UBA Ghana Ltd: The Pan-African Powerhouse Delivering 148% Profit Growth and Redefining Financial Inclusion

With a staggering 148% surge in profit before tax to GHS 629.93 million, a capital adequacy ratio of 20.46%, and a groundbreaking MoMo-to-Visa prepaid card innovation, Nigeria’s “Elephant” is trampling expectations in Ghana—and a new leadership team is just getting started.

Executive Introduction

In the competitive cauldron of Ghanaian banking, where indigenous giants and pan-African behemoths jostle for market share, United Bank for Africa (UBA) Ghana Ltd has carved out a distinctive and increasingly dominant position. It is not the largest bank by assets—GCB and Ecobank hold those crowns. It is not the most decorated in corporate banking—Stanbic claims that title. But UBA Ghana may be the most momentum-driven institution in the country today.

The 2025 full-year results are nothing short of spectacular. Profit before tax surged 148% to GHS 629.93 million, up from GHS 253.58 million in 2024, while profit after tax nearly tripled to GHS 407.10 million . Gross earnings climbed to GHS 1.46 billion, driven by an 8.6% increase in interest income to GHS 1.13 billion and a remarkable 38% jump in fees and commissions, reflecting deepening customer engagement and enhanced transaction volumes . Total assets rose 18% to GHS 11.31 billion, customer deposits grew 16% to GHS 8.19 billion, and the bank’s Capital Adequacy Ratio (CAR) stood at a robust 20.46%—well above the Bank of Ghana‘s regulatory floor of 13% .

For investors, corporate clients, and market observers, UBA Ghana represents a compelling thesis: a subsidiary of a Nigerian banking giant (present in 20 African countries and the UK) that has successfully navigated Ghana‘s post-DDEP environment and is now reaping the rewards of disciplined execution, product innovation, and strategic leadership renewal . The appointment of Bernard Gyebi as Managing Director/Chief Executive Officer effective January 1, 2026, brings over 27 years of executive leadership experience in corporate governance, regulatory compliance, and strategic transformation to the helm . He takes over from Uzoechina Molokwu, who steered the bank through a period of consolidation and operational strengthening .

This profile examines UBA Ghana‘s business model, its 2025 financial performance, the groundbreaking MoMo-to-Visa prepaid card innovation, the leadership transition, and the critical question: can a foreign-owned bank with Nigerian parentage sustain this momentum as Ghana’s banking sector normalises?

Company Overview

The UBA Group: Africa‘s Global Bank

UBA Ghana is a wholly-owned subsidiary of United Bank for Africa (UBA) Plc, one of Africa‘s largest and most diversified financial services groups. Founded in 1949 in Nigeria, UBA has grown into a pan-African banking behemoth with a presence in 20 African countries as well as the United Kingdom, the United States, and France . The group serves over 25 million customers across personal, business, corporate, commercial, and private banking segments.

The UBA Group is widely recognised for its “Africa‘s Global Bank” positioning—a strategy that connects African businesses and individuals to international markets while facilitating cross-border trade and investment across the continent. This pan-African scale is a significant competitive advantage for the Ghana subsidiary, enabling it to offer trade finance corridors, correspondent banking relationships, and capital market access that purely local banks cannot match.

UBA Ghana: A History of Growth

UBA Ghana was founded in 2005, making it a relatively young institution compared to century-old banks like Standard Chartered or Barclays/Absa, but its parentage provides institutional heritage dating to 1949 . Over two decades, the bank has built a reputation for innovation, customer focus, and financial inclusion, with a growing network of branches and digital channels across the country .

The bank‘s recent performance trajectory has been remarkable. From GHS 9.58 billion in total assets in September 2024, the bank grew to GHS 11.31 billion by September 2025—an 18% increase . Customer deposits expanded from GHS 7.08 billion to GHS 8.19 billion over the same period, reflecting growing customer confidence in the bank‘s brand and services . And the full-year 2025 results demonstrated that this growth is translating directly to the bottom line, with profit before tax surging 148% to GHS 629.93 million .

