The Lion King | 31
UBA set to take over the Retail and e-Banking space – Oduoza
G
MD/CEO, Phillips Oduoza has
assured that UBA sees huge
opportunities in areas of
retail and e-Banking in Africa and is
positioned to take full advantage of
these opportunities as they arise.
“We are positioned to play the lead
role in creating the value chain that
takes advantage of the emerging
opportunities in retail and e-Banking
through our vast customer base,
branch network and secured,
cutting edge electronic banking
platforms”
The GMD said this while fielding
questions from the media on the
sidelines of the World Economic
Forum (WEF) on Africa in Abuja.
He explained that while retail
banking is still evolving in Nigeria, a
huge market is being exposed by
modern malls opening up businesses
in Nigeria which opens up a window
of opportunity in retail and e-Bank-
ing offerings. He assured that UBA
has developed an array of tailored
products and services to fully take
advantage of these emerging
opportunities across Africa.
“Nigeria’s Retail Sector Holds Huge Potential” Says GMD
N
igeria’s retail sector holds huge
potential for growth, our GMD/
CEO, Phillips Oduoza has said in
a keynote address at the 2014 ‘Retail
Leaders’ Conference held at the
Sheraton Hotel, Lagos, Nigeria where he
L-R: Phillips
Oduoza, GMD/
CEO, UBA Plc; Tony
Elumelu, Chairman,
Heirs Holdings and
His Excellency,
John Mahama,
President of Ghana
during a meeting
with the President
on the sideline of
the World Economic
Forum on Africa in
Abuja, Nigeria
R-L: Director,
Consumer
Banking, UBA
Plc, Mr. Ilesanmi
Owoeye; CEO,
Ruff ‘n’ Tumble,
Mrs. Adenike
Ogunlesi;
Executive Vice
President,
DMSRetail, Mr.
Matt Parmaks
and President,
DMSRetail, Mr.
Joseph Ebata
L-R: Prime Minister of Côte d’Ivoire, Daniel
Kablan Duncan and GMD/CEO, Phillips
Oduoza in a private meeting
was represented by the bank’s Direc-
tor of Consumer Banking, Mr. Ilesanmi
Owoeye.
The GMD listed several factors driving
the growth of Nigeria’s retail industry.
These factors include the ongoing
reforms in key sectors of the Nigerian
economy aimed at bridging infrastruc-
tural gap, reducing unemployment
levels and improving literacy level. Also
included is the improvement in access
to funding by SMEs, which will signifi-
cantly impact the level of disposable
income and effective demand in the
near future, thus affording the sector
unprecedented growth opportunity.
“Without doubt, the continuous rise in
mobile technology will be pivotal to the
next stage of the retail market devel-
opment, fuelling its integration with
the global retail trade economy and
significantly increasing its ease of doing
business.
He called on banks to adopt more
collaborative financing mechanisms to
enable retailers develop their capac-
ities, expand operations and adopt
innovative production standards to
reduce operating cost and optimize
value.
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