United Bank for Africa is set to open a new branch in Mali on February 4, Reuters reported on Thursday.
The spokeswoman for UBA’s subsidiary in Mali, Maimouna Oumarany, said by telephone, “Mali is a large market with a low (bank) account penetration rate. We are hoping to do better than the 13 banks already established in the country.”
Oumarany said UBA’s strategy in Mali, a landlocked country on the edge of the Sahara, was focused on digital products that clients could access from their smartphones.
It stated, “UBA, one of Nigeria’s largest banks with more than 700 branches, has subsidiaries across Africa in countries such as Ghana and Ivory Coast in the west, Kenya and Uganda in the east and Mozambique and Zambia in the south. It also has offices in London, Paris and New York.”