United Bank for Africa (UBA), the parent company of UBA Uganda rose to 285th position in 2009 from 451st position in 2008 according to the Banker magazine. The rise in rankings marked out UBA as the second fastest growing financial brand globally and the fastest world-wide outside the US. UBA was awarded an “A†rating in the annual ranking of banks worldwide, with a brand value estimated at US$322 million. The survey benchmarked the strength, risk and potential of a brand, relative to its competitors, on a scale ranging from AAA to D, similar to a credit rating. Like in the previous years, HSBC and Bank of America dominated the table ranking 1st and 2nd. On the African continent Eco bank was ranked 282 while the South African banks topped the rankings.
Compared to the previous years, Standard Bank of South Africa ranked 105, a drop from the 85th position, First National Bank followed closely at 107th down from 72nd in 2009 position while ABSA ranked 109 down from 95 in 2009. The UBA was ranked with 500 other banking brands.Â
Nile Breweries Ltd buys Rwenzori mineral water
SABMiller, the mother company of Nile Breweries Ltd, has taken over mineral water bottler, Rwenzori Beverages Ltd, said Onapito Ekomoloit the Corporate affairs head at the Nile Breweries Ltd. The acquisition is in line with the company’s Africa strategy of building full beverage portfolios, said Nick Jenkinson, the Nile Breweries managing director. Rwenzori bottled water business now becomes a complimentary business to SABMiller’s beer business in Uganda. The acquired company boasts of close to 70% market share of the bottled water market in Uganda with a capacity of 1.2 million hectoliters annually. However, the acquisition does not affect the management of the company that will trade as Rwenzori Bottling Company Ltd. SABMiller recently announced that it had acquired bottled water operations in Ghana, Nigeria and Ethiopia to take advantage of the market for safe drinking water in Africa.
EABLÂ 2009 year-ender profits shrink
East African Breweries Limited half-year profits ending Dec31 2009 shrunk marginally to register an 8% drop from the same period in 2008. In spite of the drop in the profit, EABL’s net turnover grew by 3%. The firm blamed the drop on the global economic downturn, a weaker shilling and heavy taxation on spirits, a key driver of its growth in the previous years. Uganda and Southern Sudan recently banned the sale of spirits in sachets. In spite of the drop, the company was able to navigate the tough macro economic conditions witnessed in the first quarter of the year, to post profits, after implementing strategies like branding and marketing campaigns. Sales of its regional brands Tusker and Guinness grew by 18 % and 22 % respectively. The Uganda and Tanzanian markets continued to fair marginally due to an increasing competitive environment. A strong performance in Kenyan offset the soft Ugandan and the Great Lakes Region performance. EABL plans to undertake expansion into Uganda and South Sudan. The company is also expected to unveil a new Senator Keg packaging plant with a capacity of 80,000 bottles per hour in Kenya and commission another line in Uganda in October this year. The new lines will allow EABL grow its presence for products targeted at the low end market, where it currently has just above 50 % market share.
KCB in new innovation, tellers could lose jobs
Last week the Kenya Commercial Bank unveiled yet a new technology in its banking network. The bank introduced a new Automated Teller Machine (ATM) that has human intelligence features. The MCR touch screen ATM accepts currency notes of any denomination, and verifies the value of cash deposited and can reject any fake or old and unusable currency notes. KCB Chief Executive Martin-Oduor Otieno said the investment is aimed at providing efficient service delivery and reducing on the time gap taken in the banking processes. Oduor told the media in Nairobi last week that the bank will continue investing in technologies, which would help it reduce operation costs and also benefit its customers across the region where the bank is present. However insiders said the new machines could lead to job loses especially for the tellers as most people would prefer using the machine to bank their money at anytime they want.
Google launches Ugandan Maps
Last week, Google Maps unveiled new detailed maps of major Ugandan towns. The maps can be accessed on Google Maps through any web browser or via Google Maps for mobile on data enabled handsets. Users of the Google Maps service will now be able to search up to date online maps, look up businesses, advertise for free via Google Maps Local Business Centers, create their own maps and check locations while on the move. Google Maps are now accessible for 29 other African countries.  This follows earlier launches in Kenya and South Africa. Launching the Google maps Uganda, Joe Mucheru, Google’s Regional head, Sub-Saharan Africa, said, “This is a very exciting pan-African launch and we are delighted to be improving our maps functionality for Africa.
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written by Major Adam Kifaliso, March 03, 2010
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