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COUNTRY FOCUS
36 | The Lion King | Commemorative Edition | January - April 2019
CU HAD
BY CLAUDINE NGANGMI
nited Bank for Africa Chad (UBA one as the most profitable bank in terms of Chad), a subsidiary of United Bank for PBT among the country’s 9 banks – a clear Africa Plc, obtained its accreditation demonstration of the firm resolve of the
as a financial services institution in Chad on September 2, 2008 and began oper- ations in September 2009 as part of UBA’s expansion strategy within the CEMAC zone (Economic and Monetary Communi- ty of Central Africa). Chad is UBA’s second subsidiary in Central Africa, after UBA Cameroon, and joined the list of banks in Chad as the 8th and youngest bank until 2017 when another bank joined the list.
UBA climbed to the 6th position among the 8 banks in Chad within the early years of its commencement of activities and by late 2018, the Bank was already number
management and staff of UBA Chad who have remained committed to achieving the vision of the Bank to be the most profit- able bank in Chad by the year 2020.
Today, UBA Chad operates with a capital of XAF10 000 000 000, about $20,000,000, compared to the initial capital of XAF2 145 000 000 ($4,290,000) it started operations with in 2009.
UBA Chad currently operates seven branches, including six in N’djamena and one in Moundou.
Chad, The Babel Tower of the World
Named after Africa’s second largest lake, and located in Central Africa, south of Libya, Chad is a landlocked country, bordered by Sudan, the Central African Republic, Cameroon, Nigeria, Niger, and Libya. It has a population of 15,833,116 (July 2018 est.) and an area of 495,752 square miles (1,284,000 square kilome- tres), most of it desert, semi-desert, or savannah. Chad is sometimes referred
to as the ‘Babel Tower of the world’
because of the number of languages spoken there.
Oil and agriculture are mainstays of Chad’s economy. Oil provides about 60% of export revenues, while cotton, cattle, livestock, and gum arabic and sesame provide the bulk of Chad’s non- oil export earnings.
Although high oil prices and strong local