Oliver Alawuba, the group managing director/chief executive officer of United Bank for Africa (UBA), says the bank has been strategic in financing critical projects across African countries for developmental purposes and other continents more broadly.
He hinted at this while delivering a keynote speech at the UAE-Chad Trade & Investment Forum in Abu Dhabi, United Arab Emirates (UAE), on Monday, November 10.
In his address, themed ‘Financing African Competitiveness – Building Bridges, Powering Progress’, Alawuba said across the group’s network in 20 African countries and global financial centres, including the UAE (Dubai), New York, London, and Paris, UBA has been structuring deals that de-risk investment and unlock capital at scale.
“In Tanzania, we committed over $400 million to the Julius Nyerere Hydropower Project, a testament to our capacity for large-scale energy infrastructure.
“In Nigeria, we have invested over $700 million in the power sector post-privatisation and participated in the landmark $10 billion syndication for the Dangote Refinery.
“In Ghana, we financed $315 million in road infrastructure, understanding that connectivity is the lifeblood of trade,” Alawuba stated.
He said, for too long, the narrative around Africa has been one of potential, but that the era has changed to that of execution, and what is being witnessed in Chad is a masterclass in how to make the shift.
“The $30 billion Chad Connection 2030 plan is not just a document; it is a declaration of intent. It is a detailed roadmap to move a nation from the periphery to the very heart of global economic competitiveness.
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“With its 268 projects targeting infrastructure, industrialisation, and human development, it understands a fundamental truth: competitiveness is not born in boardrooms; it is built on the ground,” Alawuba told the audience.
He explained that financing the future means understanding that a reliable power grid is the foundation of industrial growth, stressing that Chad’s target of 60 per cent electrification by 2030 will enable factories to operate, cold chains for agriculture to function, and the digital economy to flourish.
It also means recognising that water access for 11 million additional people drives economic transformation, pointing out that safe water reduces healthcare burdens, enables food processing industries, and unlocks agricultural productivity across the value chain.
“It means seeing the strategic value in infrastructure. When we finance a road, we finance market access. When we structure a PPP for renewable energy, we finance both climate resilience and energy independence. When we support digital payment systems, we create the foundation for inclusive economic growth,” Alawuba said.
For him, financing the future is built with governance that assures an investor that their capital is safe and their project will be seen through.
He stressed that the answer to financing the future lies not in a single source, but in a powerful, collaborative model.
“A model where African financial institutions like UBA step up not as mere intermediaries, but as architects of finance.
“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 said.
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He said further that UBA sees Chad’s 60 per cent target in electrification, water for 11 million people, and doubling of agricultural production as a portfolio of bankable projects that are surmountable.
“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.
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“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 modernisation,” Alawuba stated.
He noted that the bank’s footprint in planting its branches across the African continent is 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.
“At UBA, we are not just accepting that invitation; we are already rolling up our sleeves. We are here to be the financial engine, the trusted partner, and the bridge that connects visionary plans to tangible reality.
“As we open this panel, let us remember that financing African competitiveness is not an act of charity. It is the smartest investment we can make in a future of shared prosperity,” Alawuba maintained.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
