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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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IK Osakioduwa Returns As Host For Nigerian Idol Season 7

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After a thrilling ride filled with suspense and humour in the last season, IK Osakioduwa is set to return as a second-time host for Nigerian Idol season 7.

He has always given nothing short of savviness, excitement and humour both on-air and now on stage, which is why we have no doubt that the Nigerian Idol season 7 is in good hands.

IK Osakioduwa is a media personality to be reckoned with, having spent over a decade as a broadcaster at Rhythm 93.7, and hosting a number of high profile events across the continent including the Big Brother Africa show.

“I’m so excited to be back on the show because coming back for a new season means that I did well the previous season. I’ll be bringing a lot to the table this season and I can’t wait for the viewers to see what we have in store.” He said.

His versatile presenting skills cut across a variety of shows and events. He has been the only male host of the AMVCA since 2013. He has also hosted the Most Beautiful Girl in Nigeria pageant for five years in a row, Rhythm Unplugged for four years in a row, Comedy Club: Live in Lagos for four years in a row and The Voice Nigeria for two years in a row. He has appeared on other shows including Mnet’s Studio 53, Temptation Nigeria and Comedy Nites.

With his demonstrated savviness and ability to keep an audience engaged, IK is undoubtedly a host who will deliver value to the show.

Nigerian Idol has without a doubt been a huge and successful singing competition famed for producing some of the biggest music acts in the country such as Timi Dakolo and Omawumi (it was then referred to as Idols West Africa) and break-out gospel singer Mercy Chinwo.

Nigerian Idol Season 7 will air from Sunday, 6 February on DStv channel 197 & GOtv channel 29.

The headline sponsor of Nigerian Idol season 7 is Bigi Drinks and the co-headline sponsor is Binance.

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Oduma Essan Hires East African Hip-hop, Fid Q For The Official New Year Banger

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Fast-rising crooner, Oduma Essan has inserted a banger suitable for your perusal this yuletide and he brands it as; Trap.

The mid-tempo laid-back vibe is an Afrobeat tune that is set to deliver it’s sonic ambiance throughout the entire room or outdoor space that is being played.

Featuring Fid Q, the tune is an attempt by the talent to expand his horizon and music appeal following the release of his initial hits such as Bigi Bigi, Show Body, among several others.

Fid is said to be one of the artists who brought honor to Hip hop in Tanzania and East Africa with his well-known song Mwanza Mwanza wherein there is unique writing that has been different from the usual one (narratives/streams)

He has repeatedly been named the best hip-hop artist of all time in Tanzania and East Africa (by Felix Nyaumbu).

In commenting on his latest release, he stated, “The reason for this collaboration was to expand my career to other parts of the continent and the world at large.

It’s for the fans to know that we have something better to give the people for the Christmas and new year to make them happy and bring them fun”. Watch the video on YouTube here – https://www.youtube.com/watch?v=DMv_JuV8gRE 

Get interactive with Oduma across his socials and stream now across all digital streaming platforms here – https://song.link/i/1601233440

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Carol Ofori Shares Five Tips Parents Should Know Before Their Child’s First Day Of School

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Children around the country are preparing for a new school year. This time of year is always filled with excitement but also a whole lot of anxiety from both parents and scholars as they prepare to tackle the year ahead.

Television and radio personality Carol Ofori, a doting mom to two beautiful children host of the empowering educational series ‘Raising Babies 101’ every Monday at 09h00 on SABC 2, shares some tips she believes all parents should know before their child starts a new school year.

Are YOU ready?

I hope you are rested, mom, dad or guardian! The year ahead is going to be hard, daunting, challenging and exciting at the same time. Make sure you, as the caregiver, are well rested, in a good mental space and ready to take on the year.

Planning is key

It’s always important to plan ahead. A new school year often means new extra mural activities, play dates, parent-teacher meetings and so much more. So, plan your days accordingly. It won’t hurt putting together a calendar of sorts to ensure that you don’t miss anything. Don’t underestimate the power of a checklist so you can make sure your child has all the uniform, stationary, books and food they need to get through their school day.

Develop a routine

It’s very important, especially if your kids are younger, to get them into the routine of school at least three days before school starts. If school starts on Wednesday, my kids will be in bed by 7pm from Sunday night and I will be waking them up at 6am to start setting that routine in. In our home, we try have dinner at 4pm, at 5pm we start the bathing routine so that we can spend some time reading to our kids at 6pm before they head off to bed. Find a routine that works for you and get your children into that routine a few days earlier. Trust me, it will make all of the difference.

Make sure your chosen school is the right fit

The right school is so important to make sure your child is developing the best way they can. I hope you spent time over the festive season bonding with your kids and finding out more about their likes and dislikes, what they loved about the schools they were at and what they didn’t like. If you are sending your child back to the same school, make sure that that environment is the right fit for your child to thrive in. If it’s not, there are platforms like ratingsforschools.co.za that will help ensure that your child finds a school that will cultivate their specific needs and has all the necessary resources to do so.

Get your children excited about the year ahead

The start of the new school year is always a big moment for children and, while it may seem daunting to leave their parents or go into a new class with new teachers and students, it’s also such an exciting time for them as well. So, elevate that. Map out exciting events that may be coming up in the year, include them in the preparation process by letting them pick out a new backpack or new stationary which will help shift their mindset to a positive one.

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