The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | THE INDEPENDENT | United Bank for Africa Uganda Limited (UBA Uganda) has refuted recent media reports suggesting a management crisis within the organization, affirming that the current Managing Director, Chioma A. Mang, has been assigned broader responsibilities within the UBA Group, effective October 1, 2024.
The bank emphasized its adherence to corporate governance practices and confirmed that an announcement regarding the appointment of a new Managing Director will be made in due course.
“We appreciate Chioma A. Mang’s contributions to UBA Uganda during her tenure, which have been exemplified by significant growth, and we wish her continued success in her new role,” stated Haziana Niyonsaba, Head of Marketing and Corporate Communications at UBA Uganda.
Contrary to the claims circulating in some media outlets, which alleged that Mang was recalled to the bank’s headquarters in Nigeria due to difficulties related to the working environment, UBA Uganda maintains that the transition is part of its ongoing strategic development.
As a subsidiary of the United Bank for Africa, headquartered in Lagos, Nigeria, UBA Uganda operates in twenty African countries, as well as the United Kingdom, France, and the United States. The stock of UBA Transnational is traded on the Nigeria Stock Exchange under the symbol UBA.
Founded in May 2008, UBA Uganda began its operations with the opening of its main branch on the Kampala-Jinja Highway and has since expanded to key upcountry towns including Masaka, Jinja, Mbale, and Mbarara.
As of December 31, 2023, UBA Uganda reported total assets of USh623 billion, with shareholders’ equity of USh142.5 billion. The bank primarily serves small and medium enterprises (SMEs), large corporations, and individual customers, reinforcing its commitment to driving economic growth in Uganda.
