July - September 2017 •
The Lion King
• 23
Growing the Seed
banking subsidiary. The intention is to:
centralize the Group’s International
Treasury function, centralize the inter-
national correspondent banking func-
tion, raise 3rd party deposits from
sources new to the UBA Group and
follow and support our existing cus-
tomers and introduce new customers.
What kind of value does the Business
bring to the Group?
• Grow return on capital with an
ROC in excess of 30% over a 5 year
time horizon.
• An enhanced/extended service to
our customers
• Further diversification of the Group
customer base
• Grow and diversify the Group’s
funding base.
• Leveraging Group expertise of
African banking and specifically
trade finance
• Provide an extended/alterna-
tive route to North Africa, South
Africa and Middle Eastern business
opportunities and clients
What competitive advantage does
the bank have?
UBACE will be a strategically critical
part of the UBA Group’s international
strategy benefiting from the Group’s
substantial customer base, cover-
age in 19 African countries, market-
ing capability and ready access to
liquidity.
We believe that, due to the substan-
tial investment in systems and staff to
date and projected for the future, our
quality of service will give us a signifi-
cant competitive edge.
UBACE enjoys a significant advantage
with its technology platform. Having
implemented the Misys TI+ trade
finance system in July last year it is
currently upgrading its version of
Finacle Core and Treasury and will
be introducing a fully automated
Treasury front end solution off the
back of the upgrade of Finacle
Treasury.
What have you brought to UBA UK
that makes it differentiated?
My experience both of the autho-
rization process and running suc-
cessful trade finance banks in the
London market. This includes the
recruitment and development of
an excellent team within UBACE.
What are your plans for the next five
years, and where do you see the
challenges and opportunities?
Once we get the banking licence
we will be able to grow the business
and ensure the key strategic objec-
tives are delivered in the appropri-
ate timescale. Our various markets
within Africa present significant
opportunities for UBACE to create
a unique identity for itself in the
UK. As with all Emerging markets
the challenges remain politi-
cal – both locally and globally
exacerbated by the worrying
security backdrop that is play-
ing out in Africa and Europe.
