The United Bank for Africa (UBA) is preparing to strengthen its role in the transformation of the African continent's financial ecosystem with the launch of its historic white paper, Global African Banking takes a decisive step to strengthen development and innovation in the continent's financial ecosystem..

The white paper, entitled "Betting on Africa's future: Unlocking capital and partnerships for sustainable growth", was launched on Thursday (17) on the sidelines of the Annual Meetings of the World Bank and the International Monetary Fund (IMF) in Washington, D.C., putting Africa's economic agenda at the center of global financial discussions.

According to UBA, the document presents a comprehensive and achievable framework for unlocking Africa's vast economic potential, providing an analysis of the critical pillars of growth, including trade facilitation, infrastructure development, digital innovation, climate finance and inclusive growth, while presenting strategies for leveraging national capital alongside strategic global partnerships to access the potential of the continent's $3.4 trillion single market under the African Continental Free Trade Area (AfCFTA).

On the occasion, UBA Group President Tony Elumelu, who emphasized the strategic importance of this white paper, explained that in recent years the bank has become an active leader in conversations and activities that drive tangible investments on the continent.

"The United Bank for Africa is transforming Africa's development agenda from words into action. With this white paper, we are championing initiatives that turn strategic dialog into profitable projects and direct investments. Our commitment to executing these plans for the benefit of the continent and its people cannot be underestimated," said Elumelu.

For his part, the managing director and CEO of the UBA Group, Oliver Alawuba, highlighted "the urgent need for leadership from the private sector".

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with more than 25,000 employees across the group and serving more than 45 million customers worldwide.

(Photo DR)