United Bank for Africa (UBA) Plc, renowned as Africa’s global bank, has launched its groundbreaking White Paper titled “Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth.” Unveiled on the sidelines of the International Monetary Fund (IMF) and World Bank Annual Meetings in Washington, this report outlines a comprehensive roadmap designed to accelerate Africa’s progress through innovative financial solutions, essential policy reforms, and strategic partnerships. The initiative aims to elevate Africa's economic priorities to the forefront of international financial conversations.

The white paper provides a detailed, actionable blueprint to harness Africa's significant economic opportunities. It thoroughly examines crucial growth areas, including trade facilitation, infrastructure development, digital innovation, climate finance, and inclusive growth. A central tenet of the report is the advocacy for integrating domestic capital with strategic global alliances, projecting the unlocking of an estimated $4 trillion in Africa's domestic financial assets. This comprises $2.5 trillion in commercial bank assets and over $1.1 trillion in long-term institutional capital, all while capitalizing on the $3.4 trillion potential of the African Continental Free Trade Area (AfCFTA) single market.

For Africa, this white paper represents a pivotal advancement in financial infrastructure and economic empowerment. It directly addresses longstanding challenges such as limited access to capital and underdeveloped partnerships, proposing robust solutions intended to accelerate sustainable development across the entire continent.

UBA’s Group Chairman, Tony Elumelu, delivered a bold vision for Africa’s future at the launch. He emphasized that “Africa stands at a transformational crossroads, rich in resilience, creativity, and untapped potential.” Elumelu, who is also the founder of Heirs Holding Group and the champion of the Africapitalism concept, stated that through this white paper, UBA champions Africapitalism, empowering the private sector to drive sustainable growth that delivers prosperity and social wealth. He further added that by focusing on inclusive growth and digital innovation, the report is poised to enhance financial inclusion for millions, bolster vital infrastructure projects, and drive climate-resilient initiatives. Ultimately, these efforts aim to foster job creation, reduce poverty, and strengthen regional integration under the AfCFTA.

In the global finance arena, the unveiling of this white paper underscores Africa's rising prominence as a key player in the world economy. It serves as an invitation to international investors, institutions, and policymakers to engage more deeply with African markets, highlighting mutually beneficial opportunities for capital flows and collaborations. Elumelu noted that this will contribute to reshaping global investment strategies, encouraging a shift toward emerging markets and promoting diversified portfolios that include African assets, thereby contributing to more balanced global economic growth. He urged investors, both across Africa and globally, to join UBA in mobilizing Africa's $4 trillion domestic capital alongside strategic partnerships to bridge opportunities, de-risk investments, and build a self-determined future, declaring that “the era of action is upon us; let us seize it together for Africa's economic sovereignty.”

UBA’s Group Managing Director and Chief Executive Officer, Oliver Alawuba, elaborated on the white paper's significance, pointing out that it redefines development finance by shifting from aid dependency to investment highways powered by African innovation. Alawuba stated, “UBA, with our deep local knowledge and global reach, is uniquely positioned to unlock capital flows and foster collaborations that transform challenges into opportunities.” He called on financial leaders worldwide to partner with UBA to deploy agile solutions, from digital platforms to blended finance, and co-create resilient growth that benefits millions, asserting, “Africa's time is now; commit today to be part of this revolutionary journey.”

United Bank for Africa stands as one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide, serving over 45 million customers globally.