United Capital Plc unveils Ucee MFB

The United Capital Plc, one of Africa’s leading investment bank and financial services group, has launched a new subsidiary – Ucee Microfinance bank. The Chairman of Heirs Holdings, Tony Elumelu, performed the ceremonial tape cutting at the official launch of the Ucee MFB in Lagos on Monday. Elumelu was flanked by the Chairman of Ucee […]

The United Capital Plc, one of Africa’s leading investment bank and financial services group, has launched a new subsidiary – Ucee Microfinance bank.

The Chairman of Heirs Holdings, Tony Elumelu, performed the ceremonial tape cutting at the official launch of the Ucee MFB in Lagos on Monday.

Elumelu was flanked by the Chairman of Ucee MFB, Stephen Nwadiuko; Group CEO of United Capital PLC, Peter Ashade and the Managing Director/CEO of Ucee MFB, Esther Adeola-Balogun.

The foremost entrepreneur, in his remarks, said the MFB was birthed in fulfillment of the group’s long-time dream.

• PHOTOS: Presidency finally unveils new Presidential jet, keeps mum on cost
• Adamawa begins payment of N70,000 minimum wage in August

Elumelu said, “What we’re doing today is just one per cent of making sure that we help to improve lives, create prosperity and help the society in living a more comfortable life.”

He expressed optimism that MFB would surpass collective expectations of the group, customers and the Nigerian public.

The top investment banker also expressed confidence in the ability of the MD/CEO to take Ucee MFB “beyond the shores of Nigeria.”

On his part, Mr Ashade said the Ucee MFB aimed to drive financial inclusion and increase access to capital financial services in line with the objectives of the Central Bank of Nigeria (CBN).

He said, “Our mission is simple, helping our esteemed clients to reach their financial goals and democratising access to financial services and infrastructure.”

Responding to questions from newsmen, Adeola-Balogun explained that Ucee MFB was a digitally-focused bank with the aim of bridging the gap between digital and traditional microfinance banking operations.

She added that beyond making profit, Ucee MFB was poised to make an impact in the lives of Nigerians.

She further said, “Our medium of reaching the public is by our mobile app. Our mobile app is our one stop shop for all our products and services.

“What we want to do differently is that we want to serve people both at the bottom of the pyramid and people that are up there, tech-savvy. So, our services and our products are not tailored towards the traditional microfinance bank and it is not totally tailored towards the digital microfinance bank. We are bridging the gap between the traditional and the digital.”