Leadership: Bernard Gyebi Takes the Helm

The most consequential development for UBA Ghana in 2026 is the leadership transition. On January 1, 2026, Bernard Gyebi assumed the role of Managing Director/Chief Executive Officer, succeeding Uzoechina Molokwu .

Bernard Gyebi – MD/CEO

Gyebi brings over 27 years of executive leadership across Ghana‘s banking landscape to his new role . He has a distinguished track record in:

• Corporate governance

• Regulatory compliance

• Strategic transformation

• Stakeholder management

His appointment signals UBA‘s commitment to deep local expertise. Gyebi is not an expatriate rotated from another market; he is a Ghanaian banking veteran who understands the nuances of the local regulatory environment, customer base, and competitive dynamics.

Gyebi‘s appointment has been followed by active engagement with key stakeholders. In February 2026, he led a UBA Ghana delegation on a courtesy call to the Ga Mantse, His Royal Majesty King Tackie Teiko Tsuru II, to formally introduce the bank‘s newly appointed executive leadership . The delegation included Daniel Sarpong (Executive Director), Rita Robert-Mills (Head of Corporate Banking), and Henry Nii Dottey (Regional Head, Brand, Marketing and Corporate Communication for Anglophone West Africa and UBA Ghana) .

Speaking during the visit, Gyebi emphasised the bank‘s recognition of the Ga State as its home and the importance of respect and collaboration in leadership .

At the GEXIM@10 conference, Gyebi called for a shift from ESG frameworks to execution, urging owners of small and medium enterprises to focus on practical implementation rather than theoretical compliance .

Daniel Kwesi Sarpong – Executive Director

Alongside Gyebi‘s appointment, the Board announced the appointment of Daniel Kwesi Sarpong as Executive Director of UBA Ghana . Sarpong brings substantial banking experience to the executive team and will play a key role in executing the bank‘s strategic agenda.

Leadership Transition Context

The appointment of Gyebi and Sarpong represents a deliberate succession plan following the tenure of outgoing MD/CEO Uzoechina Molokwu, who steered UBA Ghana during a period of consolidation and operational strengthening . Molokwu oversaw the bank‘s navigation of the post-DDEP environment and the early stages of its current growth trajectory. Gyebi now inherits a bank in robust financial health with strong momentum.

Operations and Footprint

UBA Ghana operates a nationwide network of branches across key commercial centres. While the exact branch count is not publicly disclosed, the bank has a physical presence in Accra and other regional capitals, complemented by robust digital banking channels including internet banking, mobile banking, and instant bill pay services .

The bank‘s headquarters is located in Accra, and it serves a diverse customer base across retail, business, corporate, and institutional segments.

Key operational metrics (as of September 2025):

Business Model: The Universal Bank With a Pan-African Advantage

UBA Ghana operates as a full-service universal bank, offering a wide range of products and services to retail, business, corporate, and institutional clients. The bank‘s business model is distinguished by three core competitive advantages: pan-African scale, digital innovation, and financial inclusion focus.

Core Business Segments

1. Corporate and Institutional Banking

This segment serves large Ghanaian enterprises, multinationals, public institutions, and government agencies. Products include:

• Corporate current accounts

• Structured trade finance

• Working capital facilities

• Treasury and cash management

• Syndicated loans

• Project finance

UBA‘s pan-African footprint is particularly valuable in this segment. A Ghanaian company expanding into Nigeria, Cameroon, or Kenya can maintain a single banking relationship across multiple countries, reducing complexity and cost.

2. Business and Commercial Banking (SME Focus)

Serving small and medium enterprises, this segment provides:

• Business current and savings accounts

• Term loans and overdrafts

• Trade finance facilities

• Electronic collections and bulk payments

• Business advisory services

UBA Ghana has consistently supported SMEs through tailored financing solutions and digital tools that help business owners manage their operations more efficiently.

