Executive Chairman of United Bank for Africa (UBA) Group, Tony Elumelu, has reaffirmed the financial institution’s firm commitment to supporting Ghana’s economic recovery.
According to Mr Elumelu, UBA has a history of providing financial backing to Ghana and intends to extend even greater support in the current economic climate, as well as to other key sectors of the economy.
“There was a time that we handed over a billion dollars to Ghana, and we definitely want to do more going forward,” Mr. Elumelu revealed.
He made these remarks in an interview with Joy Business’ George Wiafe in Washington, D.C., following the UBA Group’s launch of its White Paper initiative.
The Founder of Heirs Holdings and Transcorp PLC noted that Ghana’s leadership role in the sub-region makes it a strategic partner for UBA.
“We want to be Ghana’s partner, especially when it comes to economic development, and that is a must,” he added.
Mr Elumelu further disclosed plans for closer collaboration with the Bank of Ghana on regulatory and financial intermediation issues, commending the new leadership of the central bank and President John Mahama.
Tony Elumelu on UBA Ghana
Mr Elumelu explained that UBA has made key executive leadership appointments in Ghana as part of a broader transformation agenda.
“Transformation must start from within, and that is why these changes have taken place — to support Ghana’s growth and to take the market by storm,” he stated.
He emphasised that UBA’s strategy is focused on positioning the bank as a leading player in Ghana’s financial landscape while supporting small and medium-sized enterprises (SMEs) and other businesses.
Global Expansion and Africa’s Development
The UBA Group Chairman also stressed the need to address Africa’s infrastructure deficit, particularly in power generation, an area where UBA hopes to play a leading role in collaboration with governments.
“This is the reason why at UBA we launched the groundbreaking White Paper, Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth, which should help address some of these challenges on the continent,” he explained.
The White Paper provides a comprehensive roadmap for accelerating Africa’s progress through innovative financial solutions, policy reforms, and strategic partnerships.
It offers an actionable blueprint to harness Africa’s economic potential, focusing on trade facilitation, infrastructure development, digital innovation, climate finance, and inclusive growth.
Mr. Elumelu concluded that implementing these measures will be vital to tackling the continent’s long-term economic challenges and unlocking Africa’s full growth potential.