From Awareness Times Newspaper in Freetown

Local News
In Sierra Leone, UBA Launches New Product
By Bampia Bundu
Nov 29, 2010, 12:20

United Bank Africa (UBA) has officially launched a new product dubbed AfriCash at an auspicious occasion held on Friday 26th November 2010 at the British Council Hall, Tower Hill in Freetown.

In attendance at the all-important launch include the Ghana High Commissioner, Mrs. Elizabeth Mills-Robertson and the Minister of Trade and Industry, David Carew, who formally launched the product.

AfriCash facilitates instant money transfer services, payments, remittances and trade across Africa.

UBA’s Head of Products/E-Banking, David Musa said the new product is part of the bank’s expansion initiative in Africa, noting that it was introduced in Nigeria and Ghana and can now be accessed in over seven hundred and fifty (750) UBA branches in sixteen (16) African countries.

“It is a secured payment service that allows money transfer across Africa,” he explained, adding that it allows for funds to be received in local and foreign currencies within a timeframe of five minutes. He described it as one of the most competitive transfer service in Africa.

Formally launching the product, Minister of Trade and Industry, David Carew, said the most important investment destination in the world is Africa.

The performance of the banking sector, he continued, is more important to the Trade Ministry than it is to the Finance Ministry.

The minister said the importance to trade among ourselves in Africa cannot be overemphasized, whilst noting that products of this nature can significantly reduce trade challenges and stabilize rate of exchange.

The government, he said, is encouraged by the development is this product, adding that they are looking forward to better results.

“Government will always support innovations and pioneer the advancement and repositioning of Africa in the new global economics,” he assured, adding: “Africa needs to be proud of its achievements and initiatives”.

“At this juncture, I want to acknowledge and formally launch the new UBA product, AfriCash,” the minister concluded.

High Commissioner of Ghana, Mrs. Elizabeth Mills-Robertson, said banking has now become an industry, whilst pointing out that bank managers no longer sit at their offices to wait for customers as it used to be some years back. She congratulated UBA for developing a product that will make a whole lot of difference in the business and banking world.

The launch was chaired by Ngozi Obi Sesay of the Brand and Corporate Communications Department, and testimonies from customers form part of the programme.

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