3. Retail and Personal Banking

Individual consumers, salary earners, and mass-market depositors benefit from:

• Current and savings accounts

• Credit and debit cards

• Personal loans

• Investment products

• Diaspora banking services

4. Digital Banking and Payments

UBA Ghana offers a comprehensive suite of digital banking solutions, including:

• Internet banking

• Mobile banking

• Instant bill pay services

• Prepaid Visa cards with MoMo loading capability

How They Make Money: The 2025 Financial Transformation

UBA Ghana‘s 2025 full-year financial results represent the most impressive performance in the bank‘s recent history.

Full-Year 2025 Financials

Key Drivers of Performance

1. Robust Revenue Expansion: The 38% increase in fees and commissions is particularly significant . Unlike interest income (which depends on the Bank of Ghana‘s policy rate and is vulnerable to margin compression), non-funded income is more resilient and scalable. The surge in transaction volumes suggests that UBA‘s digital platforms and customer acquisition strategies are gaining traction.

2. Interest Income Growth: The 8.6% increase in interest income to GHS 1.13 billion reflects growth in interest-earning assets and effective balance sheet management, even as the Bank of Ghana reduced policy rates during 2025 .

3. Improved Operational Efficiency: The impressive profit growth outpaced revenue growth, suggesting that UBA Ghana also benefited from cost discipline and lower impairment charges compared to the 2024 period.

4. Strong Capital Position: The Capital Adequacy Ratio of 20.46% is well above the regulatory minimum of 13%, providing a substantial buffer against unexpected losses and capacity for further loan book expansion .

5. Balance Sheet Growth: Total assets grew 18% to GHS 11.31 billion, and customer deposits rose 16% to GHS 8.19 billion, reflecting a broadening customer base and deepening relationships with existing clients .

Comparisons to Peers

UBA Ghana‘s 148% profit growth is significantly higher than most peers, though it should be noted that 2024‘s profit base (GHS 253.58 million) may have been suppressed by DDEP-related impairments. The 2025 performance represents both recovery and genuine growth.

The MoMo-to-Visa Prepaid Card Innovation

UBA Ghana‘s most distinctive product innovation is the Mobile-Money-to-Visa prepaid card service, launched in September 2025 .

The Product

UBA Ghana upgraded its prepaid card services by introducing a feature that allows customers to load funds directly from their mobile money (MoMo) wallets onto their Ghana Cedi-denominated prepaid Visa cards .

The Problem It Solves

Ghana has one of the most dynamic mobile money markets in Africa, with millions of citizens conducting daily transactions via MTN MoMo and other wallets. However, MoMo wallets cannot be used directly for international online shopping, in-store payments outside Ghana, or travel. Customers who primarily use MoMo have historically been excluded from the global digital economy.

The Solution

With UBA‘s innovation, MoMo users can:

• Top up their prepaid Visa cards directly from their mobile wallets

• Shop online on international websites (Amazon, eBay, AliExpress, etc.)

• Pay in stores wherever Visa is accepted

• Access a wide range of Visa-enabled services and portals worldwide

• Travel with a globally accepted payment card

The Strategic Significance

Outgoing MD/CEO Uzoechina Molokwu articulated the strategic importance at launch:

“Introducing Mobile Money as a source of funding for the prepaid card creates flexibility, convenience, and control for customers, directly from their mobile devices. This initiative reflects UBA‘s ongoing efforts to blend the strengths of traditional banking with the possibilities of digital innovation. Such advancements contribute to the vision of creating a more connected, inclusive, and cashless Africa” .

This innovation is three things simultaneously:

1. A customer acquisition tool: MoMo users who would not otherwise open a UBA account are incentivised to do so.

2. A revenue generator: Each prepaid card transaction generates fee income for UBA.

3. A financial inclusion instrument: It bridges the gap between the informal economy (MoMo) and the formal global financial system (Visa).

The service is available to all UBA prepaid card holders and is aligned with the bank’s broader strategy to drive financial inclusion and promote reliable, cashless banking solutions .

Other Digital Offerings

Beyond the MoMo-to-Visa innovation, UBA Ghana offers:

• Internet banking for corporate and retail customers

• Mobile banking for everyday transactions

• Instant bill pay services for utilities and other regular payments

• Diaspora banking services for Ghanaians living abroad

Market Position and Competition

Industry Standing: The Momentum Player

UBA Ghana has entered 2026 as one of the most dynamic banks in the country. Its 148% profit growth is unmatched among peers for which comparable data is available. The 20.46% CAR places it among the best-capitalised banks in Ghana .

