UBA Leads African Economic Dialogue with New White Paper at IMF Meetings
Africa’s leading global bank, United Bank for Africa (UBA) Plc, has once again demonstrated its commitment to driving sustainable growth and economic transformation on the continent with the official launch of its groundbreaking white paper, “Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth.”
Released Thursday in Washington, D.C., on the sidelines of the International Monetary Fund (IMF) and World Bank Annual Meetings, the report offers a comprehensive roadmap to accelerate Africa’s progress through innovative financial solutions, policy reforms, and strategic partnerships, placing Africa’s economic priorities at the heart of international financial discussions.
This white paper offers a detailed and concrete plan to harness Africa’s tremendous economic opportunities, while examining key growth areas, including trade facilitation, infrastructure development, digital innovation, climate finance, and inclusive growth.
By advocating for the integration of domestic capital into global strategic alliances, the document aims to unlock approximately $4 trillion of African domestic financial assets, including $2.5 trillion in commercial banking assets and over $1.1 trillion in long-term institutional capital, while harnessing the $3.4 trillion potential of the African Continental Free Trade Area (AfCFTA) single market.
For Africa, this white paper represents a breakthrough in financial infrastructure and economic empowerment. It addresses long-standing challenges, such as limited access to capital and underdeveloped partnerships, and proposes solutions that can accelerate sustainable development on the continent.
UBA Group Chairman Tony Elumelu, who presented a bold vision for the continent’s future at the launch, said: “Africa is at a transformative crossroads, rich in resilience, creativity, and untapped potential. With this white paper, UBA champions Africapitalism, empowering our private sector to drive sustainable growth that generates prosperity and social wealth.” Elumelu, also founder of Heirs Holding Group and a strong advocate of the concept of Africapitalism, added that by emphasizing inclusive growth and digital innovation, the report promises to improve financial inclusion for millions of people, support infrastructure projects, and promote climate-resilient initiatives, thereby fostering job creation, poverty reduction, and regional integration within the framework of the AfCFTA.
On the global financial front, this publication also highlights Africa’s growing importance as a key player in the global economy. International investors, institutions, and policymakers are encouraged to deepen their engagement with African markets, highlighting mutually beneficial opportunities for capital flows and collaboration.
This, he emphasized, will help reshape global investment strategies, encourage a shift toward emerging markets, and promote diversified portfolios that include African assets, thereby contributing to more balanced global economic growth.
Tony Elumelu explained that with this white paper, UBA is championing Africapitalism, enabling our private sector to drive sustainable growth that generates prosperity and social wealth. He added: “To investors in Africa and around the world: join us in mobilizing our $4 trillion of domestic capital and building strategic partnerships to seize opportunities, reduce investment risks, and build a self-determined future. The time for action is now; let us seize it together for Africa’s economic sovereignty.”
The white paper is now available for download at https://www.ubagroup.com/white-paper/
UBA Group Chief Executive Officer Oliver Alawuba also commented on the white paper, emphasizing that it redefines development financing, shifting from aid dependency to investment highways powered by African innovation.
“UBA, with its deep local market knowledge and global presence, is ideally positioned to unlock capital flows and foster collaborations that transform challenges into opportunities. We invite financial leaders around the world to collaborate with us to deploy agile solutions, from digital platforms to blended finance, and co-create resilient growth that benefits millions of people. Africa is now its time to shine; commit today to being part of this revolution,” he said.
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees across the group and serving more than 45 million customers worldwide. Present in 20 African countries, the United Kingdom, the United States, France, and the United Arab Emirates, UBA offers retail, commercial, and institutional banking services, promoting financial inclusion and implementing cutting-edge technology.
