United Capital Unveil Ucee Microfinance Bank, Elumelu Laud Group's Initiative
- The chairman of the United Bank for Africa (UBA), Tony Elumelu, has applauded the unveiling of Ucee Microfinace Bank
- Elumelu disclosed at the that the new bank would exceed the expectations of Nigerians
- The serial entrepreneur said that the digital-centric bank will improve the lives of Nigerians and create prosperity
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
United Capital Group, a leading Pan-African investment management and financial services group, proudly announced the official launch of its newest subsidiary, UCEE Microfinance Bank, at an exclusive grand opening ceremony held yesterday at the UCEE Microfinance Bank House in Marina, Lagos.
The event was graced by the special guest of honour, philanthropist, and Chairman of Heirs Holdings Group, Tony O. Elumelu, CFR, alongside other industry leaders and dignitaries.
UCEE Microfinance Bank, located in the vibrant heart of Lagos Island, is a digital-first microfinance institution fully licensed by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC). The bank is set to redefine financial inclusion by offering a blend of innovative technology and tailored financial solutions designed to meet the diverse needs of its customers.
UCEE is committed to the authentic practice of microfinance banking, aiming to serve the mass market through a combination of advanced technology and services that mirror a profound understanding of its customers' needs.
Peter Ashade, Group CEO, United Capital Group, explained the strategic vision behind this new venture. "
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We identified a significant opportunity to replicate our successful investment management model into consumer lending. UCEE Microfinance Bank, now the seventh subsidiary in our group, is dedicated to offering essential financial products that empower individuals and businesses to reach their full potential. This initiative underscores our unwavering commitment to extending financial services to underserved segments and bolstering the economic development of SMEs."
In his keynote address, Tony O. Elumelu, CFR, lauded United Capital Group for its forward-thinking initiatives and impressive track record. He praised the company’s role in advancing Africapitalism by promoting prosperity and economic transformation in Africa and expressed strong support for UCEE’s mission to serve Micro, Small, and Medium-sized Enterprises (MSMEs), reflecting his own passion for supporting growing businesses.
A highlight of the launch was the unveiling of the UCEE app, a state-of-the-art platform designed to streamline access to the bank's offerings. The app integrates savings options, personal and business loans, bill payments, and lifestyle management services into a single, user-friendly interface.
Esther Adeola-Balogun was introduced as the inaugural Managing Director/CEO of UCEE Microfinance Bank, bringing 17 years of experience in the financial services sector. At the press conference, she emphasized UCEE's unique position in the market.
"UCEE is a proud microfinance bank with a robust digital orientation. Our commitment is to the genuine practice of microfinance banking, reaching the mass market through meticulously tailored financial solutions, leveraging technology.
She also highlighted the significance of the newly launched UCEE app: “Our app is designed to be a comprehensive platform that integrates all our offerings into one seamless experience. From managing savings and loans to handling bill payments and lifestyle needs, the UCEE app represents our commitment to delivering convenience and efficiency to our customers. We have adopted a multi-channel approach to ensure its services are accessible on any digital platform, at any time, and to anyone.”
The launch event attracted numerous industry leaders and dignitaries, including representatives from the Central Bank of Nigeria (CBN) and the National Association of Microfinance Banks (NAMB), affirming their support of UCEE Microfinance Bank's strategic initiatives for financial inclusion which align with broader national objectives.
The opening of UCEE Microfinance Bank marks a new chapter in financial empowerment and inclusion. Attendees were invited to explore the bank’s cutting-edge facilities and anticipate upcoming innovations that promise to address the evolving needs of its clientele.
Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng
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Source: Legit.ng
