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The Nigeria High Commissioner to the Republic of Sierra Leone His Excellency, Amb. Henry John Omaku (fcim) today officially commissioned the new operational branch of United Bank for Africa (UBA) in Adonkia area of Freetown, Sierra Leone. Speaking during the commissioning Amb. Omaku noted that UBA has been doing very well in Africa and that the opening of their new branch in Adonkia area of Freetown Sierra Leone was not enough as the metropolitan population of Sierra Leone continues to soar.
The Nigeria High Commissioner said the opening of the Adonkia Branch of the bank clearly demonstrates the bank’s continuous commitment as a partner in the economic and financial development of Sierra Leone in particular and the African continent in general. He called on the management of the bank to ensure the bank is present in all districts in Sierra Leone, adding that the bank is one of the best financial institutions in Africa, performing well anywhere they are established.
On his part, the Managing Director and Chief Executive Officer (CEO) of UBA Sierra Leone, Mr Usman Imam Ishaq has noted that the UBA vision is to be the undisputed, leading and dominant financial service institution in Africa. He said the bank's strategic intent is to be agent for driving financial inclusion in Sierra Leone, actively participating in the government development agendas by supporting projects in key growth sectors and their value chain, providing a unique pan-African banking platform to facilitate growth of regional trade and contributing to the economic growth of Sierra Leone.
Mr. Imam said UBA Sierra Leone commenced operations on 21st July 2008 from a one-office location to a full-fledged commercial bank and that today they have many branches across the country, including Makeni in the northern region and Bo in southern Sierra Leone. According to him, the introduction of the Adonkia Branch could not be over-emphasised, considering the fact that the area is fast becoming a hot economic hub in the Western Area of the Freetown Municipality.
Reading a statement on behalf of the Central Bank Governor Prof. Kelfala Kallon, Deputy Governor of the Bank of Sierra Leone, congratulated UBA for the progress they have made in expanding their footprint in the Sierra Leonean banking market. He said Sierra Leone currently has about 14 commercial banks in operation, compared to only five by the end of 2000, and that in less than three decades ten new commercial banks entered the market, including UBA.
He said before 2000, a relatively small number of banks dominated the banking market and that competition was not very vigorous, with access to banking services very limited for the majority of the Sierra Leonean population.
High point of the occasion was the cutting of the commissioning tape by the Nigeria High Commissioner Amb. Henry Omaku.
The Nigeria High Commissioner to the Republic of Sierra Leone His Excellency, Henry John Omaku, fcim, (Giwan Doma) play host to members of the Nigeria-Sierra Leone Chamber of Commerce in his office
The Nigeria High Commissioner to the Republic of Sierra Leone His Excellency, Henry John Omaku, fcim, (Giwan Doma) play host to members of the Nigeria-Sierra Leone Chamber of Commerce in his office
The Nigeria High Commissioner to the Republic of Sierra Leone His Excellency, Henry John Omaku, fcim, (Giwan Doma) play host to members of the Nigeria-Sierra Leone Chamber of Commerce in his office