UBA Invests $5bn In Infrastructure Dev


United Bank for Africa (UBA) Plc says it has invested more than five billion dollars to support infrastructure development across the African continent in the last seven years.
The Chief Executive Officer, Anglophone UBA Group, Mr Oliver Alawuba, stated this at the 2017 Tony Elumelu Foundation (TEF) African Journalism Fellowship and 3rd Annual TEF Entrepreneurship Forum in Lagos.
Alawuba said that the investment in the last five to seven years, which cut across African countries where the bank exists, were in electricity, power generation, road construction and rehabilitation.
He said that some of the countries where the funds were invested include Senegal, Cote d’Ivoire, DR Congo, Benin Republic and Nigeria.
Alawuba said that over 500 million dollars had been invested in the power sector to touch the lives of the citizens.
He stated that the bank was committed to African development and would continue to support infrastructure development.
“We see ourselves as a development partner in Africa and development is critical to Africa.
“Most African countries are at different stages of development and evolution; we need infrastructure. Our economies will be helped by more inter-African trade,” Alawuba said.
The Chief Executive Officer, Francophone UBA Group, Mr Emeke Iweriebor,  said that the company was interested in African development.
“We are interested in African development, our passion in UBA is how we can develop Africa in line with our chairman’s vision using Africa capitalism,” Iweriebor said.