other parts of the world. The Leading Pan African Bank appears to have concluded arrangement to raise N 239.4 billion through a Rights Issue of 6,839,884,274 Ordinary Shares of 50 Kobo each at N35.00 per share.
The Sale of the Rights Issue was said to have opened on, Friday, November 15, 2024, thus giving the existing shareholders of the bank an opportunity to purchase additional shares in proportion to their current holdings.
The Value News learnt that that the new Rights Issue being offered for sale on the floor of the Stock Exchange Market is based on one Ordinary share for every five existing ordinary shares held by shareholders, as of November 5, 2024.
Tony Elumelu, a business mogul and Chairman of the global bank had said that the objective of the Rights Issue is to further strengthen the bank’s capacity to take advantage of growth opportunities and sustain its Leadership in the nation’s banking industry.
Explaining the use of its proceeds, Elumelu, opined that, beyond regulatory Compliance, the Funds that would the Rights Issue Sales, will expand the Group’s lending capacity, investment in digital infrastructure, support sustainable business practices and expanding the Group’s African Operations.
The UBA plc, Chairman, was said to have also highlighted how UBA plc driving economic growth across the African Continent and historic partner with the African Continental Free Trade Area, AfCTA, Secretariat , in Accra, Ghana, , where the bank had pledged $6 billion in financing over the next three years to support Small and Medium Scale, Enterprises, SMEs, across Africa to fostering economic development would change the face of the face of the Commitment.
He had said that the Rights Issue Sales is in Compliance with the revised minimum capital requirements for Nigerian Commercial banks that had been announced by the Central Bank of Nigeria, CBN, under the close watch of Olayemi Michael Cardoso.
Note that UBA plc, over the years, have clearly demonstrated growth and resilience evidenced by the Group’s strong financial performance and recent recognition with the industry as the indisputable market Leader. The bank’s progressive dividend policy was said to have been increased by 4.8% annualized dividend yield, demonstrating the bank’s Group ability to reward = its shareholders consistently.
Application for the Provisional allotment of the Rights to the Ordinary shares, an insider had confirmed will be made exclusively through the Nigerian Stock Exchange Market, NGX -e-offer portal during theoffer period. The existing shareholders may also apply for additional shares above their Provisional allotment as described in the Provisional allotment Letter.
Even Customers who are shareholders of the bank, are also encouraged to access their rights Issue through UBA internet banking and Mobile banking Channels.
Recall that in 2023 and 2024, financial years, the global bank had won the bank of the year awards in the Central African countries of Cameroun, Republic of Congo, and West African countries of Ghana, Chad, Coted’Ivoire, Sierra Leone and East African country of Mozambique.
The bank was said to have also won the Regional ward and in this 2024, Fiscal year, had won the best Frontier Markets , Bank and best SME Bank Africa.
