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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    We want Ghanaians to own 30% of MTN Ghana shares by end of 2022 – GROUP CEO

    Ghana’s 2022 economic outlook to remain positive; GDP projected to grow by 5.3% – AfDB report

    African governments tasked to look within the continent in their bid for transformation

    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

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UBA to expand operations to South Africa and Angola

bycitibusinessnews
January 23, 2015
in Banking And Finance, Business, Top Stories
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The Chief Executive Officer of United Bank for Africa Plc Phillips Oduoza has revealed that the bank will soon expand its operations to Angola and South Africa as the economy of Nigeria, its largest market, is hit by falling crude oil prices.

The lender which is currently operating in 19 countries on the continent including Ghana intends to embark on the expansion after the bank has completed its consolidation.

Speaking on the sidelines of the World Economic Forum in Davos, Switzerland, Mr Oduoza noted ‘’For us at UBA we have looked at various phases of our African plane and the first phase is what we have just completed; our presence in 19 African countries represent the strategic markets across Africa probably with the exception of Angola and south Africa’’

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The UBA boss however noted that the Angolan and South African Markets will be part of the bank’s next phase of expansion, adding that it is currently involved in consolidating its presence in other African countries where they operate.

South African banks are among the biggest banking corporations in Africa.

These banks have attracted investment globally and locally.

The country has the top five biggest banks namely, Standard Bank Group, Absa Group, FirstRand Bank group, Nedbank group and Investec Bank

Commenting on the how they intend to handle competition, the UBA CEO said: “We probably will not be competing along the same product lines with them; we are looking at a very big segment which is the trade flow between south Africa and Nigeria and this has been on the increase and when we enter South Africa, this is going to be the strategic area we are going to focus on.’’

–

 By: Lorrencia Nkrumah/citifmonline.com/Ghana

 

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