Sofala, 30 November 2023, the United Bank For Africa Mozambique – UBA, inaugurated its new Bank Branch in the District of Muanza. The inauguration was led by the Secretary of State for Sofala Province, Her Excellency Cecília Sandra Jerónimo Francisco Chamutota. Cecília Sandra Jerónimo Francisco Chamutota, and was attended by Mrs Dortea Hércules Ambrósio, Muanza District Administrator, Filipe Mandlate Chairman of the Board of Directors of United Bank For Africa Mozambique, Rotimi Mohunfola Managing Director of United Bank For Africa Mozambique, Evandro Faustino Head of Service of the Mozambique – Beira Bank Branch and various senior staff from United Bank For Africa Mozambique, local authorities and community representatives.
The Chairman of the Board of Directors, Felipe Mandlate, took the floor to greet and thank the Secretary of State in Sofala Province for attending the inauguration ceremony and said that this act shows commitment to the development of the province.
“My greetings and thanks go particularly to Her Excellency the Secretary of State for Sofala Province for agreeing to waste some of her precious time and take part in this simple event, despite her busy schedule. Your Excellency Madam Secretary of State, your presence at this event shows your commitment to the development of Sofala Province, in your interest in seeing this District of Muanza make a valuable contribution to the economy of the Province and to the development of the country.”
According to the PCA of UBA Mozambique, the Bank’s experience and growth in the country, region, continent and major international markets makes United Bank For Africa Mozambique an ideal partner for all clients offering solutions.
“United Bank For Africa Mozambique is an African financial institution focussed on the socio-economic development of Africa. It has over 70 years’ experience in the market and currently operates in 20 African countries with offices in the USA, France, the United Kingdom and the United Arab Emirates. It has been operating in Mozambique for around 10 years. Our commitment in the Mozambican market is to contribute to the materialisation of the government’s policy of financial inclusion, by expanding access to financial products, with flexibility, innovation and efficiency, always seeking the most convenient financial solutions for customers.”
During his speech, the Chairman of the Board of Directors emphasised the Bank’s willingness to support community development
“On the occasion of the opening of this UBA Bank branch in the district of Muanza, we would like to reiterate our willingness and firmness to support individuals, companies and organisations in developing their business in the local and national market.
As a Pan-African bank, we want to bring to Muanza the experience developed by the UBA Group in the various African countries where it operates and facilitate the transactions of the main local economic agents with the countries of the region and the world. The branch we are inaugurating today is the second in Sofala Province, after the city of Beira, both established this year. We hope to extend our services to more districts and provinces in the country in response to customer needs and development challenges,” said Filipe Mandlate.
Finally, he reaffirmed UBA’s commitment to providing the best solutions for economic growth and contributing to the development of this region.
“UBA is an African bank that is sensitive to the development needs of society. For us, Sofala is a province with an immeasurable wealth of resources and a society that includes vibrant economic agents. This province is made up of districts that offer many opportunities for development. Our responsibility as managers and employees of the United Bank for Africa Mozambique is to provide the best financial solutions and contribute to sustainable business growth, which is why we are here, in Muanza, in order to contribute to the development of this region; we have at your disposal a team of competent professionals, carefully selected and qualified to provide you with financial services best suited to your needs.”
Taking the floor, Her Excellency Cecilia Sandra Jerónimo Francisco Chamutota, Secretary of State for Sofala Province, thanked the United Bank For Africa for setting up its new branch.
“We congratulate UBA Bank for having chosen Sofala province and especially Muanza district to set up another bank branch, which will allow for the expansion and diversification of financial services in this district and, in this regard, we thank them for inviting us to inaugurate this branch.”
Continuing her speech, the head of the Council of State Representation Services said that:
“The Second (II) Priority of the Government’s Five-Year Programme 2020-2024 is: “Boosting Economic Growth, Productivity and Job Creation”, and this priority has as its First (I) Strategic Objective: “Promoting a balanced macroeconomic environment and management of Public Finances”, as it is considered that “maintaining a good macroeconomic environment is an indispensable condition for promoting a country’s growth and development, as it promotes economic stability”. This is where banks play a fundamental role, as they are institutions that collect savings from those who have surplus resources and make them available to those who need them, creating a healthy and balanced movement in the economy”.
In the same speech, Her Excellency the Secretary of State for the Province spoke about the growth in the establishment of bank branches in the province
“In general, Sofala province has seen growth in terms of implementing bank branches, from 54 branches in 2022 to 63 bank branches to date. This development has enabled all the districts in the province to have formal banking representation with around 1,270,000 (one million, two hundred and seventy) users of banking services. However, we would like to emphasise that more than 70% of the existing branches in the province are concentrated in the city of Beira, which is why we are delighted to have this branch here in the District of Muanza.”
“We are aware that the opening of this bank branch will contribute to development by enabling investment projects in small businesses, but also because it creates jobs, reducing unemployment. Therefore, as the State Representation in the province, we will continue to cherish and encourage initiatives of this nature in order to geographically balance the distribution of the banking network and we reaffirm our commitment to do everything we can to promote a culture of saving among our population. “said Cecília Chamutota.
The Secretary of State ended her speech by challenging the United Bank for Africa to innovate and promote financial inclusion
However, we would like to challenge the bank to:
Bet on innovation in financial products and services, taking into account the characteristics of the District;
Promote financial inclusion by embracing young and female entrepreneurs.
We end by reiterating our thanks to UBA for the invitation and for this initiative.”
United Bank for Africa is a leading pan-African financial institution in banking services with more than 33 million customers, served through various channels: more than 1,000 commercial offices and customer contact points with 2,669 ATMs, 87,223 points of sale and robust online banking services. Operating in 20 African countries with a presence in the United States of America, the United Kingdom, France and the United Arab Emirates, UBA contacts individuals and companies throughout Africa with financial solutions for commercial and corporate banking; innovative cross-border payments and remittances; trade finance and ancillary banking services.
