United Bank for Africa to Approve African Currencies to its Twenty African Branches
By Abdul Rahman Suagibu –
NEW AFRICA BUSINESS NEWS, Freetown, Sierra Leone- NIGERIA, United Bank for Africa (UBA) Plc has divulged the official launch of UBA Connect – a new product and service that “enables the customers of the bank to conduct traditional banking transactions at any UBA branch in the twenty African countries where the bank operates.”
This service is to build intra-Africa trade as cash withdrawal could be done in local currencies within the continent, as deposits could also be made at any locations irrespective of where the account is homed. The service is available to both customers and non-customers according to a report.
The Chief Executive Officer UBA Africa – Oliver Alawuba, stated, “Africa stands to benefit substantially from intra-Africa trade, which is facilitated by the easy flow of capital within the continent.
“As a bank committed to creating superior value for all its stakeholders, we are focused on ensuring that we continue to contribute significantly to the development of Africa by improving accessibility and trade with UBA Connect, among other innovative services.”
Alawuba receded that, the service bestows easy transfers to UBA accounts across African countries as well as cash deposit into UBA accounts at any of the bank’s locations in Africa, adding that the cash “will be dispensed to customers in local currencies at competitive exchange rates.”
The Group Head of Marketing -Dupe Olusola noted “We’re thrilled to be able to offer our customers the ease and convenience of UBA Connect.
“This is in addition to an array of digital platforms which have made banking seamless for more than 12 million people who have trusted us with their money.”
In a bid to utilize the service at any UBA business location in Africa, a UBA Connect Send, Receive or Transfer form needs to be completed, with valid identification (International passport with valid visa or migration stamp, in the case of ECOWAS member countries).
For New Africa Business News Abdul Rahman Suagibu Reports, Africa Correspondent
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