TheCable

The United Bank for Africa (UBA) says it is committed to being role models for African businesses.

Victor Osadolor, chief executive officer, UBA Africa, said this during the flag off ceremony of the 2019 Lagos International Trade Fair (LITF), which has the bank as sponsor.

The event, which held at the Tafawa Balewa Square, had in attendance, Obafemi Hamzat, deputy governor of Lagos state; Babatunde Paul Ruwase, President, Lagos Chamber of Commerce and Industry (LCCI); Mariam Katagum, minister of state for industry, trade and investment and Lola Akande, commissioner for commerce, industry and cooperatives, Lagos state.

Osadolor used the occasion to launch self-printing debit card machine, “targetted at encouraging increased use of debit cards which also offers more options to pay”.

The new self-printing debit card machine allows seamless business transactions with great value to customers and businesses.

He said the world is tilting into a knowledge-based economy, adding that businesses that would survive in the 21st century must invest in technology to remain competitive.

He also commended the federal government’s efforts at improving the nation’s investment climate, saying this is the reason the country is currently ranked 15 place upwards in the global ease of doing business index.

Osadolor added that the bank would continue to support initiatives aimed at boosting trade in the country.

Obafemi Hamzat, deputy governor of Lagos state; Victor Osadolor, chief executive officer, UBA Africa; Mariam Katagum, minister of state for industry, trade and investment, Babatunde Paul Ruwase, president, Lagos Chamber of Commerce & Industry during the opening ceremony of the 2019 Lagos International Trade Fair which UBA is headline partner

“We are consistently supporting our SMEs. We have a huge amount of funds allocated to SMEs. UBA is committed to supporting entrepreneurship. We are the major promoter of the Fair. The new self-printing debit card machine will go along way in allowing for seamless business transactions with attendant value to businesses.

“At UBA, we are committed to being role models for African businesses by creating superior value for all the stakeholders. Therefore we have over the years recorded increased growth.”

Hamzat pledged the state’s commitment to promoting and connecting businesses across transnational borders.

“We shall leave no stone unturned to ensure that Lagos State truly becomes a 21st century economy which actively supports the growth of the local economy through improved ease of doing business initiatives, innovative incentives and interventions as well as quality service delivery to a well-motivated public,” he said.

On his part, Ruwase said the importance of a robust business interaction generates wealth and creates value for the advancement of the Nigerian economy and the welfare of citizens.

“Creating a platform to promote trade and bilateral relations is of utmost importance to the LCCI,” Ruwase said.

“In UBA, we have chosen a suitable partner with extensive reach on the continent with capacity to engineer a seamless financial transaction required for an international trade fair of this magnitude.”