UBA Zambia explores unbanked population
AN initiative aimed at promoting the culture of savings and assisting the public with information of managing their finances has been put up by the United Bank of Africa (UBA) Zambia.
Nine customers have since won K5, 000 each for participating in the initiative called the UBA Saving Promo.
UBA Zambia Chief Executive Officer, Chinedu Obeta, stressed the need to educate citizens on necessity on having decent spending habits for an economy to improve.
Mr Obeta therefore indicated that the importance of savings culture could not be over-emphasised.
He said this during the cheque presentation ceremony for the grand prize winners of the UBA Savings Promo in Lusaka in a speech read for him by the bank’s Country Head of Public Sector, Muzumani Lungu.
“Although great strides have been made to foster financial inclusion and promote a savings culture, statistics show that a lot of Zambian’s are still largely underbanked. With most of them simply lacking information on the importance of savings,” he said.
Mr Obeta stated that UBA had a responsibility to offer value and educate the public on the importance of savings.
UBA, he said, owed it to customers as a financial institution to not only offer banking services but advice clients and the general public on key financial matters such as savings. On the promotion,
Mr Obeta said there was no better time to give back and delight customers than in this challenging economics period that had been compounded by the Covid-19.
He said UBA stood ready to assist clients and the public at large to develop a culture of savings by churning out affordable and innovative product offering that put the needs of customers at the centre.
“As a bank, our customers are invaluable and we remain committed to recognising them through initiatives such as this. Our winners today are getting rewarded simply for saving their money with UBA.
“I am hopeful that the cheque presentation ceremony that we are having today will spur and encourage our clients to save regularly,” he said.