UBA AND NON RESIDENT AFRICAN BANKING
By Kato Mubiru
Africans in Diaspora with dealings in their mother land can now heave a
sigh of relief. This is because they no longer have to worry about
security of cash transactions across borders, courtesy of the introduction
of Non Resident African Banking services from the stable of the United
Bank for Africa Plc; the bank that is commonly referred to as Africa's
global bank.
UBA I must say is making rapid progress in the business world and gaining
popularity. Essentially I have christened its Non Resident Banking
services as ?African Rising? owing to the succour the innovative banking
service, has brought to African brothers and sisters in Diaspora with
interests in the continent. I came in to direct contact with UBA whilst on
a recent trip to Africa, a voyage which began from America and swept me
across different countries. Prior to our departure, I had concerns,
regarding security. After all, bias media coverage on activities on the
motherland; leaves one with the impression that there are muggers lurking
on every street corner.
In preparation for my trip, I researched the easiest means of traveling
around the African sub region without carrying cash and came up with UBA.
Its positioning statement ? Africa ?s Global Bank? ticked my fancy and I
naturally became curious to find out what they had to offer. Then I came
across what exactly I was looking for, Non-Resident African Banking. Even
though I was acquainted with the name UBA from a visit to the Rockefeller
Building in New York , but like many other Africans in the Diaspora, I
wasn?t familiar with all of their products. I soon learned that UBA Plc is
a full-service financial services institution, offering retail banking,
corporate and investment banking, private equity, asset management, stock
broking and custodian services. It is the largest banking group in West
Africa with total assets in excess of US$15bn and more than 6 million
customers across the region. The group according to reports has embarked
on an ambitious transformation program driven by its vision to create
Africa ?s global bank.
Now back to ?Non Resident Africa Banking services?, it truly made my
sojourn and fiscal transactions in the motherland easy. Non Resident
banking services allows you to conduct financial transactions with ease
through the internet. Essentially it enables you can open and operate a
savings or current account, invest in shares, buy properties e.t.c.
without relying on third parties to handle financial transactions on
behalf of us diaspora Africans.
Consequently I went to the bank?s website, and downloaded the Non Resident
African Account form, filled it out, and posted it to the listed address.
A couple of days later; a response came in the mail. My Non Resident
African account was up and running after which I had it funded. Unlike
America and Europe, travelling in Africa requires additional planning
because of the relative lack of sophisticated financial services. For me
therefore, travelling from the US to London , West Africa, then to East
Africa, and transiting for a week in Central Africa , sure required proper
planning. With a UBA account, I was able to travel in style and conduct my
business with no relative ease. My relationship managers at UBA were with
me all the way, though not physically. As I was departing the US , I sent
them a missive that I will be in London and will need funds. Upon arrival,
the funds were easily accessible via my Visa Dual Currency Debit Card on
the UK ATM for me. After a few days in London , I decided it was time to
hit the road again. My next destination was Uganda , in East Africa . When
I reached Obote country, my funds saved in UBA were once again available
at a my Visa ?enabled ATM card. Since my schedule was fully booked, I did
not have time move around, but was able to conduct business in Ghana and
Ivory Coast . While in Uganda , all it took was to communicate with my
relations manager, who made funds transfer to my business associate in
these countries. By the time I arrived in Ghana and Cote de Ivoire, my
transactions were fully consummated. My experience with UBA has been quite
satisfactory I must say.
As Africa?s Global Bank, UBA has been making significant press in
expanding its footprints across Africa . Only recently, United Bank for
Africa (Sierra Leone) Limited commenced banking operations in Freetown,
Sierra Leone at the bank?s first branch and Head Office located at 15
Charlotte Street, Freetown. Receiving the license, the Managing Director/
CEO of UBA Sierra Leone, Mr. Abdurrahman Yinusa urged Sierra Leone to
embrace UBA and view the bank as a partner in the development and economic
growth of the country. ?As Africa ?s global Bank, we are committed to
bringing comprehensive world-class financial services to all the markets
in which we operate and make positive contributions to their respective
economies at large,? he remarked.
In addition to introducing innovative products and services to the market,
UBA is determined to change the way people bank in Africa , asserting that
the bank will make banking accessible for all and provide banking
solutions that suit the needs of the customer.
UBA Sierra Leone brings to Eight, the number of African countries, where
UBA Group currently has presence [i.e. Nigeria, Ghana , Uganda , Cameroon
, Cote d?Ivoire , Liberia , and Sierra Leone]. The group?s increasing
network in Africa now spans countries in West, Central and East Africa, as
well as having an international presence in London , New York and the
Cayman Islands . To sign up for a UBA account, the following is needed:
Basic Requirements:
Valid proof of Identification - Driver’s License, International Passport,
Residence Permit or Work Permit (necessary to confirm customer’s status) Proof of source of funds (Employer’s reference, Letter of employment,
Work ID, Recent Payslip, Evidence of Business registration, Business Bank
statements, or Banker’s Business reference) Proof of address (Current Utility bill not exceeding 2 months), last 6
months Bank statement, or copy of any letter received within the last 3
months from existing Banker. Attestation of photocopies of attached