Group Managing Director and Chief Executive Officer of United Bank for Africa (UBA) Plc, Oliver Alawuba, has emphasized the need for increased investment in bankable projects in Africa. Speaking at the Forward Africa Leaders Symposium in New York, Alawuba called for a greater focus on turning Africa's vast opportunities into investable projects. He stressed that Africa's opportunities deserve rigorous preparation and serious capital, and that projects must be commercially sustainable and supported by institutions capable of delivering on their commitments.
Alawuba highlighted UBA's role in connecting African enterprise with capital, expertise, and financial infrastructure. He cited projects across telecommunications, energy, roads, digital services, and other critical sectors. In Chad, for instance, UBA financed a $6.56 million telecommunications modernization project initiated in 2021, which was completed in 2025 and the loan fully repaid. 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 consistently remained instrumental in propelling Africa's growth, as evidenced in 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 experience reinforces the importance of African financial institutions being close enough to understand local markets while maintaining the international connections required to mobilize capital and support cross-border investment.
Beyond physical infrastructure, Alawuba highlighted the role of digital finance in expanding opportunities across African markets. He pointed to Leo, UBA's digital banking platform, which now serves more than six million users across 20 African countries and processes over 16 million transactions annually. Leo supports English, French, Portuguese, and Swahili, and UBA continues to take the lead with innovation, demonstrating how digital services can help bridge language and market barriers.
Alawuba also pointed to UBA's financing activities across markets, including Burkina Faso, the Democratic Republic of Congo, Ghana, Tanzania, and Liberia. These experiences demonstrate the different ways commercial banking can support African development, ranging from direct lending and syndicated financing to guarantees, contractor facilities, and banking services supporting project operations. UBA's commitment to African development is further evidenced by its role in championing financial inclusion, innovation, and sustainable development across its markets.
United Bank for Africa is one of Africa's largest financial institutions, serving over 45 million customers globally. Operating in 20 African countries, as well as the United Kingdom, the United States, France, and the United Arab Emirates, UBA provides retail, commercial, and institutional banking services. Alawuba urged stakeholders to focus on preparing and de-risking a selected pipeline of viable projects, while ensuring that execution capability is built into each investment.
Alawuba concluded by emphasizing the importance of African financial institutions being close enough to understand local markets while maintaining international connections. He noted that UBA brings the conviction that African enterprise belongs at the center of Africa's transformation, supported by strong institutions and productive global partnerships. With its extensive network and commitment to African development, UBA is well-positioned to support the continent's growth and transformation.
Key points
- Oliver Alawuba calls for greater focus on turning Africa's vast opportunities into investable projects.
- UBA has financed several projects across Africa, including a $6.56 million telecommunications modernization project in Chad and a $45 million loan facility for road construction in Kenya.
- UBA's digital banking platform, Leo, serves over six million users across 20 African countries and processes over 16 million transactions annually.
