The United Bank for Africa (UBA) successfully remitted approximately $300 Million backlog remittances for all International Air Transport Association Currency Clearance Services airlines in 2017.
This was disclosed in a speech read by Mr Kenneth Ugwuanyi on behalf of the Regional Chief Executive Officer of the bank, Mrs. Abiola Bawuah at the IATA Conference and dinner dubbed “Aviation: Business for Regional Prosperity”, held at Marriot hotel in Accra.
With a large branch network of close to 700 across Africa for in-branch ticket sales collection, UBA is sought to partner IATA in providing Cash Management solutions and Trade services for their operations in Ghana and Nigeria and other African countries.
Speaking at the conference, Mr. Ugwuanyi said: "UBA has the ability to deploy Point of Sale terminals to accept and settle foreign credit and debit cards. As the IATA Billing and Settlement bank in Nigeria for 11 years, our proven expertise in the Aviation Industry has remained strong."
"UBA has the capacity to Deploy a robust system with single sign-on for cash management and transaction viewing anywhere in the world," he added.
According to him, the airlines UBA has "partnered and consulted for and their related value chain have almost instantly become leaders in their industry".
The success story, he said, is largely due to the UBA's understanding of the market and how swiftly it adapt to create and provide solutions for their customers.
Meanwhile, Mr. Ugwuanyi has commended the aviation sector in Ghana for providing world-class aviation infrastructure and also in Aviation Safety.
"The completion of the Kotoka International Airport terminal and major policy changes in the local airlines' tax regimes has led to amazing improvements in total passenger footprint and overall improvements passenger and experience and tourism," he said.
The conference brought together policy-makers, aviation experts and chief executive officers of airlines in Sub-Saharan Africa and across the world, to deliberate and find strategic solutions to the aviation challenges and ensure the growth and development of the sector.
Some participants were awarded gifts such as UBA souvenirs and flight tickets.