The Lion King | 33
GMD/CEO says
UBA’s outlook in
2014 is positive
UBA lifts Donald Kaberuka, Daily Trust African of the
Year award winner, with $50,000
A
s part of 2014 agenda setting,
GMD/CEO, Mr. Phillips Oduoza,
recently engaged editors
and correspondents from key media
houses in Nigeria, in an interactive
discussion on the bank’s outlook for
2014.
GMD spoke on a number of initiatives
put in place by the bank. “The
future of the bank is very bright. UBA
is financing critical investments in
the telecommunications, power,
infrastructure, oil and gas sectors.
There is no big transaction you
can talk of today that UBA is not
I
n fulfilment of our sponsorship
support to Daily Trust
Newspapers; one of Nigeria’s
foremost newspapers, UBA,
in Abuja presented the sum
of $50,000 USD to Dr. Donald
Kaberuka, the President of African
Development Bank (AfDB), who
emerged the 2013 Daily Trust
African of the Year.
Kaberuka was chosen for the
award in recognition of his
innovative idea which led to the
participating in” said GMD.
He emphasized that the
bank’s cost-to-income ratio
has been improving. “Cost-to-
income ratio has been coming
down. It has come down
to 62 percent. Our ultimate
objective is to come to the
50s.”
On UBA Africa, he expressed
optimism that contribution
from our subsidiaries in Africa
will increase. “The ultimate
objective is to achieve a 50-
50 between Nigeria and the
various African countries” he
stated.
GMD also expressed optimism
that investors will soon
recognize the progress being
made by the bank and
appropriately price it into the
bank’s share price.
establishment of “Africa
50 Fund” to speed up the
financing of infrastructure in
Africa.
The cheque was presented
by GMD/CEO, Mr. Phillips
Oduoza accompanied by
former GMD, now Chairman
of Heirs Holdings, Mr. Tony
Elumelu.
GMD commended Daily
Trust for picking a banker to
receive the prestigious award.
“Dr. Kaberuka is a man who
understands the critical
role of finance and is using
the platform of the AfDB to
facilitate development across
the continent.” He said.
The Award was instituted in
2008 to recognize and reward
exemplary Africans for their
extraordinary contributions to
human development in any
part of the continent. UBA
has been partnering with the
award organisers since 2008
when it was first hosted.
GMD/CEO, Phillips Oduoza (left) and Chairman, Heirs Holdings, Tony Elumelu, CON
(right), presenting the $50,000 USD cheque to the Daily Trust African of the Year Award
winner and President, African Development Bank (AfDB), Dr. Donald Kaberuka
GMD/CEO, Mr. Phillips Oduoza being interviewed
by editors from major newspapers in Nigeria
News Round Up
