United Bank for Africa (UBA) Plc has reaffirmed its commitment to driving sustainable growth across the continent with the official launch of its White Paper titled “Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth.”
Unveiled in Washington DC on the sidelines of the IMF and World Bank Annual Meetings, the document presents a roadmap to unlock over $4 trillion in Africa’s domestic financial assets — including $2.5 trillion in commercial bank assets and $1.1 trillion in long-term institutional capital — while leveraging the $3.4 trillion potential of the African Continental Free Trade Area (AfCFTA).
The White Paper aims to accelerate Africa’s economic transformation through innovative financing, strategic partnerships, and policy reforms. It outlines actionable strategies for boosting trade, infrastructure, digital innovation, climate finance, and inclusive growth, positioning Africa’s development priorities at the forefront of global financial discussions.
UBA Group Chairman Tony Elumelu described the launch as a defining moment for the continent.
> “Africa stands at a transformational crossroads, rich in resilience and potential. With this White Paper, UBA champions Africapitalism—empowering our private sector to drive growth, create jobs, and deliver social wealth,” he said.
Elumelu, who also chairs Heirs Holdings, emphasised that the report calls for mobilising local and global investors to bridge capital gaps, de-risk investments, and promote self-sustained economic sovereignty across Africa.
UBA Group Managing Director and CEO, Oliver Alawuba, highlighted that the initiative represents a shift from “aid dependency to investment-driven growth,” noting that UBA’s local expertise and global reach make it uniquely positioned to connect capital with opportunities.
> “We urge global financial leaders to partner with us in deploying agile solutions — from digital platforms to blended finance — that can transform challenges into opportunities and drive resilient, inclusive growth. Africa’s time is now,” he said.
UBA, one of Africa’s largest financial institutions, operates in 20 African countries and key global financial hubs, serving over 45 million customers. The bank continues to champion financial inclusion, innovation, and investment partnerships that strengthen Africa’s position in the global economy.
