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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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Nautyca Partners Michy On An Amapiano Inspire Joint

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Sensational rapper, Nautyca has served fans with some hot steaming raw sauce in his latest collaboration with none other than the queen herself, Michy and it’s simply titled; OK.

I guess it is truly ‘Ok’ to have two buzzing acts converge on one dope soundtrack to produce some musical magic in the fast-spreading genre of Amapiano.

Produced by Sky Beatz, the South African-inspired Amapiano sound that is the current vibe in town finds exclusive expression and customization to the Ghanaian ear via the creative lyrics of Nautyca and Michy.

Whether it’s that intensive gym workout or a night out with the guys, this certified banger will set the tone for an upbeat atmosphere.

Don’t delay the jam, get moving to the tune right away! OK is available on all streaming platforms worldwide here – https://fanlink.to/NautycaOK

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Incredible Zigi Storms Accra Mall With Guinness Ghana’s Black Shines Brightest Flash Mob

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In between the daily deluge of late afternoon stress, shoppers, workers, and passersby at the Accra Mall were entertained to an energetic flash mob performance led by none other than Ghana’s dancing sensation, Incredible Zigi.

The flash mob which generated waves and trended on social media is an ode to Guinness Ghana’s Black Shines Brightest Campaign and a means to call on Ghanaians to join the new and exciting wave of up-and-coming cultural change makers within Ghana and Africa at large.

Onlookers could not hide their amazement and excitement as many who were present pulled out their phone cameras to record a moment that would never come back but only be etched in their minds as one of the most memorable.

‘Black Shines Brightest’ is a new Pan African campaign celebrating the iconic black liquid enjoyed all over the continent for over a century.

This new campaign is inspired by the bold and unique black beer of Guinness stout and brings together passionate and creative individuals to celebrate the spirit of Guinness and its home across African markets Energetic and empowering the campaign celebrates individuals coming together, fizzing with optimism, creativity and potential and the flash mob performance fell nothing short of portraying the creativity of individuals coming together with so much energy and pizzazz to dance to a tune that tells the whole of Ghana and Africa that indeed Black Shines Brightest.

Throughout the campaign, Guinness is working with real culture makers from across the continent who demonstrate how Black Shines Brightest in a range of different ways.

These individuals will create moments, events, and content to be enjoyed by everyone and as the Ghanaian brand influencer, Incredible Zigi has proved that he is indeed a real culture maker through his recently gone viral dance challenge and storming Accra Mall with arguably the most energetic flash mob performance ever seen in Accra.

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Oduma Essan Sings For African Ladies On ‘Bigi Bigi’ Single

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Picking up at a fast pace in the music scene is the Ghana-based Nigerian crooner, Oduma Essan who has just served fans with the hottest tune dubbed, Bigi Bigi.

Talk of an unmatched enthusiasm and an eye for excellence and quality and Oduma’s name pops up effortlessly as evidenced by the crisp visuals, hot models, scenic environment, top notch graphics and overall breathtaking creativity that went into the production of his latest audiovisual.

Directed by Yaw Skyface, visuals for Bigi Bigi exudes the taste and lyrical structure that the single expresses as it talks of all the captivating features that women have been blessed with.

Produced under the auspices of BNS Records, the Afrobeat juice is just the right liquid fuel you need to fire up that cozy intimate time with the gyal dem!

This is just the start for many more professional projects, live performances, artistic sightings, lyrical flows and wholesome dopeness from the camp of the latest Afrobeat sensation.

Oduma Essan has worked with Joey B, Zlatan, Peruzzi, and Orezi on previous tracks released.

With the circulating conversation of how we need to step our game in the music industry as artistes and industry players and the need for us to invest in our music videos, Oduma is here to be a paragon of ideal musicianship.

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