Commercial Bank of Africa (Uganda) explained
| NCBA Bank Uganda Limited |
| Type: | Subsidiary |
| Location: | Twed Towers, 10 Kafu Road, Nakasero, Kampala, Uganda |
| Key People: | Grace Jethro Kavuma
Chairman[1]
Mark Muyobo
Acting Managing Director[2] |
| Industry: | Banking |
| Products: | Loans, savings, transaction accounts, investments, debit cards, credit cards, mortgages |
| Parent: | NCBA Group |
The Commercial Bank of Africa (Uganda) (CBAU) is a commercial bank in Uganda.[3] The bank opened in 2014, following the issuance of a commercial banking license by the Bank of Uganda, the central bank and the national banking regulator.[4] The bank is a member of the Commercial Bank of Africa Group (CBA Group), headquartered in Nairobi, Kenya.[5]
NCBAU serves the banking needs of individuals and businesses in Uganda. It focuses on meeting the banking needs of large corporations, diplomatic missions, non-governmental organizations, and high net-worth private clients. The parent company raised KES:1.5 billion from its shareholders to finance CBAU.[6]
History
The NCBA Group, the parent company, was founded in 2019 in Nairobi, Kenya. Branches were then opened in Nairobi and Mombasa, Kenya and in Kampala, Uganda. In 1969, the bank sold its assets in Uganda to Barclays Bank of Uganda.[7]
In October 2011, the CBA Group announced plans to enter Uganda.[8] In February 2013, Kenyan print media reported that the CBA Group was waiting on approval from the Bank of Uganda to open CBAU's first branch in Kampala, the country's capital.[9] In January 2014, the necessary approval was granted and CBAU became the 26th commercial bank in the country.[10]
In January 2016, CBAU applied to the Bank of Uganda to be allowed to make loans using the mobile money platform, in partnership with cellular telephone provider MTN Uganda. If permission is granted, the bank would become the first Ugandan commercial bank to provide this service.[11]
Branch network
As of August 2016, the bank maintained branches at these locations:[12]
See also
Notes and References
- Web site: The Board of Directors of NCBA Bank Uganda Limited . 30 August 2020 . 30 August 2020 . . NCBA Bank Uganda . Kampala.
- Web site: 30 August 2018 . . Private sector credit grows to 10.5 per cent – BoU . 30 August 2018 . Martin Luther Oketch . Kampala.
- Web site: LIST OF LICENSED COMMERCIAL BANKS AS AT JUNE 2015 . 30 June 2015 . 27 January 2016 . Kampala . BOU . Bank of Uganda (BOU) . https://web.archive.org/web/20151222124328/https://www.bou.or.ug/bou/bou-downloads/financial_institutions/2013/Information-for-Commercial-Banks-2015.pdf . 22 December 2015 . dead .
- Web site: Commercial Bank of Africa Returns to Ugandan Market . 22 January 2014 . 2 May 2014 . Dorothy . Nakaweesi . . Kampala . 1 February 2014 . https://web.archive.org/web/20140201163915/http://www.monitor.co.ug/Business/Commodities/Commercial-Bank-of-Africa-returns-to-Ugandan-market/-/688610/2154780/-/14b4g9i/-/index.html . dead .
- Web site: Kenyatta Business Empire Goes Into Expansion Drive . 11 November 2013 . 2 May 2014 . Victor . Juma . . Nairobi.
- Web site: CBA raises Sh1.5bn for expansion into Uganda market . . George . Ngigi . 13 August 2012 . Nairobi . 28 January 2016.
- Web site: Barclays Africa Group: Uganda: About Us: 1969 . 31 December 2017 . 31 December 2017 . . Barclays Africa Group . Johannesburg.
- Web site: Bank Plans for KSh1.5 Billion Rights Issue . . Karambu . Immaculate . Nairobi. 2 May 2014 . 31 October 2011.
- Web site: David . Herbling . 13 February 2013 . CBA Awaits Central Bank Approval To Set Up In Uganda . . 2 May 2014 . Nairobi.
- Web site: 2 February 2014 . 2 May 2014 . CBA Becomes Ninth Kenyan Bank To Open Shop In Uganda . David . Herbling . . Nairobi.
- Web site: 27 January 2016 . Uganda: Bank Seeks Government Approval to Give Mobile Money Loans . 27 January 2016 . Mark Keith Muhumuza . and Jonathan Adengo . . Kampala.
- Web site: Branch List of Commercial Bank of Africa (Uganda) . 26 August 2016 . 26 August 2016 . Commercial Bank of Africa (CBA) . CBA.
