The Group Managing Director and Chief Executive Officer of United Bank for Africa (UBA) Plc, Oliver Alawuba, has urged more attention on turning Africa's many opportunities into projects that can attract investment.
Alawuba spoke in New York at the Forward Africa Leaders Symposium during the ongoing United Nations General Assembly (UNGA). He took part in a discussion called "From Mandate to Impact."
He discussed the need to turn Africa's development goals into real results. Alawuba said Africa's opportunities need careful planning and serious funding. He pointed out that projects must be financially sustainable and backed by institutions that can meet their promises.
He also stressed the importance of reliable income, trustworthy institutions, and accountable delivery to unlock lasting funding for the continent.
Drawing on UBA's experiences across Africa, Alawuba showcased the bank's role in linking African businesses with capital, skills, and financial systems. He mentioned projects in telecommunications, energy, road construction, digital services, and other important sectors.
For example, in Chad, UBA financed a US$6.56 million telecommunications modernization project that started in 2021 and is set to finish in 2025. The loan has already been fully repaid. Alawuba said this project shows how a clear development need can go from funding to completion when the right system and accountability are in place.
According to Alawuba, UBA has played a key role in boosting Africa's growth. This is further shown by a US$45 million loan to Oak Asset SPV for road construction in Kenya. UBA's relationships go beyond just financing projects to include government collections and contractor support, creating a banking system that helps the entire delivery process.
Alawuba highlighted how digital finance is also expanding opportunities in African markets. He mentioned Leo, UBA's digital banking platform, which now has over six million users in 20 African countries and handles more than 16 million transactions each year.
He noted that Leo supports English, French, Portuguese, and Swahili. UBA is leading with innovation, showing how digital services can help overcome language and market challenges. Its payment options help with everyday banking and international trade.
He also pointed out UBA's financing efforts in countries like Burkina Faso, the Democratic Republic of Congo, Ghana, Tanzania, and Liberia. These examples show how commercial banking can aid African development through direct lending, syndicated financing, guarantees, contractor support, and other banking services that help project operations.
Alawuba emphasized that these experiences highlight how African financial institutions must understand local markets while keeping international links to gather capital and support cross-border investment. He said, "At UBA, Africa's Global Bank, we believe that African businesses should be at the heart of Africa's growth, supported by strong institutions and productive global partnerships."
In closing, he urged stakeholders to focus on preparing and reducing risks for a selected group of viable projects. He also called for priority to be given to finishing existing viable investments while preparing the next generation of bankable projects in areas like reliable power, digital connectivity, and logistics.
United Bank for Africa is one of Africa's largest financial institutions, serving over 45 million customers worldwide. UBA operates in 20 African countries, as well as in the United Kingdom, the United States, France, and the United Arab Emirates. The bank provides retail, commercial, and institutional banking services while promoting financial inclusion, innovation, and sustainable development across its markets.
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