The bank‘s assets of GHS 11.31 billion place it in the mid-Tier 2 category—comparable to FirstBank Ghana (GHS 6.24 billion) and larger than BOA Ghana (GHS 4.03 billion), though smaller than OmniBSIC (GHS 21.6 billion) and the Tier 1 giants GCB and Ecobank.

However, UBA Ghana‘s profit trajectory suggests it is punching above its weight in terms of efficiency and returns.

Competitive Advantages

1. Pan-African Scale

As a subsidiary of UBA Plc (present in 20 African countries), UBA Ghana can offer cross-border banking services that purely local banks cannot match . For Ghanaian businesses trading with Nigeria, Cameroon, Kenya, or other African markets, UBA provides a single banking relationship across multiple jurisdictions.

2. The MoMo-to-Visa Innovation

This product is a genuine differentiator. No other major bank in Ghana has enabled direct MoMo-to-Visa card loading at the time of launch. For the millions of Ghanaians who rely on MoMo as their primary financial tool, UBA is now the gateway to the global digital economy.

3. Strong Capitalisation

The 20.46% CAR provides a substantial buffer for growth and risk absorption, and signals to corporate clients that UBA Ghana is a stable, trustworthy counterparty .

4. Leadership Renewal

The appointment of Bernard Gyebi brings deep local expertise and a track record of strategic transformation. His 27 years of executive leadership in Ghana‘s banking sector provide continuity and credibility .

5. Parent-Group Financial Strength

UBA Plc is one of Africa‘s largest and most profitable banking groups. This backing provides stability that purely indigenous banks cannot claim.

6. Profit Growth Momentum

The 148% profit surge creates positive sentiment among customers, investors, and partners. Momentum begets momentum.

Competitive Disadvantages

1. Foreign Ownership Perception

Some Ghanaian depositors and corporate clients may prefer “indigenous” banks for patriotic reasons or to meet local content requirements.

2. Smaller Asset Base

At GHS 11.31 billion, UBA Ghana cannot compete for the largest corporate loans or infrastructure financing mandates that require multi-billion cedi commitments.

3. Limited Government Banking Share

As a foreign-owned bank, UBA may not have the same access to government payroll, public sector banking, and SOE relationships that state-influenced banks (GCB, CBG, ADB) enjoy.

4. Parent-Group Dependency

If UBA Plc faces challenges in Nigeria—currency volatility, regulatory changes, competitive pressures—capital allocation to Ghana could be affected.

5. Brand Recognition vs. Incumbents

While UBA is a respected brand, it lacks the multi-generational Ghanaian brand equity of GCB (1953) or the pan-African prestige of Ecobank.

Digital Strategy and Innovation

UBA Ghana‘s digital strategy is anchored on financial inclusion through innovation. The bank has moved beyond providing standard digital banking channels to actively bridging the gap between traditional banking and the informal economy.

The MoMo-to-Visa Ecosystem

The bank‘s flagship digital innovation is the MoMo-to-Visa prepaid card service, but this is not an isolated product—it is part of a broader strategic vision: making UBA the bank of choice for Ghanaians whose primary financial relationships are with mobile money operators rather than traditional banks.

How It Works:

• Customer opens a UBA account (if not already a customer)

• Customer obtains a UBA Ghana Cedi-denominated prepaid Visa card

• Customer loads funds directly from their mobile money wallet

• Card can be used for online shopping, in-store payments, and global Visa acceptance

The Financial Inclusion Impact:

Molokwu framed the initiative within UBA‘s broader vision:

“Such advancements contribute to the vision of creating a more connected, inclusive, and cashless Africa“ .

For the millions of Ghanaians who are “unbanked” but “MoMo-ed,” UBA has created a bridge to the formal financial system.

