Business
UBA Set To Facilitate Infrastructure Projects In Africa
The Untied Bank for Africa Plc has stated that it has positioned itself to play a catalytic role in facilitating infrastructure projects across Africa.
This, according to the bank is exemplified by several deals on which the bank is acting as financial adviser, lead arranger and lender on the continent.
The director, infrastructure finance at UBA capital, Mr Wale Shonibare made this known at the recently concluded Public Private Partnership Africa Conference organised by Ametrade in collaboration with the African Development Bank (AFDB).
Mr Shonibare, who is a senior executive of the bank’s investment banking and capital markets subsidiary, said UBA capital has been working with public and private sector partners in structuring long term fuding solutions across key productive sectors like road and rail transportation, aviation, power, oil and gas, real estate, mining, telecoms and Information Technology.
Speaking on how to encourage investment in infrastructure with particular reference to transportation Mr Shonibare said funding can be obtained from local and international sources to bridge the current deficit that is prevalent in the continent. According to him there exists a direct correlation between increase in infrastructure development and economic growth as has been seen in countries like China and India.