United Bank for Africa Uganda Limited explained

United Bank for Africa Uganda Limited
Type:Subsidiary of United Bank for Africa
Location:Plot. 2, Jinja Road, Kampala, Uganda
Key People:Mustafa Kigozi Sebbagala
Ag. Chairman
Chioma Mang[1]
CEO and MD
Kenneth Kisambira
Executive Director
Num Employees:411
Num Employees Year:2024
Assets:USh 623.093 billion (US$164.235 million) (2023)
Revenue: After Tax: USh 10.2 billion (US$2.68 million) (2023)
Industry:Financial services
Products:Internet bankingMobile bankingWholesale BankingCorporate bankingInvestment BankingConsumer BankingMoney TransferDebit CardsCollectionsTreasuryTradeSavings AccountsCurrent Accounts
Parent:United Bank for Africa

United Bank for Africa Uganda Limited, also UBA Uganda, is a commercial bank in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator.[2] UBA Uganda is a subsidiary of the United Bank for Africa, headquartered in Lagos, Nigeria, with a presence in twenty African countries, the United Kingdom, France, and the United States. The stock of UBA Transnational trades on the Nigeria Stock Exchange under the symbol UBA.[3]

Location

The headquarters of UBA Uganda are located at Plot 2, Jinja Road, in the central business district of Kampala, the capital and largest city in Uganda.[4] The geographical coordinates of the bank's headquarters are:00°18'49.0"N, 32°35'17.0"E (Latitude:0.313611; Longitude:32.588056).

Overview

UBA Uganda is a retail bank that serves small and medium enterprises (SMEs), large corporations and individual customers. As of 31 December 2023, UBA Uganda's total assets were USh  (approx. US$164.235 million), with shareholders' equity of USh  (approx. US$37.6 million).[5]

History

UBA Uganda commenced operations in May 2008, starting with the opening of the main branch on the Kampala-Jinja Highway in Kampala. The Nigeria-based parent company, United Bank for Africa, started operations in Uganda with a capital base of US$12 million. It was a greenfield start-up.[6]

Within the first six months, the bank established four branches within Kampala and its suburbs. During the following six months, UBA Uganda Limited added two upcountry branches, one in Jinja, about 80km (50miles) east of Kampala, and the other in Mbale, a city located about 225km (140miles), by road, north-east of the capital.[7]

Ownership

UBA Bank Uganda is a subsidiary of the United Bank for Africa, headquartered in Lagos, Nigeria and with a presence in twenty African countries, the United Kingdom, France, and the United States.[8] The table below illustrates the shareholding in the stock of UBA Bank Uganda, as of December 2023.[9]

United Bank for Africa (Uganda) Stock Ownership! Rank !!Name of Owner!!Percentage Ownership
1 80.0
2 Other investors 20.0
Total100.0

Branch network

As of September 2020, UBA Uganda maintained branches at the following locations:[10]

  1. Jinja Road Branch: Plot. 2 Jinja Road, Kampala Main Branch
  2. Prestige Branch/Corporate Branch: Plot. 2 Jinja Road, Kampala
  3. William Street Branch: 17B William Street, Kampala
  4. Kansanga Branch: Plot. 5277, Block 244, Kansanga, Kampala
  5. Kikuubo Branch: Downtown, near Senana Supermarket, Kampala
  6. Makerere University Branch: Makerere University Campus, Kampala
  7. Bugema University Branch: Bugema University Campus, Bugema, Luweero District
  8. Jinja Branch: 5 Lady Alice Muloki Road, Jinja
  9. Mbale Branch: 1-3 Manafwa Road, Mbale
  10. Fort Portal Branch: 8 Ruhandika Street, Fort Portal
  11. Mbarara Branch: 94 High Street, Mbarara
  12. Boulevard Mall Branch: Plot 17/19, Kampala Road, Kampala
  13. Forest Mall Branch: Forest Mall, Lugogo By-Pass, Kampala
  14. Ntinda Branch: First Floor, Ntinda Complex, Ntinda, Kampala
    1. Mukono Branch: First Floor, Cathedral House, Plot 37-39, Mukono Gulu Branch: Plot No.15 Queens Avenue, Gulu.

Recent developments

Effective 1 October 2021, Bank of Uganda, the central bank and national banking regulator, named UBA Uganda Limited, as a Primary Dealer Bank (PDB). PDBs are authorised to "facilitate the buying and selling of treasury bills and bonds to investors who do not have access to the primary market". The seven other PDBs are (1) Stanbic Bank Uganda Limited (2) Centenary Bank (3) Standard Chartered Uganda (4) Absa Bank Uganda Limited (5) DFCU Bank (6) Bank of Baroda (Uganda) and (7) Housing Finance Bank.[11]

See also

External links

0.3136°N 32.5881°W

Notes and References

  1. Web site: CEO East Africa . 13 February 2024 . UBA Uganda's Chioma Mang Turns Down Central Bank of Nigeria's Appointment As ED of Troubled Keystone Bank . 6 June 2024 . Kampala, Uganda.
  2. Web site: List of Licensed and Supervised Commercial Banks In Uganda, As of May 2019 . 18 May 2020 . Bank of Uganda . . 18 May 2020 . Kampala.
  3. Web site: Nairametrics.com . UBA Meets NSE's stringent corporate governance conditions, lists on NSE Premium Board . 17 April 2018 . NM Partners . 18 May 2020 . Lagos, Nigeria.
  4. Web site: UBA Uganda Headquarters . 18 May 2020 . UBA Uganda . 18 May 2020 . UBA Uganda . Kampala.
  5. Web site: UBA Uganda Limited . UBA Uganda Limited: Statement of Financial Position As At 31 December 2023 . 19 April 2024 . UBA Uganda . 30 April 2024 . Kampala, Uganda.
  6. Web site: United Bank of Africa invests $12m. . 20 November 2008 . Ronald Kabuubi . 18 May 2020 . Kampala . https://web.archive.org/web/20140503021837/http://www.newvision.co.ug/D/8/220/660572 . 2014-05-03 . Archived from the original on 3 May 2014.
  7. Web site: . 23 December 2008 . United Bank of Africa goes to Mbale . Mark Owor . 18 May 2020 . Kampala.
  8. Web site: UBA Plc Has Banking Subsidiaries In Over Twenty African Countries . 2014 . . United Bank for Africa . 2 May 2014.
  9. Web site: . 29 April 2024 . UBA increases stake in Ugandan, Kenyan units . James Anyanzwa . 30 April 2024 . Kampala, Uganda.
  10. Web site: 18 September 2020 . Branch List of United Bank for Africa Uganda Limited . United Bank for Africa Uganda Limited . UBA Uganda Limited . 18 September 2020 . Kampala.
  11. Web site: Primary dealer banks increase to eight . 16 September 2021 . . Ali Twaha . 19 September 2021 . Kampala, Uganda.