United Bank for Africa (UBA) presented on Thursday, 17 October, an ambitious white paper that aims to redefine the course of the financial ecosystem in Africa. The launch took place on the sidelines of the Annual Meetings of the World Bank and the International Monetary Fund (IMF), bringing together policymakers, investors and global financial leaders to discuss the continent’s strategic role in the international economic landscape.
The document, titled “Betting on Africa’s future: Unlocking capital and partnerships for sustainable growth”, sets out a clear and pragmatic vision for driving sustainable development in Africa. It proposes a detailed roadmap addressing critical areas such as trade facilitation, infrastructure, digital innovation, climate finance and economic inclusion. Prominent among them, the economic potential of 3.4 trillion dollars associated with the African Continental Free Trade Area (AfCFTA) emerges as the structuring axis of the proposal.
Active leadership on the continent
Tony Elumelu, chairman of the UBA Group, pointed out that this white paper marks a turning point for the bank, which seeks to move from words to concrete action:
“United Bank for Africa is turning Africa’s development agenda from words into action. With this technical document, we are championing initiatives that convert strategic dialogue into profitable projects and direct investments. Our commitment to carrying out these plans for the benefit of the continent and its people cannot be underestimated.”
Elumelu also highlighted UBA’s growing influence in initiatives that promote sound investment in strategic African sectors.
The private sector as an engine of change
For Oliver Alawuba, managing director and chief executive of the UBA Group, the private sector must take a central role in the process of economic transformation:
“There is an urgent need for private sector leadership.”
The bank’s vision rests on the conviction that domestic capital, combined with well-structured global partnerships, can unlock the continent’s opportunities, promoting inclusive and sustainable growth.
A heavyweight in the African financial sector
With a workforce of more than 25,000 employees and a base of more than 45 million customers worldwide, United Bank for Africa establishes itself as one of the pillars of the African financial system. Its active presence in several markets and its direct involvement in international economic forums reinforce its position as a catalyst for development and innovation on the continent.
