UBA Ghana Taps Diplomatic Network for Cross-Border Business

 

Ghana’s diplomatic community could become an important channel for expanding cross-border trade, investment and financial flows as UBA Ghana seeks to leverage its pan-African network to connect businesses and institutions across markets.

The Bank used the Ministry of Foreign Affairs’ Annual Diplomatic Day Out at the Burma Camp Sports Complex in Accra to strengthen relationships with diplomatic missions and international stakeholders.

For UBA Ghana, the engagement goes beyond corporate networking. The Bank sees its relationships with diplomatic missions as part of a wider effort to support businesses, investors, institutions and members of the diaspora operating across borders.

The Managing Director and Chief Executive Officer of UBA Ghana, Bernard Gyebi, led the Bank’s delegation to the event, which brought together representatives of diplomatic missions in Ghana, their families, government officials and other stakeholders.

Banking across borders

Ghana’s growing commercial links with other African markets are creating demand for financial services that can support companies moving goods, making payments and investing across borders.

UBA Ghana says its presence across 20 African countries and international financial centres gives it a platform to facilitate these connections.

“At UBA, we recognise the important role that the diplomatic community plays in strengthening international cooperation, trade, investment and people-to-people connections,” Mr. Gyebi said.

“Our participation in the Diplomatic Day Out reflects our commitment to building enduring relationships and providing banking solutions that make it easier for our customers and partners to connect and transact across borders,” he added.

The Bank’s capabilities include cross-border payments, public sector and institutional banking, diaspora and remittance services and high-net-worth banking.

These services position the Bank to target financial flows involving companies trading between Ghana and other African markets, international organisations, government institutions and Ghanaians living abroad.

Turning relationships into business

The diplomatic community provides access to a network of governments, businesses, investors and international organisations, making engagement with missions potentially relevant to banks seeking to facilitate economic activity between Ghana and other countries.

For businesses, effective cross-border banking can be important in areas ranging from paying suppliers and receiving export proceeds to managing investments and moving funds between markets.

UBA’s pan-African footprint gives it an opportunity to support clients that operate in more than one African market without having to build separate banking relationships in every country.

The Bank’s participation in the Diplomatic Day Out therefore forms part of a broader stakeholder engagement strategy involving diplomatic missions, international organisations, government institutions and other strategic partners.

Diaspora and remittance opportunity

Diaspora banking is another area where the Bank sees potential for stronger international financial connections.

Remittances remain an important link between Ghanaians abroad and households and businesses at home. Banking services that make transfers more convenient can also create opportunities to deepen customers’ relationships with financial institutions.

UBA Ghana’s engagement with the diplomatic community provides an avenue to strengthen awareness of its diaspora and remittance services while building relationships with institutions connected to international communities in Ghana.

The Bank’s delegation included Henry Nii Dottey, Regional Head, Brand, Marketing & Corporate Communications; Dominic Amoako-Mensah, Head, Public Sector Group; Jemima Asafo-Adjaye, Head, EMDOs; Ekua Amakyi, Team Lead, HNI Banking; and Edith Praise, Head, Remittance & Diaspora Banking.

From diplomacy to economic connections

The wider opportunity for UBA Ghana lies in turning institutional relationships into stronger economic connections between Ghana and other markets.

As African businesses expand across borders, they require banking partners capable of supporting payments, investment, trade and other financial transactions in multiple jurisdictions.

UBA says its African network allows it to facilitate financial flows between countries on the continent and connect African businesses and individuals to international markets.

The Diplomatic Day Out provided a platform for the Bank to engage directly with members of the diplomatic community while presenting the breadth of its banking capabilities.