BoG Showers Praises On UBA Ghana

The Governor of the Bank of Ghana (BoG), Dr. Henry Kofi Wampah, haspraised UBA Ghana for instituting a robust risk management system, which led to zero infractions on regulatory provisions on the part of the United Bank for Africa (UBA) Ghana. 

Dr. Wampah said this when he received the Group Managing Director, UBA Plc, Mr. Phillips Oduoza, in his office in Accra.

He commended the pivotal role played by UBA in deepening financial inclusion, and providing funds to critical sectors of the Ghanaian economy .

The Governor called on UBA to organise seminars and workshops on risk management for indigenous financial institutions in the country, to help build a strong risk management culture in Ghanaian financial institutions.

He also called on UBA to support the government's policy on import substitution, aimed at growing the economy, by increasing the volume of exports, through encouraging the production of locally made goods.

While thanking the Governor for the regulatory institution's recognition of the Bank's robust risk management policies, Phillips Oduoza said, 'UBA, being a global bank, and the only African bank operating in United States, is noted for its strict control system means that it has to institute a best in class risk management practices across its pan-African banking operations.'

Mr. Oduoza emphasised the commitment of UBA to the development of Africa, saying, 'As an African institution, we understand the dimensions and characteristics of the continent's financial landscape. It is our conviction that for the continent to grow, its indigenous financial institutions, like ours, with the necessary wherewithal, should champion it. This is what we are doing in 18 African countries where we operate.'

He informed the Governor that UBA's operation in Ghana remained its flagship on the continent, largely due to 'the social economic and political stability the country offers to investors. We are most encouraged by the stable economic policies offered by Bank of Ghana. Our bank has reaped immensely from the stability, and we hope other countries on the continent will take a cue from Ghana.'