TOP
Friday,December 04,2020 09:10 AM
  • Home
  • Archive
  • United Bank for Africa restructures

United Bank for Africa restructures

By Vision Reporter

Added 4th February 2010 03:00 AM

UNITED Bank for Africa (UBA) yesterday announced a major staff restructuring exercise that saw up to 30 employees sent home, while several others moved to new responsibilities.

UNITED Bank for Africa (UBA) yesterday announced a major staff restructuring exercise that saw up to 30 employees sent home, while several others moved to new responsibilities.

By Stephen Ilungole

UNITED Bank for Africa (UBA) yesterday announced a major staff restructuring exercise that saw up to 30 employees sent home, while several others moved to new responsibilities.

Margaret Mwanakatwe, the UBA Uganda chief executive officer, also announced new appointments to fill the newly-created positions.

In the changes communicated on Wednesday, Anthony Mariiro, who previously headed corporate banking, assumes the role of chief credit officer, while Clinton Mawanda, the former East African Breweries’ commercialisation and visibility manager, takes over as the head of corporate communications/branding and marketing.

Ricson Kiiza, formerly the head of risk and compliance, assumes the role of head of product sales.

Edward Ssenyonjo, the former assistant head of risk and compliance, becomes the head of the department.

Kiiza and Ssenyonjo appointments, however, await the central bank’s approval.

Mwanakatwe explained that the changes were part of the strategy to drive growth and “consolidate gains over the last two years.”

“It is a normal business practice at UBA, to re-appraise the business and determine which sets of skills are relevant for the next level of growth.

“I want to thank the members of staff who are leaving us for a job well done, but also call upon the remaining staff to continue with the big dream,” she said.

Mwanakatwe said in 2009, UBA Uganda had a phenomenal growth, notching 100% growth in deposits and customer base.

The lending portfolio also doubled, she noted.

“This has certainly created new demands on the business and the changes are to take care of the new role demands,” she argued.

Mwanakatwe disclosed that UBA Uganda had received a recapitalisation of $4m (about sh8b) from the group to boost the bank’s operations.

“We are now energised and look to 2010 with even more optimism.

“We look to invest in more technology so as to drive more efficiency and deliver beyond the expectations of our customers,” she explained.

United Bank for Africa restructures

Related articles

More From The Author

More From The Author