United Overhauls Management Strategy

Feb 9 , 2019

United Bank, one of the 16 private banks, has announced that it has launched its long-term strategic road map, becoming the fifth private bank to initiate the same strategy. The Bank hired Deloitte Consulting to redesign a 12-year management strategy, Strategy 2030, for an estimated cost of 21 million Br to 25 million Br. The global consulting firm took 10 months to prepare the strategy. In the road map, the Bank, established in 1998 and currently operating more than 244 branches, aspires to become one of the top five private banks in East Africa. The Bank decided to revise the strategic plan to capitalise on the growth opportunity that has presented itself in Ethiopia and the positive economic developments happening regionally and globally, according to the statement from the bank. The strategic document has undergone different draft approval processes by management and the board of directors and was finally approved for implementation with the goal of achieving regional prominence by 2030, according to the statement.