United Bank for Africa just appointed a new Managing Director at the close of board meeting held yesterday, March 1, 2016, a statement published on the Nigeria Stock Exchange revealed. Truly, starting from August 1, 2016, Kennedy Uzoka is to succeed Phillips Oduoza who led the group for two years.

“Kennedy brings an extremely strong skill set and is ideally positioned to lead UBA in its next phase of growth. His most recent experience of managing the Group’s increasingly important African business, is particularly relevant, as we all work to build one of the leading financial services franchises in Africa”, said Tony Elumelu, the group’s president, in a letter addressed to his collaborators and which Ecofin Agency got a copy of.

Alongside the appointment of its new Managing Director, UBA Group’s board also appointed as Deputy Managing Director, Victor Osadolor. A fully accomplished accountant. He has proven himself as Executive Director, Risk and Finance at UBA and before that he held the position of Chief Officer at Ecobank Transnational Incorporated.

Tony Elumelu welcomed Mr. Oduoza’s contribution who led the bank through a particularly “challenging period”. Unlike other banks, UBA could resist more to the impact that the sector is experiencing as a result of fall in price of oil, Nigeria’s main source of revenues. With a 13% exposure to upstream oil assets, the newly appointed leaders will have to demonstrate their ability to push the group forward despite the actual environment.  

Idriss Linge