September 24, 2024
By InvestAdvocate
New York (INVESTADVOCATE)-Africa’s Global lender, United Bank for Africa (UBA) Plc on Tuesday hosted Ngozi Okonjo- Iweala, Director General (DG) World Trade Organisation (WTO), Aliko Dangote, Africa’s Richest Person and Founder, Dangote Group and other Business Leaders at the Bank’s celebration of collaboration, culture and innovation on the sidelines of the United Nations General Assembly (UNGA) Meetings in New York, United States.
Tony Elumelu, Business Leader and Chairman of UBA told InvestAdvocate the UNGA 79 Cocktail was organised as a networking event to spotlight investment opportunities on the continent as the Bank celebrates its 75th anniversary of dedication, innovations, and partnerships as it continues to provide solutions to over 45 million customers worldwide. UBA also celebrated the Group’s 40 years of operations in the United States.
The Chairman of UBA had earlier in a Statement said nowhere else in the world can offer the kind of reward on investment as in Africa. “I have often said that there is nowhere else in the world you can reap the kind of investments as in Africa,” he said.
According to him, he’s aware of the fundamental challenges the African continent faces. However, I am acutely aware of the fundamental challenges our continent faces.
“Addressing the issues of sustainable economic growth, youth unemployment, gender inequality, and Africa’s energy transition is critical not only for meeting the continent’s basic developmental needs but also for achieving the Sustainable Development Goals and unlocking the immense economic potential that Africa offers,” the Entrepreneur and founder of The Tony Elumelu Foundation (TEF) added.
Oliver Alawuba, Group CEO/Managing Director of UBA on his part said the Bank’s 75th anniversary coincides with its 40 years celebration of UBA America, ” we are not only celebrating the 75th anniversary of the UBA brand; but also we are 40 years here in America,” he added.
Alawuba said UBA America is committed to strengthening the economic and cultural ties between Africa and the US.
The UBA Group CEO said the success story of Africa’s Global Bank this 75 years is a testament to its vision and determination which deserves commendation, Alawuba affirmed.
Though both Elumelu and Alawuba declined to speak to InvestAdvocate on the proposed Rights Issue, the Bank had earlier in May 2024 at its Annual General Meeting said it was going to shore up its capital base to N22.5 billion by offering to investors 10,800,578,634 new shares.
At the close of trading on Tuesday at the Nigerian bourse shares of the Bank grew 4.53 percent to N25.40 from N24.30 as investors gained N1.10 kobo per share.
