UBA Ahead Of Peers in stimulating Economic Growth in Africa Through Consumer Lending

Posted by African Examiner African News, Business News, Featured, Latest Headlines Thursday, July 1st, 2021

(AFRICAN EXAMINER) – Pan African financial Institution, United Bank for Africa (UBA) Plc has emphasized its unwavering commitment to the support of businesses and financial inclusion in Africa through its array of consumer lending products.

There has been clear evidence that credit remains a major economic stimulant and growth driver; but this has been largely inaccessible to the informal sector which dominates the African economies and small businesses that constitute the primary growth engine.

Consequently, the bank has further deepened its consumer lending product offerings with an aim to delivering services that will empower the customers, thus stimulating economic growth on the continent.

UBA’s Head, Consumer Lending, Anant Rao, said that the bank focuses on this critical aspect in line with its customer 1st philosophy is to ensure that the customers and delighted at every touchpoint.

Speaking during a virtual media parley attended by a diverse group of journalists and publishers from all over Africa, on Wednesday, he said, “UBA takes consumer lending very important because of the active role in plays in economic development.

At UBA, we recognise that customers are important to economic growth, therefore our various offerings are positioned to support them in this regard. These loans have been developed by the bank in line with its purpose to meet the financial needs of customers and to be a part of their daily lives. “

“And this is why consumer lending is very essential to us, as it is the category of financing centered on individual and household consumers, which includes personal loans extended to people who use the funds for individual or family purposes as well as home and auto loans; and so, today in UBA, we make the following loan products available to our customers: UBA Personal Loan; Credit Card; Advance to Pensioners; Education Loan; Auto Loan; Asset Finance; Insurance Premium Financing; UBA Mortgage among others,” Rao continued.

He took time to speak on UBA’s Click Credit – a much loved and accepted facility that makes instant cash available to customers with salary accounts within minutes.

“Available to all salaried customers, the Click Credit product is an instant loan with no form of documentation, paperwork or queues and is available within seconds of request. In fact, anybody who owns a mobile phone can borrow from UBA,” Rao said, adding that the product can also be accessed via USSD, Leo, U-Mobile and Internet Banking.

While emphasising that UBA will use consumer credit as a means to an end to satisfy the full range of a family’s financial needs and aspirations across Africa, the consumer banking boss took time to talk about the innovations that drive the bank’s business including Mobile Banking, Internet Banking, USSD, LEO, Kastle among others.

United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty-one million customers, across over 1,000 business offices and customer touch points, in 20 African countries.

With presence in the United States of America, the United Kingdom and France, UBA is connecting people and businesses across Africa through retail; commercial and corporate banking; innovative cross-border payments and remittances; trade finance and ancillary banking services