United Bank for Africa (UBA) Plc Chairman, Mr. Tony Elumelu, has formally inaugurated a Group Board Meeting as a platform for group integration, bonding and knowledge sharing. The inauguration climaxed a three-day forum held in Lagos, Nigeria, from April 6 to 8, 2016.

Ninety participants comprising the entire Board of UBA, Chairmen and CEOs of UBA subsidiaries in Africa and the United Kingdom, Group Strategic Business and Support Heads, amongst other special invitees and guest facilitators, were in attendance.

The Group Forum serves as an interactive platform for knowledge sharing on issues ranging from Corporate Governance to Institutional History, Board Effectiveness, Brand Projection, Empowerment and Accountability, among others.

Speaking during the forum, Elumelu said: “As long term investors and Africa enthusiasts, we are committed to the markets in which we operate and to the wider African economy. We will continue to work with credible partners and governments across Africa to identify and develop those critical growth poles required for the sustainable development of all African economies.”

The maiden forum coincided with the 54th Annual General Meeting (AGM) of UBA which held on April 8. Participants were also able to celebrate the bank’s stellar financial performance and the staff who made this possible at the annual UBA CEO Awards ceremony, which was held the next day.

The Group Board Forum resolved to reposition UBA as the leading pan-African Bank across all key indices – brand equity, human capital, customer service and profitability whilse also inculcating a culture of responsiveness in UBA. Other top of the agenda items included Know Your Customer (KYC) and Anti-Money Laundering (AML) policies and compliance standards across the Group. There was a general agreement among participants that there will be zero tolerance for any regulatory infraction across all operations.

UBA reported credible financial results in 2015 in what all recognise was a challenging macro environment. Gross earnings were N315bn whilst operating profits stood at N69bn. UBA Africa operations currently contribute about 25% of these earnings but are poised to contribute much more and should over time account for as much as 50% of overall Group profitability.

For this to happen “we must inculcate a culture that enforces individual accountability, a high sense of urgency and a customer first orientation in getting things done. Responsiveness and accountability are key attributes of High Performing Organisations,” Elumelu said.

•Photo shows UBA Group Chairman, Tony O. Elumelu (9th from left), GMD, Phillips Oduoza (10th from left), Group Managing Director Designate (15th from left), Board Chairmen from the 18 subsidiaries in Africa and some members of Executive Management.

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