Digital Banking Platforms

UBA Ghana offers a comprehensive suite of digital banking solutions:

• Internet banking for corporate clients requiring sophisticated transaction capabilities

• Mobile banking for retail customers

• Instant bill pay for utilities and regular payments

• Diaspora banking for Ghanaians abroad

Future Digital Priorities

With 38% growth in fees and commissions in 2025 , UBA Ghana is clearly benefiting from digital adoption. Under Gyebi’s leadership, the bank is likely to:

• Deepen the MoMo-to-Visa offering (perhaps adding more card types or lower fees)

• Expand agent banking relationships to extend geographic reach

• Enhance the mobile app with additional features

• Explore Open Banking APIs for fintech partnerships

Financial Performance Deep Dive: What the 2025 Numbers Really Mean

UBA Ghana‘s 2025 financial results deserve closer scrutiny, as they reveal the underlying drivers of the bank‘s transformation.

Profitability Analysis

Observations:

• Q3 2025 alone contributed GHS 430.7 million in PBT, meaning the fourth quarter added approximately GHS 199.23 million—consistent performance across the year.

• The 148% full-year PBT growth is not just a Q4 spike; the bank performed consistently across all quarters.

• Profit after tax of GHS 407.10 million represents a 148% increase, indicating that the bank‘s effective tax rate remained stable.

Balance Sheet Strength

Observations:

• Asset growth of 18% outpaced deposit growth of 16%, suggesting the bank is deploying its balance sheet more efficiently or benefiting from other funding sources.

• The deposit growth of 16% indicates strong customer acquisition and retention.

Capital Adequacy

The CAR of 20.46% is significantly above the regulatory minimum of 13% . For context:

UBA Ghana‘s CAR provides ample room for loan book expansion without immediate capital raising.

Loan Book Expansion

Net loans grew to GHS 1.28 billion in 2025 . While this is modest relative to total assets (GHS 11.31 billion), it represents significant growth from prior periods and suggests the bank is increasingly deploying its liquidity into higher-yielding assets.

Fee and Commission Income

The 38% increase in fees and commissions is the most encouraging metric for long-term sustainability . Non-funded income is less sensitive to interest rate fluctuations and more scalable. The growth here suggests that UBA Ghana‘s digital platforms and transaction-based services are gaining traction.

Leadership Deep Dive: Bernard Gyebi‘s Agenda

Bernard Gyebi‘s appointment in January 2026 marks a new chapter for UBA Ghana. To understand where the bank is going, it is useful to understand the leader taking it there.

Gyebi‘s Track Record

With over 27 years of executive leadership across Ghana‘s banking landscape, Gyebi has a distinguished track record in:

• Corporate governance: Ensuring that banks operate with integrity, transparency, and accountability

• Regulatory compliance: Navigating the complex requirements of the Bank of Ghana and other regulators

• Strategic transformation: Leading institutions through periods of fundamental change

• Stakeholder management: Building relationships with customers, employees, regulators, and community leaders

Early Actions as MD/CEO

1. Stakeholder Engagement

In February 2026, Gyebi led a UBA Ghana delegation on a courtesy call to the Ga Mantse, His Royal Majesty King Tackie Teiko Tsuru II . This was not merely ceremonial—it was a strategic act of relationship-building with traditional authority, which remains influential in Ghanaian commerce.

The delegation included:

• Bernard Gyebi (Managing Director)

• Daniel Sarpong (Executive Director)

• Rita Robert-Mills (Head of Corporate Banking)

• Henry Nii Dottey (Regional Head, Brand, Marketing and Corporate Communication for Anglophone West Africa and UBA Ghana)

Gyebi emphasised the bank‘s recognition of the Ga State as its home and the importance of respect and collaboration in leadership .

2. Thought Leadership at GEXIM@10

At the GEXIM@10 conference, Gyebi called for a shift from ESG frameworks to execution, urging SME owners to focus on practical implementation rather than theoretical compliance . This signals a pragmatic, results-oriented leadership philosophy.

