Onome Amuge
United Bank for Africa (UBA) is preparing to use the UN General Assembly in New York this week to reposition Africa in the eyes of investors and policymakers, seeking to highlight the continent as a driver of global prosperity rather than a passive recipient of aid.
UBA, which operates in 20 African countries and several international financial centres, is set to convene a series of high-level engagements during the 80th session of the General Assembly running from September 15–25. The centrepiece will be the launch of a white paper outlining actionable strategies for unlocking capital and building partnerships to accelerate sustainable growth across Africa.
The document, Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth, is regarded as the first of its kind by an African bank at UNGA. It sets out proposals spanning trade, infrastructure, digital innovation, climate finance and inclusive growth, according to executives.
Tony Elumelu, UBA’s group chairman, explained that the initiative was designed to move discussions about Africa away from rhetoric and towards feasible and actionable decisions that deliver results. “The UN General Assembly is the largest and most official gathering of world leaders, and we cannot let such an opportunity pass without major African players like UBA taking centre stage to showcase Africa’s potential,” he said.
Africa’s economic narrative has long been dominated by aid dependency and vulnerability to external shocks. UBA’s intervention at UNGA is considered an attempt to recast that story, presenting the continent as a partner offering opportunities in renewable energy, agriculture, fintech and infrastructure that are integral to the global economy’s long-term resilience.
Oliver Alawuba, UBA’s group chief executive, said the white paper was also a call for private organisations to demonstrate concrete action and proven capabilities in addressing development challenges. “We need to go beyond declarations of intent. Private capital, technology and know-how have to be mobilised at scale, and UBA is demonstrating that commitment by leading from the front,” he said.
UBA’s programme during UNGA will include a roundtable hosted by its U.S. subsidiary, UBA America, in partnership with the Business Council for International Understanding, a New York-based organisation that drives dialogue between global business and policymakers. The bank will also hold its annual UBA Reception, which has become a fixture for African leaders and private sector executives on the sidelines of the UN gathering.
These engagements, the bank says, are designed to move beyond symbolism and generate concrete commitments. In previous years, UBA has used such fora to broker discussions on infrastructure financing and financial inclusion, and it now aims to translate dialogue into projects that can be executed on the ground.
With 25,000 employees and more than 45 million customers, UBA is one of Africa’s largest financial institutions and among the few with a genuine global footprint, with operations in London, Paris, Dubai and New York. Its executives argue that African corporations must increasingly take ownership of the continent’s development agenda, complementing the efforts of governments and multilateral lenders.
“Private capital can move faster and with more flexibility than public programmes,” Elumelu said, noting that UBA had already committed significant resources to financing SMEs and renewable energy ventures across its markets.
