COVER
October - December 2017 •
The Lion King
• 17
reinforcing investor appetite for the
Note, which is listed on the Irish Stock
Exchange, it now trades at premium
to par at USD103, having rallied on the
back of sustained investor demand.
The steady market share gain and
improving customer service continue
to improve investor sentiment on the
shares of the Group, leading to a 129%
rally in the share price in 2017.
The Group continues to demonstrate
its commitment to the development
of the African continent through its
financing and community service
activities. In a bid to unlock industrial
potentials in Africa, the Group funded
a number of power and other critical
infrastructures in a number of its cho-
sen markets, including but not limited
to:
Congo DRC:
•
UBA Congo provided $25,983,716
power Sector finance to SOCIETE
NATIONALE D ELECTRICITE to finance
infrastructural development (roads
network, drainage system and
allowance to displaced villagers) in
the area where the Zongo 2 hydro-
electric plant is being constructed.
Additionally, for the importation of
thermal and hydro power gener-
ating electrical transformers and
equipment from Dongfang Electric
Corporation to enhance their elec-
tricity generating capacity.
•
UBA
Congo
also
provided
$21,405,000 to ARAB CONTRACTORS
to issue APGs in favour of European
Union in respect of the extension
construction contracts awarded to
the company.
Liberia:
•
UBA Liberia consummated the
Liberia Electricity Corporation/World
Bank Letter of credit of US$14m,
meant to enhance the Government
of Liberia expansion of Power proj-
ect in the Country.
•
UBA Liberia also signed a deal
with China Harbour Engineering
Corporation which entails the con-
structionof amodernAirport Terminal
in the value of US$50,000,000.
•
The Bank donated $250,000 USD as
emergency aid grants for victims of
the tragic mudslides in Liberia.
Sierra Leone:
•
UBA Sierra Leone facilitated a $25
million dollars swap in FX with the
Government of Sierra Leone.
•
The Bank also facilitated $2.5 mil-
lion dollars for Dangote Cement
Importation in Sierra Leone via Letter
of Credit.
Cameroun:
•
UBA
Cameroun
provided
$125,200,320.51 facility to Dangote
Cement for its expansion of opera-
tions into Cameroun and Senegal
as well as increase its production
capacity. Dangote is the number
one producer of cement in the cen-
tral Africa sub-region and a major
partner at a time when major con-
struction of infrastructure around
the country is ongoing ahead of
the 2019 AFCON to be hosted by
Cameroon.
•
UBA Cameroun also provided Gaz
du Cameroun a $12,500,000 facility
to finance 2017 capital expendi-
ture program including laying more
pipes, connection of customers, pro-
duction enhancements and expan-
sion of its gas plant geared towards
increasing the plant’s power gen-
eration capacity in Cameroun.
•
UBA
Cameroun
provided
Government
of
Cameroun
$24,205,395.30 facility to finance the
portion of 15% of the overall cost
of building the Olembe stadium in
Yaounde. The 60,000 capacity sta-
dium will be the best and most mod-
ern in the country and associating
with the government to construct
this goes a long way to show the
bank’s commitment to work with
the public sector in developing the
country. The complex will also have
basketball courts, volleyball and
tennis courts, an eight lane Olympic
swimming pool, conference cen-
ters, commercial centers, a four star
hotel.
AWARDS:
2
017 was a year of awards and
recognitions as UBA made waves
and positive impact in the local
and global financial industry.
African Bank of the year:
The bank proved its leadership on the
continent, as the Banker Magazine
crowned UBA the “African Bank of the
Year 2017”.
The Banker Magazine is a global finan-
cial intelligence magazine that pro-
vides global bank ratings/analysis. It
is the definitive reference in interna-
tional banking for high level deci-
sion makers globally. According to the
magazine which is published by the
Financial Times Newspaper, the aim of
the award is to “highlight industry wide
excellence within the global bank-
ing community.” The Banker selects
one winning bank for each of the 120
countries that are covered. Over 1,000
applications are entered and judges
select winning banks based on the
ones that have made most progress
over the past 12 months.
To further demonstrate the group’s
strength and dominance in the finan-
cial sector on the continent, four of
UBA Group’s operations in Africa also
led contenders in their respective
countries to emerge the Best Bank
of the Year 2017 in their respective
markets. UBA Congo, UBA Tchad, UBA
Gabon and UBA Senegal emerged
the Best Bank of the Year respec-
tively in Congo, Tchad, Gabon and
