UBA Poised To Stimulate Africa’s Economic Growth in Via Consumer Lending
Pan African Financial Institution, United Bank for Africa Plc says it remains committed to supporting businesses and financial inclusion in Africa through its bouquet of consumer lending products.
Given the role of credit as a major stimulant and growth driver, which has unfortunately
been largely inaccessible to the informal sector which dominates the African economies and small businesses that constitute the primary growth engine, the bank said it has further deepened its consumer lending product offerings.
The aim, it said in a statement is to deliver services that will empower the customers, in line with its customer first philosophy thereby stimulating economic growth on the continent, ensuring that they are delighted at every touchpoint.
Speaking during a virtual media parley attended by a diverse group of journalists from a cross Africa, on Wednesday, Head of the bank’s, Consumer Lending, Anant Rao, said “UBA takes consumer lending very important because of the active role in plays in economic development.
According to him, “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.