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COUNTRY FOCUS
BY WEZI NJOVU
ZAMU BIA
BA Zambia began preliminary setup
on the 26th of April 2009. Interviews The bank has contributed immensely to were conducted and a 5-month the economic development of Zambia.
56 | The Lion King | Commemorative Edition | January - April 2019
vigorous training ensued to fully prepare the new employees for the challenging task ahead.
UBA Zambia officially opened its doors to the public on the morning of 9th Febru- ary 2010. Since then, the bank has risen against the grain and is strategically posi- tioned to provide the necessary financial intermediation critical to the develop- ment of key sectors in Zambia. The bank has also continued to raise the bar as far as Digital innovation in the banking sector is concerned. Other than these, the bank has demonstrated remarkable interested in giving back to Zambian communities and under the UBA Foundation has par- ticipated in various capacities.
In the 2010/2011 farming season, UBA Zambia provided US$5M (equivalent
of K24 billion at the time) to the Food Reserve Agency (FRA) for purchase of maize from farmers across the country through a Standard Chartered Bank -led syndication.
In 2011, UBA Zambia provided US$65m funding to the Government of Zambia
to enable the Public Service Pension Fund (PSPF) to clear outstanding pension arrears for retired civil servants. Between 2013 and 2015 UBA provided US$30m Letter of Credit to enable ZESCO, the state-owned generator and distributor of electricity, to connect Nyimba District in Eastern Province to the National Electric-