UBA Africa Ready to Extend Support in Closing the Continent’s Infrastructure Deficit

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UBA Africa Ready to Extend Support in Closing the Continent's Infrastructure Deficit

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UBA Africa Ready to Extend Support in Closing the Continent’s Infrastructure Deficit

Executive Director and CEO, UBA Africa, Abiola Bawuah, has expressed the bank’s willingness to partner with governments and other entities to drive Africa’s development agenda with regards to closing the infrastructure gap on the continent.

While stressing the importance of collaboration among all financial stakeholders towards pooling funds for Africa’s development, she highlighted UBA’s contribution to infrastructure development over the years in Africa, including Ghana. 

Speaking as a panel member during discussion on infrastructure development in Africa, at the launch of the 2025 Africa Prosperity Dialogue, Mrs Bawuah highlighted the presence of regional, commercial, and development banks in Africa which, according to her, could offer the needed support for infrastructure financing to propel growth in Africa. 

The panel discussion also featured prominent personalities including the Group CEO of Telecel, Moh Damush, Director-General of SSNIT, Kofi Bosompem Osafo-Marfo, and Minister for Railway Development in Ghana, John Peter Amewu.

She also emphasised the need for sustainable funding mechanisms, adding, “Our quest for good infrastructure like roads, railways, telecoms, etc. must be paid for, and therefore we must demonstrate the ability to pay for the funding,” she stated as she cited UBA’s financing of a $300 million road project in southern Africa, which is sustained through tolling mechanisms.

Funding costs

Mrs Bawuah also called for dialogues aimed at reducing funding costs to make lending more viable for banks and urged the African Prosperity Network (APN) to convene discussions between banks, the Bank of Ghana, the Business Community, and other stakeholders to achieve this goal.

The Executive Director also advocated for a review of stock exchanges in Africa, noting their underperformance and suggesting improvements to better support infrastructure development initiatives across Africa with long term funds.

In a bid to address the critical need for infrastructure development across the continent, Mrs Bawuah, further mentioned the need for secure funding and the forging strategic partnerships.

While acknowledging the pivotal role that infrastructure plays in driving economic growth and enhancing livelihoods on the continent, she underscored the urgency for concerted efforts to address the continent’s infrastructure deficit.

Keynote

United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than thirty-five (35) million customers, across 1,000 business offices and customer touch points in 20 African countries. 

With presence in New York, London, Paris and Dubai, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and ancillary banking services.

Source: Graphic.com.gh

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