UBA Prepares To List On GSE

Abiola Bawuah

United Bank for Africa (UBA) has hinted that it will list part of its shares on the Ghana Stock Exchange (GSE) to offer an opportunity for Ghanaian investors to own part of the bank.

The move, according to the bank, is to strengthen its operations in Ghana.

This will mean that after operating for more than 10 years in Ghana, the bank’s shareholding structure will change from its current position, if all plans go well before the end of the year.

Chief Executive of UBA West Africa and immediate-past Managing Director (MD) for UBA Ghana, Abiola Bawuah, said the plan is top on the bank’s agenda for this year.

“We have just finished with our council meeting, and I must say, the first and topmost on the agenda was the listing plans. We want to be on the Ghanaian bourse,” she said in an interview.

UBA is one of the biggest Nigerian banks operating in Ghana with a strong financial position of more than GH¢100 million as at the end of last year.

Touching on the deadline for meeting the new minimum capital requirement for the banks, Mrs Bawuah said UBA has been ready since the announcement by the Bank of Ghana (BoG) and supports the idea.

She believes the move will help commercial banks to take up bigger projects and also lend to the private sector.

“We, at UBA, have said the decision by the Bank of Ghana is a welcome one and have always prepared to meet any rate they settle on. The bank has a strong liquidity position and therefore no cause for alarm in meeting the GH¢400 million capital requirement,” she added.