United Bank for Africa (UBA) Ghana Ltd has served as a pivotal driver of growth through strategic job creation and robust support for small and medium enterprises (SMEs) in the country over the past two decades, its Chief Executive Officer, Uzoechina Molokwu, has said.
He argued that the bank’s holistic approach is reshaping the budding financial sector and contributing significantly to Ghana’s overall economic development.
“We have directly employed thousands of Ghanaians across our operations since we commenced operations,” he said.
“But our impact extends far beyond our immediate workforce. Through our support for SMEs and various initiatives, we’re indirectly fostering job creation across multiple sectors,” Mr. Molokwu, who doubles as the bank’s managing director added.
The bank’s Graduate Management Accelerated Programme (GMAP) is concrete evidence of its commitment to youth employment, with 44 fresh graduates joining the bank’s staff earlier this year following the successful completion of the programme.
“GMAP is not just about filling positions; it is about nurturing the next generation of banking professionals and business leaders. We are investing in young talent, equipping them with skills to drive Ghana’s economic future,” the bank’s MD/CEO explained.
SME support
UBA Ghana’s impact on job creation is closely tied to its robust support for SMEs, which form the backbone of the domestic economy. The bank has implemented a series of initiatives aimed at empowering these businesses.
“Our regular SME workshops and monthly business series are designed to build capacity and resilience in the SME sector,” said the Managing Director.
“By providing both financial support and knowledge resources, we are helping to create an ecosystem where small businesses can thrive and generate employment.”
The bank’s lending practices are strategically aligned with key growth sectors of the economy, Uzoechina Molokwu further stated.
Consequently, UBA conducts thorough Environmental and Social (E&S) assessments for facilities in five critical sectors: Agriculture and Forestry, Construction and Real Estate, Manufacturing, Oil and Gas, and Power and Energy.
“Our lending is not just about profits; it’s about fostering sustainable economic growth. By ensuring our clients in these sectors operate responsibly, we are contributing to long-term economic stability and job security,” Mr. Molokwu emphasised.
Financial Inclusion
As part of its mandate to enhance financial inclusion, particularly among the underserved, the bank has expanded its branch network to 31 locations across five regions. The bank is working on a roll out plan to ensure presence is all 16 regions of Ghana.
Describing financial inclusion as a “key driver of economic growth,” the MD/CEO stated that by providing access to banking services in urban and rural areas alike, the bank is empowering more Ghanaians to participate in the formal economy.
The bank’s digital innovations, including the AI-powered chatbot Leo, which operates through popular messaging platforms WhatsApp, Apple message and Facebook Messenger, and enhanced mobile banking platforms, are also playing a role in economic empowerment.
At the forefront of this digital push is ‘Leo’, UBA’s AI-powered chatbot, which operates through popular messaging platforms WhatsApp, Apple Message and Facebook Messenger.
Banking for everyone
In a groundbreaking move, UBA Ghana has introduced Braille account opening forms, deposit slips, and withdrawal slips, becoming the first bank in the country to offer such a service for persons with visual impairment.
Braille refers to a form of written language for visually impaired people, in which characters are represented by patterns of raised dots that are felt with the fingertips.
“Banking should be for everyone. Our Braille services ensure that visually impaired Ghanaians have equal access to financial services, aligning with our commitment to the UN Sustainable Development Goals,” the UBA boss explained, as official statistics state that at the end of 2023, 1 percent of the population – 332,000 people suffer from severe visual impairment, with 300,000 of the classified officially as blind.
Additionally, UBA Ghana’s impact extends to women’s economic empowerment through initiatives like the RUBY Account, a special current account designed for women’s business and personal needs.
Mr. Molokwu said the RUBY account is of prime importance to his outfit because empowering women economically has a multiplier effect on families, communities, and the entire nation and the RUBY Account is UBA Ghana’s way of supporting women entrepreneurs and professionals, who are vital to national economic growth.
“Our vision goes beyond banking. We see ourselves as partners in Ghana’s economic journey, committed to creating prosperity and opportunities for all Ghanaians and over the next decade we expect to improve on these,” the MD/CEO said.
