Chad Business News

United Bank for Africa (UBA) Appoints Phillips Oduoza as MD/CEO Designate

Phillips Oduoza, MD/CEO Designate, United Bank for Africa (UBA)

Phillips Oduoza, MD/CEO Designate, United Bank for Africa (UBA)

The Board of United Bank for Africa Plc has announced the appointment of Mr. Phillips Oduoza as Group Chief Executive Designate of UBA.

Phillips Oduoza has over 22 years experience in Banking and Financial Services spanning Banking Operations, Relationship Management, Credit/Marketing, Technology Implementation, Risk Management, Lean Banking Methods, and Brand Management.

Prior to this appointment, Phillips Oduoza was the Bank’s Deputy Managing Director overseeing its operations in the South, which is the UBA Group’s largest strategic business group.

He will commence as the Group Chief Executive of the Bank on August 1, 2010. In the interim, Mr Oduoza will work in tandem with Mr. Tony Elumelu, current Group Chief Executive of UBA to ensure that the transition is seamless. Read the rest of this entry »

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United Bank for Africa (UBA) Opens in Zambia – First Southern African Market Entry

United Bank for AfricaUnited Bank for Africa Plc (UBA), the pan African banking group, has announced the opening of its Zambian operations – the first Southern African business unit for the group. The establishment of a full banking presence in Zambia further emphasizes the group’s vision of bringing world class banking services to all regions of sub-Saharan Africa and follows its successful openings in Kenya, Uganda and Tanzania.

UBA has over the past year rapidly expanded its network, positioning itself as the bank of choice for wholesale and retail clients in Africa and for Africa-related businesses, demonstrating in action its positioning as “Africa’s Global Bank”. This physical expansion has been matched by the launch of a series of products designed specifically to address the key needs of African clients, whether individuals, companies, or governments, in facilitating money transfer and cash management, trade finance, and access to credit. Read the rest of this entry »

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Brymedia West Africa Bids to Build Overland Fiber Cable (OFC) from Nigeria to Tunisia; Telecom Italia Indicates Interest in Landing Cable on Mainland Europe

Fiber Optic CableBrymedia West Africa, one of the firms bidding to take-over Nigeria’s NITEL and MTel is planning to build an overland fiber cable (OFC) from the Nigerian state of Katsina through to Tunisia.

The source said the overland fiber cable would pass through two countries instead of 13 countries. This will be achieved with the aid of tails to be laid into land-locked countries, such as Chad, Niger, Burkina Faso, and Mali.

Sources close to the project said that Telecom Italia, one of the biggest operators in Europe, has already indicated interest to land the overland fiber cable into mainland Europe.

The sources further disclosed that the proposed cable would outperform existing cables, like the SAT-3, and the upcoming Glo-1. The overland fiber cable is estimated to be half as expensive as SAT-3 or Glo-1, allowing savings to be passed on to customers via lower tariffs. Read the rest of this entry »

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Africa – A Booming Business Opportunity for US Investors, Says US Corporate Council on Africa (CCA)

US Investing in AfricaIn one of the toughest global economic downturns in decades, the African continent continues to be one of the leading foreign direct investment destinations for U.S. businesses, according to the Corporate Council on Africa (CCA).

In fact, recent data released by the International Monetary Fund (IMF), reveals that while other regions of the world are experiencing economic decline, Africa has experienced significant economic growth over the past five years and is expected to maintain a positive growth rate of 3.5% for 2009. Read the rest of this entry »

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