United Bank for Africa (UBA) Plc has introduced a new product to deepen the intra-African trade across 20 African countries at any of its branches.
The Pan African financial institution announced the official launch of a flagship product UBA Connect, a service that enables the customers of the bank to conduct traditional banking transactions at any UBA branch in the 20 African countries where the bank operates.
The service, which is available to both customers and non-customers alike, is expected to encourage intra-Africa trade, as cash withdrawal can now be done in local currencies within the continent while deposits can also be made at any location regardless of where the account is domiciled.
The Chief Executive Officer, UBA Africa, Oliver Alawuba, who spoke about the product, said, “Africa stands to benefit substantially from intra-Africa trade, which is facilitated by the easy flow of capital within the continent. As a bank committed to creating superior value for all its stakeholders, we are focused on ensuring that we continue to contribute significantly to the development of Africa by improving accessibility and trade with UBA Connect, among other innovative services.”
He explained that the new offering allows easy transfers to UBA accounts across African countries as well as a cash deposit into UBA accounts at any of the bank’s locations in Africa, adding that the cash will be dispensed to customers in local currencies at competitive exchange rates.
Group Head, Marketing, Dupe Olusola, said, “We’re thrilled to be able to offer our customers the ease and convenience of UBA Connect. This is in addition to an array of digital platforms that have made banking seamless for more than 12 million people who have trusted us with their money.”
To use the service at any UBA business location in Africa, a UBA Connect Send, Receive or Transfer form needs to be completed, with valid identification (International passport with valid visa or migration stamp, in the case of ECOWAS member countries).