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UBA Is Well-Positioned To Benefit From Recovery Trends In 2021 Says Elumelu

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Pan African financial institution, United Bank for Africa (UBA) Plc has assured its teeming shareholders and investors of even greater returns in the coming months, with the bank having established a diversified business model that ensures impressive performance even in periods of uncertainty, across its geographical network.

UBA Group Chairman, Tony O. Elumelu, who gave this assurance to shareholders at the 59th Annual General Meeting at the UBA Head Office, on Thursday April 1, 2021, explained that the bank has made strategic decisions that will strengthen its resolve to earn the industry leadership that it has envisioned in Nigeria, Africa and globally.

“We spearheaded strategic investments in our digital banking and technology platforms to further promote self-service banking; we have also focused on enhancing the capabilities of our people through various online capacity development programmes,” Elumelu added, “Our African operations (ex-Nigeria) have contributed approximately 55% of our profits for the year, illustrating that we are truly a pan-African bank.”

To this effort, UBA Ghana contributed 11% of the Group’s Operating Income and 12% of the Group’s profit before tax. UBA Ghana also contributed 9% of the Group’s Profit After Tax.

The Group Chairman further explained that the bank remains committed to ensuring its viability amid an ever-changing business environment and to continue be a role model for African businesses by showcasing the best of Africa to the world. “The work we have done in strengthening our governance structures Group-wide and in improving our business and operating models in 2020 positions our bank to benefit from these recovery trends and to achieve significant market share gains across our operations,” he noted.

At the end of the 2020 financial year, UBA’s profits grew remarkably by 27.7 percent to N113.8 billion (GHS 1.59 billion), compared to N89.1 billion (GHS 1.25 billion) recorded at the end of the 2019 financial year, whilst profit before tax was impressive at N131.9 billion (GHS 1.85 billion), compared to N111.3 billion (GHS 1.56 billion) at the end of the 2019 financial year.

Gross earnings grew by 10.8 percent to N620.4 billion (GHS 8.69 billion), compared to N559.8 billion (GHS 7.84 billion) recorded in the same period of 2019 whilst total assets also grew by 5.6 percent to an unprecedented N7.7 trillion (GHS 107.8 billion) for the year under review.

In its usual tradition of rewarding shareholders, the bank proposed a final dividend of N0.35 kobo for every ordinary share of 50 kobo, bringing the total dividend for the year to N0.52 kobo as the bank had paid an interim dividend of N0.17 kobo earlier in the year.

Shareholders at the meeting commended the bank’s decision to plough-back some of its profits into business consolidation, adding that these times call for prudent and effective management of financial resources for all businesses especially those with high shareholding rate such as UBA.

One of the shareholders, Sir Sunny Nwosu, who spoke at the meeting, commended the board and management of the bank company for keeping up with its activities despite the Covid-19 pandemic and its resultant effect on major businesses.

Whilst advising the company to gear up efforts to increase dividends in the next financial year, Nwosu praised UBA’s for ensuring that the African subsidiaries performed well by contributing 55% to the Group’s business.

Another shareholder, Nonah Awoh, who agreed with the improvement recorded from the bank’s Ex-Nigeria’s subsidiaries, encouraged the management to boost other subsidiaries with the needed resources to help them perform even better in the current financial year.

UBA’s Managing Director/Chief Executive Officer, Kennedy Uzoka, who responded to shareholders’ comments at the meeting spoke on the reduced dividend pay-out this year, explaining that the bank had decided to be conservative to further strengthen the business.

He said, “As an institution that has been in operations for 72 uninterrupted years, UBA wants to continue to perform optimally. In line with this, we have used most of our funds to prepare for unforeseen challenges. Given the trajectory and the resilience of our business, we can assure you that we will meet and surpass the expectation of you our shareholders.”

Continuing, he said, “We have recalibrated our business structure, starting from Lagos and extending to the South-South. We have bolstered them with the necessary leadership to achieve our aim. We believe that with these measures we have put in place, our Nigerian business will give the rest of Africa a good fight,” Uzoka said.