What Gyebi‘s Appointment Means for Strategy

Gyebi is not an expatriate rotated from Lagos; he is a Ghanaian banking veteran. This suggests UBA is:

• Deepening local commitment rather than treating Ghana as a rotational posting

• Prioritising regulatory relationships through a leader who understands the Bank of Ghana‘s expectations

• Focusing on SME execution rather than just SME rhetoric

The Sarpong Appointment

The appointment of Daniel Kwesi Sarpong as Executive Director  provides Gyebi with a strong operational partner. Together, they form a leadership team with deep Ghanaian banking experience and a mandate to build on the momentum established under Molokwu.

Challenges and Risks

No analysis of UBA Ghana is complete without acknowledging the headwinds that accompany its strong performance.

Risk 1: Parent-Group Dependency

UBA Ghana is a wholly-owned subsidiary of UBA Plc (Nigeria). While the Nigerian parent provides capital and strategic direction, it also introduces risks. Nigeria‘s banking sector has faced challenges: currency volatility (the naira‘s fluctuations affect group reporting), regulatory changes, and competitive pressures. A crisis at the parent level would inevitably affect the Ghana subsidiary.

Risk 2: Margin Compression

The Bank of Ghana reduced the policy rate from 30% to 18% during 2025, and further reductions are likely. This compresses net interest margins across the industry. UBA Ghana has offset this through strong growth in non-interest income (the 38% increase in fees and commissions), but sustained rate reductions will test this resilience.

Risk 3: MoMo-to-Visa Monetisation

The MoMo-to-Visa innovation is brilliant for customer acquisition and financial inclusion, but its profitability is unproven. The revenue model likely relies on transaction fees and cross-selling higher-margin products to onboarded customers. If cross-sell rates are lower than expected, the ROI on this initiative could disappoint.

Risk 4: Competition

UBA Ghana has entered 2026 with strong momentum, but competitors are not standing still:

• Access Bank has launched Access U and is aggressively pursuing youth banking

• GCB Bank is receiving government support and is a formidable incumbent

• Stanbic remains the corporate banking king

• Ecobank has pan-African scale

Risk 5: Leadership Transition Execution

Gyebi‘s appointment is a strength, but any leadership transition carries risk. The bank must maintain the momentum established under Molokwu while Gyebi puts his stamp on strategy. Full-year 2026 results will be the real test of the new leadership team.

Risk 6: Economic Sensitivity

Ghana‘s economy showed strong recovery in 2025 (inflation in single digits, cedi appreciation), but these gains are not irreversible. A commodity price shock (falling gold prices), climate event affecting cocoa, or political disruption could reverse progress, affecting UBA‘s loan portfolio and deposit stability.

Risk 7: Sovereign Exposure Concentration

Like all banks in Ghana, UBA holds government securities. While its CAR of 20.46% provides a buffer, a deterioration in Ghana‘s fiscal position would affect the value of these securities.

Economic and Industry Impact

Employment

UBA Ghana employs hundreds of Ghanaians (exact figure not publicly disclosed) across its branch network, headquarters, and digital operations. The bank‘s growth creates direct and indirect employment opportunities.

Financial Inclusion Leadership

The MoMo-to-Visa innovation is arguably UBA Ghana‘s most significant contribution to Ghana‘s economic development . By enabling millions of MoMo users to access the global Visa network, the bank is:

• Reducing cash dependency in the economy

• Enabling online commerce for previously excluded customers

• Creating a digital transaction trail that can support credit applications

• Formalising informal economic activity

Visa‘s endorsement: The service is enabled by Visa‘s global payment network, providing security, reliability, and worldwide acceptance.

SME Support

UBA Ghana has consistently supported SMEs through tailored financing solutions. Gyebi‘s call for a shift from ESG frameworks to execution at GEXIM@10 suggests that SME lending will be a priority under his leadership .

Banking Sector Stability

UBA Ghana‘s strong capitalisation (20.46% CAR) and impressive profitability contribute to overall banking system stability . A healthy, well-managed foreign-owned bank reduces systemic risk.

Cross-Border Trade Facilitation

As a subsidiary of UBA Plc (present in 20 African countries), UBA Ghana facilitates trade and investment flows between Ghana and other African markets . This supports the African Continental Free Trade Area (AfCFTA) agenda and reduces reliance on European and American correspondent banks.

