- UBA can now lend money on behalf of government
- Appointment takes effect 1st October 2021
- Public encouraged to invest in treasury bills and bonds
United Bank for Africa Uganda (UBA) has been appointed a Primary Dealer Bank by Bank of Uganda.
The appointment means that effective 1st October 2021 , UBA will lend Government money on behalf of the public and in exchange, provide Treasury Bills and Bonds as collateral, in the primary market auction.
The bank will also facilitate the buying and selling of Treasury Bills and Bonds to investors, who do not have access to the primary Market.
UBA Uganda Managing Director Chioma A. Mang says this appointment demonstrates the confidence the Central Bank has in UBA.
He is now encouraging the public to take up this opportunity being offered through UBA, to invest in treasury bills and bonds and grow their money.
This is an exciting development for UBA Uganda. We will be able to offer clients competitive rates for Government Securities and also contribute to the development of the Money Markets in Uganda” said UBA managing director.
UBA is the 8th bank to be appointed as a Primary Dealer bank in Uganda and will facilitate the buying and selling of treasury bills and bonds at all its 16 branches country wide.
United Bank for Africa (UBA) is one of Africa’s leading financial institutions, with operations in 20 countries and 3 global financial centres: London, Paris and New York. UBA provides banking services to more than 15 million customers globally, through diverse channels.
With 16 branches, 26 ATMs and 190 agents across the country, the bank continues to expand the retail and commercial playing field in Uganda by delivering unique financial products and solutions.