United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty-one million customers, across over 1,000 business offices and customer touch points. Operating in 20 African countries with presence in the United States of America, the United Kingdom and France, UBA is connecting people and businesses across Africa through retail; commercial and corporate banking; innovative cross-border payments and remittances; trade finance and ancillary banking services.

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It’s All About Exciting Thrillers As Africa Magic’s New Series, ‘Dilemma’ and ‘Venge’, Premiere In October

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Africa Magic, the continent’s leading provider of premium and authentic African stories, for and by Africans, will premiere two new double bill telenovelas; Dilemma and Venge in October 2021 exclusively on Africa Magic Showcase.

Dilemma follows the lives of two estranged lovers – Kaineto and Kanan. After years of separation, they find their way back to each other and have to deal with a history they would both rather forget. Love leads them back together, but it may not be enough to conquer all the challenges they will have to face.

Dilemma will air every weeknight from Monday, 4 October 2021 at 8 pm on AM Showcase (DStv Channel 151). It stars some of the finest talents in Nollywood like Shan George and Bob Manuel-Udokwu, and new faces like Treasure Obasi and Vine Ogulu. It also features BBNaija stars, Neo Akpofure and Daniel ‘Sir Dee’ Atteh.

On the other hand, Venge tells a scandalous story of secrets, lies, and betrayals. Viewers will get to go on a journey with Bibi as she unravels several conspiracies trailed by murder and fear on her quest for justice and revenge. This telenovela starring Michelle Dede, Uzoamaka Aniunoh, Obehi Aburime, Uche Mac-Auley, and Ian Wordi will air premiere every weeknight from Monday, 4 October at 8:30 pm on AM Showcase (DStv Channel 151).

These two new telenovelas present fresh storylines, suspense-filled plots and parades a mix of established and upcoming names in Nollywood that will have viewers from across Africa immersed in yet another top-notch Africa Magic production.

Executive Head of Content and West Africa Channels, MultiChoice Nigeria, Busola Tejumola said: “We are excited to premiere these telenovelas on our Africa Magic channels as it once again underscores our positioning as Africa’s most loved storyteller. Venge and Dilemma explore modern-day themes that viewers will connect to at different levels. Each plot, twist and suspense will keep viewers from across Africa on the edge of their seats as they follow the drama and connect with the characters”.

Tejumola also disclosed that DStv and GOtv customers should look forward to other exciting new and returning shows towards the end of the year on Africa Magic.

The Producers, Uche Ikejimba for Dilemma and Tosin Igho for Venge both revealed that viewers should expect a captivating story, one that will keep them on the edge of their seats and glued to their screens.

On what makes the telenovelas a cut above the rest, Ikejimba said: “Dilemma is set in two-time jumps; 1998 and 2021. Viewers will have the luxury of experiencing the story in the 90s hence bringing back many nostalgic moments. This time jump gets to see characters grow as viewers experience their journey together”. For Venge, Igho said: “Venge is a fresh take on the Telenovela genre. It contains many of the same elements that audiences are used to but adds its own unique brand of action paired with a stunning visual style”.

DStv Premium viewers will be able to watch Dilemma and Venge on the go via the DStv app on multiple devices at no additional cost. The app is available for download from the Apple and Google Play stores.

Both series will also be available on the online streaming service, Showmax, which is available to DStv Premium customers at no extra cost.

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Hollard Ghana’s Patience Akyianu Is The African Female Business Leader Of The Year

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Hollard Ghana’s Group Chief Executive Officer (GCEO) Patience Akyianu has achieved continent-wide recognition as the African Female Business Leader of the Year at the just-ended 6th Invest in Africa Summit 2021 (virtual) organized by the prestigious African Leadership Magazine.

The award ceremony was held as a highlight of the 6th Invest in Africa Summit which was organized under the theme: Africa 4.0: Redefining Growth, Sustainability, and Innovation.

