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UBA reaffirms commitment to driving African economic growth

ECOWAS and UBA Africa key stakeholders at ECOMOF 2024. (Image source: UBA Group)

United Bank for Africa (UBA) has stated that is remains committed to encouraging the economic growth of the continent and is set to partner with the Economic Community of West African States (ECOWAS) towards implementing strategic initiatives

Abiola Bawuah, CEO of UBA Africa, recently spoke at the 4th ECOWAS Mining and Petroleum Forum where they reaffirmed the organisation’s conviction. This event saw a large gathering of stakeholders in the mining and petroleum sectors – areas widely recognised as fundamentally key to the continent’s continued development. 

Bawuah remarked, “At UBA, we recognise the pivotal role that the mining and oil sectors play in shaping the economic landscape of ECOWAS member states and so, this ECOMOF 2024 Conference has provided us with a strategic platform to reaffirm our commitment to fostering economic growth in the region.”

They continued that by developing and advocating investor-friendly policies by the sovereigns and financial intermediation and supports provided by UBA, the mining sector could be transformed into pillars that would contribute substantially to gross domestic products. 

“We believe that through collaborative efforts and sound financial strategies, we can propel the mining and oil industries towards sustainable development, unlocking their full potential for the benefit of the entire region,” they added.

Encouraging sustainable growth

Also attending the conference was Ebele Ogbue, head of corporate and energy bank at UBA, who highlighted the pivotal role of national oil and gas companies in advancing the development of the industry’s value chain; the significance of good corporate governance in ensuring sustainable growth of such companies; and the need for robust collaboration among ECOWAS countries. 

He further expressed how the UBA Group is remains staunchly committed to providing strategic financial solutions that will empower oil and gas companies to drive sustainable development. UBA's company statement expressed how the bank's support for ECOMOF is evident of not only its support to the mining and petroleum industries of the continent, but indeed of its wider economic growth.