UBA’s projects across Africa hits $1.415bn
Omeiza Bilal
The Group General Manger of United Bank for Africa (UBA), Oliver Alawuba, say the Bank it has so far committed a total sum of $1.415 billion to various projects across Africa.
A breakdown showed over $400 million was committed to Tanzania’s Julius Nyerere Hydropower Project, $700 million in Nigeria’s power sector, and $315 million for Ghanaian roads.
In a keynote address delivered at the UAE-Chad Trade & Investment Forum in Abu Dhabi, UAE on Monday, Alawuba, said, the commitments were part of efforts to de-risk investment and unlock capital at scale.
Speaking on the theme: Financing African Competitiveness – Building Bridges, Powering Progress, the GMD, insisted that the Bank is no longer just a mere intermediary, but as an architect of finance.
He said, “At UBA, we have always believed that the capital to transform Africa exists, both within and outside our continent. The challenge has never been a lack of capital, but a lack of bankable structures and credible partnerships, including huge domestic capital misalignment.”
Alawuba pledged the Bank commitment to financing Africa’s economic transformation with its support for Chad’s $30 billion Tchad Connexion 2030 initiative describing the initiative as a model for continental competitiveness.
In specifics, UBA GMD, said, it will partner with Chad to structure Private-Public Partnership for solar plants, and water treatment facilities; provide syndicated loans and project financing to connect regional energy grids, to ensure stable and affordable power for industrial zones; and, help to deploy digital payment platforms to support Chad’s e-tax and e-registry initiatives, making the business climate more transparent and efficient for every investor.
“At UBA, our commitment is two-fold: we are both architects of national infrastructure and champions of grassroots financial inclusion. Here in Chad, this is not a promise; it is a proven track record. We have already committed over $102 million in direct investments in the State of Chad’s securities and have been the lead financier on critical national projects – from a $49 million domestic gas project to bring clean energy to households, to a $6.7 million wind farm in Amdjarass and essential funding for road maintenance and telecom modernization. This demonstrates a deep, vested partnership with Chad’s development agenda.
“But true competitiveness requires an inclusive economy. This is why our presence extends far beyond capital cities into the very fabric of Africa. In Mozambique, we serve clients in Beira, a 16-hour drive from the capital. In Guinea Conakry, our branch in Nzerekore is 788 kilometers away, and in Uganda, we are in Gulu, 335 km from Kampala. By planting our flag in these regions, we are ensuring that the SMEs, the farmers, and the entrepreneurs who form the backbone of the economy are not left behind. We are financing competitiveness from the ground up, ensuring that every link in the value chain, from a remote farmer to a national utility, has the capital to grow,” he said.
He urged the continent’s policy makers to combine its abundant our resources and our skills.
“Let us stand together to power Chad’s transformation, and in doing so, unlock a new era of African competitiveness,” he said.
