One major point that came out of this IMF meeting is that banks and banking regulators should watch it because as interest rates go up, there is a possibility of loan default. Is that a concern?
Banking is a highly regulated business and we are very grateful of the good job our regulators are doing across various markets. We will continue to work within those regulations but we should not focus so much on the risks that we forget the opportunities. We have to continue to manage the risks. We have to strike a balance and manage the risks. We also have to develop the opportunities that abound.
With all the talks on intra-Africa trade, how positioned is UBA for Africa and international trade in general?
Intra-African trade is actually our key area of strength. Our presence in 20 African countries is to drive inter-African trade. Our partnership with ACFTA is also to drive intra-African trade. Today, you are aware that AFREXIM Bank has Pan-African Payment & Settlement System (PAPSS), a payment system for settlement of business transactions across Africa and UBA is in the forefront of that partnership. Inter-African trade is important. Africa needs to trade more with each other and that will further improve economic development across the continent.
Prior to your GMD’s roles, you were once CEO of UBA Africa. Can you tell us of possible trends in banking and the economy in Africa?
The most important thing today is for Africa to drive financial inclusion. We still have a lot of Africans that are left out of the banking industry. That is where UBA comes in. UBA is in the forefront of using digital technology to drive financial inclusion and that is important. We need to build strong Africanfinancial institutions that will be able to support infrastructure, SME development and the overall development of the continent. That is why UBA is working with development partners who share this same vision. The vision that Africa really needs to move and improve the level of development in the continent and this has to be done by Africans working with like minds.
You have been in Marrakech for some days now, what are your thoughts about the IMF and World Bank meetings so far?
First of all, I would like to appreciate the people and government of Morocco for the excellent hosting of the IMF/ World Bank meeting. The feedback I have been getting from a number of people is that it is one of the best meetings in recent times. And that it is happening on African soil is something we are proud of and I am really glad that it’s happening in the Kingdom of Morocco in Africa.
I would like you to speak on UBA’s international operations and also on your recently released financial statements?
UBA is a bank focused on African development. My presence has been such that we are inspired by all the developments in Africa. I have held very fruitful meetings with some of the development partners Ihave also had very good meetings with some of our customers here, who also share the same development agenda for Africa. This is the time for UBA working with other development partners, and other corporate organisations across Africa to develop the resources and opportunities that are available in Africa. We are today present in 20 African countries and four other countries outside Africa. Africa has tremendous opportunities and we need to have partners, institutions that will be able to harness these opportunities for the people. UBA is well positioned to facilitate business betweenAfrica and the rest of the world and also among African countries. That is why we are here in this meetings.
You talked about partnership with development partners, and some of the things that have been discussed here at the meeting are growth for Africa, sustainable financing and climate change. Are we expecting agreements between UBA and other development partners?
I can tell you that a lot of agreements will come out of this meeting. But you are also aware that UBA has put forward $6 billion for SME financing, working with the African Continental Free Trade Area. Today, we had a very fruitful discussion with the International Finance Corporation (IFC) and AFREXIMBank. We have also had useful discussions with the African Development Bank (AFDB). We are looking at how to partner to move Africa forward particularly as it concerns SMEs and women. We believe that African women can be more empowered to do more for African development and UBA is in the forefront of these initiatives.
Do you have any plan for expansion of your international operations?
We will continue to expand UBA’s presence in Africa. Today, we are consolidating. We think that within the countries where we are present, we can do a lot more to increase our share of business. We also think that if opportunity comes for other African expansions why not, we will take that opportunity. After all, UBA is for Africa
UBA is today, Nigeria’s most profitable bank, how do you sustain the excellent performances and what contributed majorly to the phenomenal performance?
UBA’s performance in the 2022 financial year was impressive. The 2023 half year result, from what we can see further recorded tremendous improvement. We think that our diversifications in 20 African countries and four other countries outside the continent are beginning to yield a lot of fruits. We need to harness these opportunities. We have to go beyond Nigeria, to Africa, to the rest of the world to show that indeed there are opportunities for us in Africa and the rest of the world.
Terra Seasoning Cube Wins Marketing Campaign Award
Terra Seasoning Cube’s recently launched campaign, “Unwrap Joy, Unleash Taste,” has been honoured with the prestigious “Best Marketing Campaign of the Year 2023” Award at the recently concluded Marketing Edge Brands and Advertising Excellence Award 2023.
According to the organisers of the Marketing Edge Brands and Advertising Excellence Award 2023, the award is a recognition and celebration of the brand’s odyssey to becoming one of the most sought-after seasoning cubes in the Nigerian market.
Chief Marketing Officer, TGI Group, Probal Bhattacharya, upon receiving the awards, stated that he was immensely proud to receive the ‘Best Marketing Campaign of the Year’ award for Terra Seasoning Cubes Campaign.
“We set out to create a campaign that not only showcased our product value but also connected with our audience at a deeper level. Winning the Best Marketing Campaign of the Year award validates our effort and motivates us to continue pushing boundaries in the seasoning cube category,” he said.
For TGI Group, the campaign was creatively and carefully crafted to ensure that consumers realise that cooking doesn’t necessarily have to be a chore but a moment of joy and expression of creativity, while encouraging consumers to experience the sheer joy of cooking a tasteful meal with Terra Cube.
According to the company, ‘‘This prestigious recognition underscores the brand’s remarkable creative marketing prowess, innovation, impact, and its profound connection with consumers through this groundbreaking campaign. Extending its reach across a wide spectrum of media channels, the “Unwrap Joy, Unleash Taste” campaign has captivated consumers and industry experts alike. With its commitment to elevating everyday cooking experiences, Terra Seasoning Cube’s new campaign has inspired a movement centred around the joy, taste, flavour, aroma, and versatility that it brings to the kitchen and the unique palates of Nigerians.’’
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