The United Bank for Africa (UBA) Plc's group managing director and chief executive officer, Oliver Alawuba, has urged stakeholders to prioritize turning Africa's vast opportunities into investable projects. Speaking at the Forward Africa Leaders Symposium in New York, during the United Nations General Assembly (UNGA) sessions, Alawuba emphasized the need for rigorous preparation and serious capital to translate Africa's development ambitions into tangible outcomes.
According to Alawuba, Africa's opportunities deserve serious capital and commercially sustainable projects supported by credible institutions capable of delivering on their commitments. He stressed the importance of dependable revenues, credible institutions, and accountable delivery to unlock sustainable capital for the continent. This, he believes, will help bridge the gap between Africa's development ambitions and tangible outcomes.
Drawing on UBA's experience across the continent, Alawuba highlighted the bank's role in connecting African enterprises with capital, expertise, and financial infrastructure. He cited projects in telecommunications, energy, roads, digital services, and other critical sectors as examples of UBA's commitment to supporting African development. The bank's involvement in various sectors has helped propel Africa's growth.
One notable example of UBA's successful project financing is a $6.56 million telecommunications modernization project in Chad, initiated in 2021 and completed in 2025, with the loan fully repaid. Alawuba pointed out that this project demonstrates how a clearly defined development need can move from financing to completion and repayment when the right structure and accountability are in place.
UBA has also provided a $45 million loan facility to Oak Asset SPV for road construction in Kenya. The bank's relationships extend beyond project financing to government collections and contractor facilities, creating banking support around the broader delivery chain. This approach has helped ensure the successful completion of projects and reinforced UBA's role in supporting African development.
Beyond physical infrastructure, Alawuba highlighted the role of digital finance in expanding opportunities across African markets. He cited Leo, UBA's digital banking platform, which serves over 6 million users in 20 African countries and processes more than 16 million transactions annually. The platform supports multiple languages, including English, French, Portuguese, and Swahili.
Alawuba noted that UBA's experiences across various markets, including Burkina Faso, the Democratic Republic of Congo, Ghana, Tanzania, and Liberia, reinforce the importance of African financial institutions being close to local markets while maintaining international connections required to mobilize capital and support cross-border investment.
Key points
- Oliver Alawuba emphasized the need for rigorous preparation and serious capital to translate Africa's development ambitions into tangible outcomes.
- UBA has provided financing for various projects across the continent, including telecommunications, energy, roads, and digital services.
- The bank's digital banking platform, Leo, serves over 6 million users in 20 African countries and processes over 16 million transactions annually.