African Business Leadership Awards seeks to acknowledge and commend top-performing individuals for their selfless services to nation-building. This meritorious award recognizes leading lights on the continent, contributing towards changing the African narrative.

The selection process ethics entails three steps, involving nomination, subsequent voting, and final screening by the editorial team of the African Leadership Magazine.

Patience Akyianu emerged winner of the African Female Business Leader of the Year category. Patience was recognized as an exceptional female leader, with fantastic managerial skills who despite stiff competition in a male-dominated world, has shown resilience, courage, and sagacity in building a worthy brand.

Receiving the award, Patience Akyianu in her acceptance speech expressed profound gratitude to God, the advisory council, the editorial team, and Dr Giami of the African Business Leadership Awards.

“I am so delighted to be honoured as the African Female Business Leader of the Year and I give all the glory to God from whom all blessings flow. I am completely stunned by the massive support I have received from across Africa, especially from Ghana during the voting process and I thank everyone for this overwhelming vote of confidence. It is clear to me that, I could not have emerged the winner of this prestigious award without the help and support of my family, friends, my church community, colleagues at Hollard Ghana, and the various networks I’m part of”.

“I, therefore, dedicate this award to my entire network and all the people who have contributed to making me who I am today. I’m very encouraged by this recognition and will continue to contribute my best to the financial services sector and the development of our continent. Together through hard work, we will create and secure a better future for all. Thank you for this international honour,” she added.

According to Dr Giami, the Publisher of the African Leaders Magazine, the 2021 Africa Business Leadership Award (ABLA) celebrates grit, purpose, and impact in Africa’s business environment, especially in what continues to be a difficult period for most people due to the impact of coronavirus. He further added that the leaders who have emerged winners in the various categories have exhibited these celebrated attributes in admirable capacities and are deserving of great accolades.

About Hollard Ghana

The country’s favourite insurance group is Hollard Ghana, with subsidiaries Hollard Insurance and Hollard Life Assurance. The group combines its deep local knowledge of the market having previously operated in Ghana for 25 years as Metropolitan Insurance with the world-class expertise of an international insurance brand in 18 countries across the world.

With feet firmly planted on Ghanaian soil but headquartered in South Africa, Hollard delivers innovative insurance solutions customized to the unique risks Ghanaians face. Hollard offers various life and general insurance products including funeral, personal accident, motor, business, travel, home, and more; and can be reached via the following means: 0501603967 (Hollard Insurance) and 0501533698 (Hollard Life).

Beyond various nationwide office branches and Hollard 2U franchise shops, Ghanaians can find Hollard at Shell Fuel Station Welcome Shops, Melcom stores and online at www.hollard.com.gh and www.jumia.com.gh for all their insurance needs.

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RISING MTN HITMAKER STAR FEATURES JOE METTLE ON NEW HIT SINGLE – ‘MY MIRACLE’

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The Reigning MTN Hitmaker Season nine (9) Winner, Adepa Zela, is about to release her second hit single, ‘My Miracle’.

On this project, she teams up with the super sensational Gospel Artiste and VGMA Artiste of the Year 2017 – Joe Mettle.

Her first single, ‘Same God’ which was released in March this year received rave reviews and also inspired some dance challenges on social media. (https://www.instagram.com/p/CTARG_dDYDM/?utm_medium=share_sheet) (https://www.instagram.com/p/CO96IcXJYIL/?utm_medium=share_sheet)

Zela, with this upcoming single, looks forward to ushering us into a spirit-filled experience together with Joe Mettle on her original Song, ‘My Miracle’.

Interesting to note, Adepa Zela is the first ever gospel artiste to win Mtn Hitmaker, and Joe Mettle is the first ever gospel artiste to win VGMA. These indeed are two history-making Miracles for both Joe and Zela, hence the birth of ‘My Miracle’.

‘My Miracle’ will be finally available on all stream sites on Wednesday 22nd September, 2021. Don’t miss out on this one. Be the first to catch it on Wednesday!!!

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