UMB Scoops Continental Leadership and Digital Banking Awards as Transformation Bears Fruit

Universal Merchant Bank has secured a string of high-profile awards recognising its transformation strategy, digital innovation and support for small and medium-sized enterprises — a signal that the bank’s multi-year restructuring effort is gaining recognition beyond Ghana’s borders.

At the Africa Leadership Persons of the Year Awards, UMB’s Chief Executive Officer, Dr Philip Oti-Mensah, received the Special African Banking Leadership Commendation Award, recognising his stewardship of a turnaround that has positioned the bank among the country’s more ambitious financial institutions. He shared the stage with recipients including former President John Dramani Mahama, who was named African of the Year 2025, and former President John Agyekum Kufuor, who received an Outstanding African Leadership Legacy Award.

The bank was also named Digital Bank of the Year at the same event, acknowledging its investment in secure, scalable digital platforms. Separately, UMB picked up the Excellence in SME Banking Award at the 25th Connected Banking Summit in Accra, a gathering of more than 300 chief executives, regulators and technology leaders from across the region.

The recognition comes at a time when Ghana’s broader economic recovery is creating new opportunities for banks willing to invest in digital infrastructure and enterprise lending. The Finance Minister’s recent declaration that the economy has moved “from ICU to wellness centre” has set a more optimistic tone for the financial sector, though challenges around the cedi and inflation persist.

UMB’s recent product launches underpin its award citations. The bank rolled out a new mobile application, the UMB SpeedApp, redesigned its corporate website and modernised its contact centre into a 24-hour engagement hub — changes that reflect the industry-wide push to reduce branch dependency and improve customer experience through technology.

Dr Oti-Mensah described the awards as a reflection of teamwork and customer trust. “To our customers — your confidence inspires us. To our staff — your professionalism delivers excellence daily. To our Board and Management — your steady guidance keeps us focused,” he said.

The Connected Banking Summit, which has held 24 editions across Africa, the Middle East and Southeast Asia, focused this year on the theme “Next-Gen Finance West Africa: Resilient, Scalable and Customer-Centric.” Samuel Nartey George, Minister for Communication, Digital Technology and Innovations, delivered the keynote, urging financial institutions to ensure that digital innovation delivers tangible benefits to SMEs, women, youth and the informal sector.

UMB’s SME Banking award positions it alongside a growing number of Ghanaian banks targeting the small business segment, which accounts for the majority of employment in the country. Whether the bank can sustain its momentum amid competitive pressure from larger lenders and mobile money platforms remains to be seen, but the awards mark a notable chapter in a transformation journey that is still unfolding.

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