- Staff members get second pay rise in 90 days
- Massive promotions
United Bank for Africa (UBA) Plc has reaffirmed its commitment to prioritise the welfare of its staff and their families, reflecting the economic realities and its impact on living conditions.
To this end, the bank’s Board of Directors have announced the implementation of a cost of living adjustment for its staff immediately
The bank said over the past few months, it has been monitoring the effect of the rising cost of living on its employees and recognises the importance of addressing these challenges proactively.
According to the bank, while it had previously implemented cost of living adjustment for staff on October 1, 2021 and more recently on April 1, 2023, the persistent economic challenges faced by employees and the broader society, informed the decision to, again, implement another adjustment.
Also in line with its commitment to promote staff for excellent performance yearly, UBA had, in March, this year, announced the promotion of over 1,500 staff members across Africa, and had also elevated close to 1,000 others last year.
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Group Managing Director, UBA, Plc, Mr. Oliver Alawuba, said the bank was aware of the impact of the recent economic policy pronouncements on prices and staff capacity to meet their financial commitments to family and personal needs.
According to him, as an organisation focused on the well-being of our people, the Board of UBA was pleased to approve a welfare allowance for employees.
Alawuba explained that the decision to adjust the staff’s remuneration package once, again, demonstrated UBA’s commitment to maintaining the standard of living for its employees at a level that is commensurate with prevailing economic conditions.
“This move will serve to alleviate the financial burdens faced by our staff and their families, reinforcing the bank’s position as a responsible and caring employer,” Alawube said.
He commended staff for their effort and dedication and hard work of its employees, which remains the bedrock of its success, as he noted that the bank recognises the critical role played by its workforce in navigating challenges and ensuring the continued growth of the institution.
“My profound appreciation to you for your commitment to our corporate goals and adherence to our core values, as demonstrated in our remarkable half-year 2023 results. By enhancing staff welfare, we aim to boost employee morale and foster a conducive and rewarding work environment that empowers employees to thrive both personally and professionally,” Alawube said.