Capital Markets

While UBA Ghana is not listed on the Ghana Stock Exchange (the parent UBA Plc is listed in Nigeria), the bank‘s strong performance reflects positively on the broader Ghanaian banking sector and may attract foreign portfolio investment to the country.

Future Outlook

As of May 2026, UBA Ghana is executing under new leadership, with strong momentum from 2025, a differentiated product (MoMo-to-Visa), and a fortress balance sheet (20.46% CAR). The strategic questions ahead are substantial but manageable.

The Immediate Agenda

Gyebi‘s priorities for 2026-2027 are likely to include:

1. Sustaining the 2025 momentum while putting his stamp on strategy

2. Scaling the MoMo-to-Visa offering to capture significant market share of MoMo users

3. Expanding the loan book without deteriorating asset quality

4. Deepening SME relationships through execution-focused programmes

5. Maintaining capital adequacy while supporting growth

6. Strengthening stakeholder relationships (as evidenced by the Ga Mantse visit)

The Bull Case (Optimistic)

• Momentum sustains: The 148% profit growth is not a one-off; 2026 delivers another year of strong (if lower) profit growth, confirming that the 2025 performance was structural rather than episodic.

• MoMo-to-Visa scales: The innovation captures hundreds of thousands of new UBA customers; transaction fee income grows significantly; the bank becomes the default gateway from MoMo to global commerce.

• Loan book deployment accelerates: UBA deploys its GHS 1.28 billion loan book toward higher-yielding assets without increasing NPLs; net interest income grows faster than 8.6%.

• SME execution delivers: Gyebi‘s focus on SME lending captures market share from less agile competitors; UBA becomes the bank of choice for Ghana‘s small businesses.

• Parent-group support intensifies: UBA Plc sees Ghana as a priority market and provides additional capital for digital transformation and potential acquisitions.

• Fees and commissions continue climbing: The 38% growth in 2025 proves repeatable; non-interest income becomes a larger share of total revenue, reducing sensitivity to interest rate cuts.

The Bear Case (Pessimistic)

• Momentum moderates sharply: The 148% growth was driven by a low 2024 base; 2026 returns to more normal growth (10-20%); the stock of goodwill from 2025 erodes.

• MoMo-to-Visa monetisation disappoints: Customers use the card for small transactions but do not take up higher-margin credit products; the ROI on the Visa partnership falls short.

• Margin compression accelerates: The Bank of Ghana reduces policy rates faster than expected; net interest income declines sharply; non-interest income cannot compensate.

• Competition intensifies: Ecobank, Access, or Fidelity launch competing MoMo-to-card products; first-mover advantage erodes.

• Economic recovery stalls: Gold prices fall, cedi depreciates, inflation rises; loan defaults increase; impairment charges rise.

• Parent-group distress: UBA Plc faces challenges in Nigeria; capital allocation to Ghana is reduced.

The Verdict

UBA Bank Ghana has emerged from the 2022-2024 crisis as one of the most dynamic, best-capitalised, and fastest-growing banks in the country. The 148% profit growth in 2025 is not merely a recovery story; it reflects genuine strategic execution: expanding the loan book by 8.6%, growing fees and commissions by 38%, increasing deposits by 16%, and assets by 18% .

The MoMo-to-Visa innovation is a genuine differentiator. No other major bank in Ghana has bridged the gap between mobile money (the dominant payment method for millions of Ghanaians) and the global Visa network . For the unbanked but MoMo-ed customer, UBA is now the gateway to international e-commerce, travel, and financial services.

The leadership transition to Bernard Gyebi brings deep local expertise and a track record of strategic transformation . His early actions—engaging with traditional authority, speaking at GEXIM@10—suggest a leader who understands that banking in Ghana is about relationships, execution, and respect.

The risks are real—parent-group dependency, margin compression, competition—but the trajectory is unmistakable. UBA Ghana has entered 2026 as a momentum story with a differentiated product, a fortress balance sheet, and a new leadership team that knows the market intimately.

