The president of the United Bank for Africa (UBA) group, Tony Elumelu, expressed his willingness to support Mozambique's economic agenda through investments in key sectors of the economy, such as energy, agriculture, tourism and infrastructure.

Elumelu was speaking in Maputo during an audience granted to him by the President of the Republic, Daniel Chapo.

On the occasion, Elumelu emphasized the need for Africa to take advantage of its abundant natural resources, its dynamic young population and its growing internal capital in order to accelerate inclusive development.

In a UBA press release quoted by AIM, Elumelu spoke of the importance of collaboration between the government and the private sector as a way of unlocking the continent's full potential.

“Africa's progress will be defined by our ability to build on our strengths, invest strategically and develop local solutions that transform lives and economies,” the statement said.

In his speech, according to the note, Chapo praised the UBA's longstanding commitment to advancing financial inclusion and private sector growth across Africa, highlighting the progress the country has made in critical sectors including energy, agriculture and tourism.

The Head of State expressed his optimism in deepening collaboration with the UBA, to strengthen critical sectors, and welcomed the bank's initiative to be able to support Mozambique's economic development.

The visit to Mozambique, which reaffirms the UBA's dedication to the sustainable development of the African continent, is also part of Elumelu's ongoing pan-African tour, which aims to promote stronger economic collaborations.

The visit to Mozambique follows Elumelu's recent engagements with the presidents of Kenya, WillIam Ruto; and Zambia, Hakainde Hichilema, which reinforce the UBA group's strategic commitment to cultivating strong government partnerships, empowering subsidiaries and deepening investment in Africa's most promising economies.

Created in 1948, but as a Group in 2005, UBA is an affiliate of UBA Mozambique, which continues to expand its presence and strengthen its position as a key partner in the country's development.