GROWING THE SEED
| ABIOLA BAWUAH
20 •
The Lion King
• January - March 2016
•
We want to make UBA a pre-
ferred employer of choice, and
the best place to work in Ghana.
These strategic intents are expected
to guide our actions across all levels
of staff in the bank.
How has the current global economic
challenges impacted UBA Ghana’s
operations?
The adverse headwinds have affected
the entire Ghanaian banking industry,
and presented significant challenges
in the operating environment. Our
operations are influenced by these
economic realities, as they affect our
customers and their ability to sustain
business in this critical period. In this
vein, we have increased our risk man-
agement focus on directly affected
and challenged sectors, improved
efficiency across the organization to
mitigate against rising operational
costs, and most importantly; building
our digital banking platform to provide
seamless transaction execution and
consequently reducing the cost bur-
den of doing business with UBA Ghana
for our esteemed customers.
How well is the Ghanaian economy
responding to the challenges in the
global economy?
The Ghanaian economy is showing
resilience in light of dwindling eco-
nomic indices, commodity prices and
general deceleration in the global
economy. Several fiscal policies
designed to restructure the economy
have been implemented with vary-
ing degrees of success, and recently
the International Monetary Fund (IMF)
expressed its satisfaction with the rate
of progress of the policies approved in
line with the IMF support provided to
the Government of Ghana. In addi-
tion, we have seen a relatively sta-
ble exchange rate; however inflation
remains persistently high in spite of the
Government’s inflation targeting poli-
cies. We expect an easing of inflation-
ary pressures as we see improvements
in the different economic sectors.
As a way of reducing government