For corporate clients, UBA Ghana offers pan-African connectivity and a well-capitalised balance sheet. For MoMo users, the bank offers a bridge to the global economy. For the Ghanaian economy, UBA Ghana is a stabilising, inclusive, and growth-oriented financial partner.

The elephant is not just in the room; it is stampeding.

FAQ SECTION

1. Is UBA Ghana a Ghanaian-owned bank?
No. UBA Ghana Ltd is a wholly-owned subsidiary of United Bank for Africa (UBA) Plc, a Nigerian banking group founded in 1949 with a presence in 20 African countries and global operations in the UK, US, and France .

2. Who is the Managing Director of UBA Ghana?
The Managing Director and Chief Executive Officer is Bernard Gyebi, appointed effective January 1, 2026 . He brings over 27 years of executive leadership experience in Ghana‘s banking landscape, with expertise in corporate governance, regulatory compliance, and strategic transformation.

3. Who was the previous MD?
Gyebi took over from Uzoechina Molokwu, who steered UBA Ghana during a period of consolidation and operational strengthening before transitioning to another role within the UBA Group .

4. How did UBA Ghana perform in 2025?
UBA Ghana delivered exceptional 2025 results: profit before tax surged 148% to GHS 629.93 million, profit after tax rose 148% to GHS 407.10 million, and gross earnings reached GHS 1.46 billion. Total assets grew 18% to GHS 11.31 billion, customer deposits rose 16% to GHS 8.19 billion, and the bank‘s Capital Adequacy Ratio stood at 20.46% .

5. What is the MoMo-to-Visa prepaid card?
Launched in September 2025, this innovation allows UBA Ghana customers to load funds directly from their mobile money (MoMo) wallets onto their Ghana Cedi-denominated prepaid Visa cards . This enables MoMo users to shop online internationally, pay in stores where Visa is accepted, travel with a globally accepted card, and access Visa-enabled services worldwide.

6. Why is the MoMo-to-Visa innovation significant?
Millions of Ghanaians use MoMo as their primary financial tool but cannot use MoMo wallets for international online shopping or travel. UBA‘s solution bridges this gap, connecting the informal economy (MoMo) to the formal global financial system (Visa). This drives financial inclusion, expands e-commerce access, and promotes cashless transactions .

7. What is UBA Ghana‘s Capital Adequacy Ratio (CAR)?
UBA Ghana‘s CAR stood at 20.46% as of September 2025, well above the Bank of Ghana‘s regulatory minimum of 13% . This places the bank among the best-capitalised in the country.

8. Is UBA Ghana a large bank in Ghana?
UBA Ghana is a mid-Tier 2 bank by assets (GHS 11.31 billion). It is smaller than Tier 1 giants like GCB (GHS 60 billion+) and Ecobank (GHS 46 billion) but comparable to OmniBSIC (GHS 21.6 billion) and larger than FirstBank Ghana (GHS 6.24 billion). However, its 148% profit growth and 20.46% CAR demonstrate exceptional performance relative to its asset base.

9. Who is the Executive Director of UBA Ghana?
Daniel Kwesi Sarpong was appointed Executive Director alongside Bernard Gyebi‘s appointment as MD/CEO, effective January 1, 2026 .

10. What digital banking services does UBA Ghana offer?
UBA Ghana offers internet banking, mobile banking, instant bill pay services, and diaspora banking. The flagship innovation is the MoMo-to-Visa prepaid card service, which bridges mobile money and global Visa acceptance .

11. Does UBA Ghana support SMEs?
Yes. UBA Ghana has a dedicated Business and Commercial Banking segment serving SMEs with tailored financing solutions, trade finance facilities, electronic collections, and business advisory services. MD Bernard Gyebi has called for a shift from ESG frameworks to execution in SME support .

12. How can I contact UBA Ghana?
UBA Ghana operates a network of branches across the country, with its headquarters in Accra. Customers can also access the bank through its mobile banking app, internet banking platform, and customer service channels. The bank also offers dedicated diaspora banking services for Ghanaians abroad .

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Source: Accra Street Journal 

Last Updated on May 4, 2026 by Samuel Kwame Boadu