The Lion King | 15
On the Chadian Economy
The Chadian government, he reveals,
is driving economic growth by focusing
on the provision infrastructure includ-
ing massive road networks, electricity,
a rail-road link between Chad and
Cameroun; Chad and Sudan as well as
Chad and Libya while investing heavily
in education and healthcare, which is
creating a promising economic outlook
for the country.
The economic outlook of Chad has also
been boosted by expected increase
in crude oil production level which is
projected to reach 350,000bpd in 2016
from the current 125,000bpd as a result
of the concessionaires whose explo-
ration activities have begun to add
production levels progressively, Salami
said.
Meanwhile, government expend-
iture is supported by increasing
revenues from Agriculture (Cotton,
Sesame, Gum Arabic and live-
stock), which is the main stay of
the Chadian economy.
Salami says UBA Chad has been
positioned to take advantage of
the opportunities in the growing
sectors of the Chadian economy.
“UBA Chad supports the emerg-
ing opportunities in oil and gas,
telecoms, agriculture, con-
struction and trade sectors
which are basically the
drivers of the economy.”
“We have thrown the
significant balance
sheet of the UBA
Group behind
the investments
in key infra-
structure and the businesses needed to
expand the Chadian economy beyond
its oil and gas sectors. We are also sup-
porting the payment systems with our
cutting edge e-payment services.”
With a BSc in Economics and an MBA in
Marketing, Salami comes to the job with
21years banking experience spanning
Credit and Marketing, Relationship
Management and Strategic Manage-
ment.
Married with three children, Salami
says there are many challenges UBA
Chad encounters in doing business in
Chad. “Some of the challenges include
the ease of doing business, in terms of
engagement and speed of obtaining
government approvals. There is also the
issues of high, multiple and difficult tax
regime.
“The engagement of tax consultants
has been a useful solution, but comes
with attendant cost,” he said.
Salami, who has been the MD/CEO of
UBA Chad since 2010, says the experi-
ence has been exciting and opened
his eyes to the huge opportunities in
Nigeria’s next door labour.
“Being a Nigerian, it is easy to ask “what
is in Chad?” But being here has opened
my eyes to a whole new world and
immense opportunities in this country.
I am happy that UBA gave me this
platform to be part of a fast emerging
economy and play a key part in Chad’s
renaissance.”
Aliyu Salami
MD/CEO, UBA Chad, speaks on
how UBA is positively supporting the
Chadian economy
The Chadian economy holds a
huge prospect for investment.”
A
liyu Salami, Managing Director/
CEO, UBA Chad, is seated in
his large office on a rather hot
Wednesday morning, ready for the
day’s business. The task before him
daily has been both remarkable and
challenging; transforming UBA Chad
into a leading industry player in Chad, a
country where banking is still very much
in its formative years.
“The Chadian Banking Industry,” he
says, “is still at infancy with a huge
opportunity for growth. Currently, the
country can only boast of eight li-
censed banks with 47 branches, all hav-
ing less than 300,000 customers as at
June, 2014 Bankers Committee report.
There are three multinational banks
including UBA, two regional banks and
three local banks.”
Despite being a late entrant in the
Chadian banking industry, Salami says
UBA Chad is competing favourably in
the industry. “UBA was the last market
entrant in 2009 but currently we occupy
the 6th position in terms of market
share,” he explains.
“Our ambition is to leapfrog compe-
tition and to be among the top three
banks within the next two years. This
will mean sustaining and increasing the
profitability of the business, increasing
our branch network from five currently
and enhancing our e-banking product
offering edge over our competitors.”
Opportunities for expansion of the
banking sector, he says, has been
enhanced by the fast paced growth
of the Chadian economy with several
sectors showing promise, which will
boost banking growth in the long run as
investors take advantage of the emerg-
ing opportunities.
Growing the Seed
