Archive August 31, 2020

UBA Foundation, the corporate social responsibility arm of the United Bank for Africa (UBA) Plc, on Sunday, August 30, 2020, commenced the 2020 edition of its annual National Essay Competition in Nigeria with a call for entries.

Now in its tenth year, the National Essay Competition (NEC) is part of UBA Foundation’s education initiative which is aimed at promoting the reading culture and encouraging healthy and intellectual competition amongst secondary school students in Nigeria and across Africa.

Pan-African investment company, Heirs Holdings this week announced the appointment of Dan Okeke as Group Executive Director.  The appointment took effect from August 01, 2020.

Mr Okeke joins following a distinguished three-decade career at the United Bank for Africa Plc (UBA), where he most recently served as an Executive Director, responsible for leading consumer, commercial and public-sector businesses.  At HH, he will be responsible for business coordination and growth across Heirs Holdings’ portfolio of pan-African investments in the power, financial services, oil and gas, hospitality, real estate, healthcare, and financial technology sectors.

The United Bank for Africa Plc (UBA), the leading pan-African financial services group, has acted as an Initial Mandated Lead Arranger with a consortium of Nigerian commercial and international banks in a $1.5 Billion Pre-Export Finance Facility for the Nigerian National Petroleum Corporation (NNPC) and its upstream subsidiary, the Nigerian Petroleum Development Company (NPDC).

UBA is providing $200 million (Naira equivalent) to support investment growth and liquidity requirements.  The facility will provide much needed capital for investment in NNPC’s production capacity, which is of strategic importance to the Nigerian economy and the country’s leading source of foreign exchange earnings.  UBA’s position as Lead Arranger recognises the Group’s strength in structuring and deploying financing to the oil and gas sector, and the depth and liquidity of the Group’s balance sheet.