Banking in Uganda has probably never been more competitive than it is at the moment. It is 2018 and there’s a bank branch almost at every corner you turn. Where there is no branch, there is an ATM or your usual corner shop doubling as an agent for one of the banks. In between all these spaces are countless mobile money agents serving the telecoms and as if that is not enough, betting shops are also spreading like a bad rash also waiting to receive your money and hopefully give some back.
In such a sea of competition, only the strategic ones can brave the waves and service as a dependable vessel that you can entrust with your financial demands. UBA Uganda is that kind of vessel. For starters, they have been around for 10 years, a period within which, they have etched themselves in our hearts as a bank one can trust to deliver customer centered services at both the retail and wholesale side of business.
In the last 10 years, UBA Uganda has grown to have 11 branches, a Redshop, 12 ATMS and over 250 POS machines across the country. At a recent press conference held at the Golden Tulip Canaan Hotel Kampala, United Bank for Africa (UBA) laid out its new strategic positioning aimed at achieving market dominance. UBA intends to leverage on its group strength to finance large ticket transactions in major sectors such as infrastructure, agriculture and of course oil and gas.
This is a new day for United Bank for Africa and it’s the time to reclaim our position in the Ugandan banking sector. We plan to introduce new products and services that will transform the industry and UBA. We are confident that with these developments and the customer at the centre of it all, we shall achieve our goal of market dominance. – Johnson Agoreyo, Managing Director UBA Uganda)
In other words, the bank seems to have done its homework, seen where Uganda is heading and decided to position itself as a financial guide to that destiny. However, these guys are not gambling, they have vast experience in financing big projects in different parts of Africa. It is this wealth of experience that they are unleashing onto the market.
Currently, the Bank has a number of strategic partnerships with various ministries and government departments like Ministry of Finance and Economic Development, Ministry of Agriculture, Animal Industry and Fisheries as well as Uganda Revenue Authority. the Bank is clearly keen on offering robust financial services for these government bodies and to finance key government projects.
The retail market where they have already excelled is not being left out as well. Here the focus will remain on delivering excellent customer experiences and addressing the needs of the millennials; the young bankers that many of their competitors struggle to satisfy. New products like mobile banking, agency banking and Leo, the UBA Facebook baking assistant, a first in Uganda are all lined up to keep the youthful bankers smiling.
According to Ramon Nasir, the UBA Group Head, Media Relations and External Relations, UBA Uganda is in this boastful stance largely because it is a well anchored Pan African Bank with a clear footprint in 20 countries and the three global financial centres of London, Paris and New York. It is has the resources and the continental experience required to dominate the market here. Going forward the Bank will embark on strategic brand awareness and visibility for its products to strengthen its commitment to offering impeccable and memorable customer experiences.