The Group chairman of United Bank for Africa (UBA) Plc, Tony Elumelu, has embarked on a high-level engagement tour across East, Central, and Southern Africa, deepening strategic alliances with governments and private-sector leaders dedicated to the continent’s economic growth.
As part of this extensive tour across East, Central, and Southern Africa, Elumelu, who also chairs Heirs Holdings, the leading pan-African investment group, met with the Presidents of Kenya, Zambia, Mozambique, the Republic of the Congo (Brazzaville), and Rwanda.
The various visitation and engagements reinforces UBA’s commitment to bolstering national development agendas, expanding investment opportunities, and partnering with both public and private sectors to accelerate sustainable economic transformation across the continent.
In Kenya, Elumelu led UBA’s delegation to the State House in Nairobi, where President William Ruto warmly received them. Discussions focused on deepening collaboration in infrastructure, energy, and economic empowerment.
President Ruto commended UBA for its pivotal role in the $1 billion Road Infrastructure Securitisation Programme, in which the bank committed $150 million to support national projects and enhance regional trade within the East African Community.
Ruto also expressed readiness to work closely with UBA on transformative initiatives in transport, water, food security, and energy. In response, Elumelu reiterated UBA’s long-term commitment to Kenya, pledging increased investments in energy, hospitality, real estate, and financial services, adding that, “UBA is not just a bank; we are a development partner. Kenya’s innovation and youthful energy make it one of Africa’s most exciting markets,” he stated.
In Zambia, Elumelu met with President Hakainde Hichilema at State House, Lusaka, where discussions centred on energy, food security, and entrepreneurship. Elumelu highlighted the impact of the Tony Elumelu Foundation in Zambia, noting that over 350 Zambian entrepreneurs have benefitted from the TEF Entrepreneurship Programme, each receiving $5,000 in seed capital and collectively creating more than 16,000 jobs.
“The growth of Zambia and Africa must be driven by African institutions and African leadership. No one but us will develop Africa,” Elumelu said.
He also announced UBA’s readiness to support Zambia’s national energy expansion plans, leveraging the Group’s expertise through Heirs Holdings and Transcorp Power, which collectively supply about 40% of Nigeria’s electricity and export to neighbouring countries.
President Hichilema lauded UBA’s contribution to Zambia’s economic advancement and welcomed further collaboration in energy, mining, and agriculture, emphasising that “the success of UBA is our success.”
Elumelu’s next stop was a visit to Mozambique, where he met with President Daniel Chapo in Maputo. Here, discussions focused on expanding UBA’s presence and supporting the country’s development agenda through strategic investments in energy, agriculture, tourism, and infrastructure. He emphasised the importance of public-private sector collaboration in accelerating growth and financial inclusion.
President Chapo commended UBA’s commitment to driving Mozambique’s economic progress, noting that such partnerships are essential to achieving the nation’s long-term growth objectives.
From Mozambique, the chairman moved to Congo Brazzaville, where he was warmly received by the President of the Republic of Congo, His Excellency Denis Sassou-Nguesso.
Their discussions and engagements centred on UBA’s strategic role in the country amidst plans to deepen its presence across Central Africa, with UBA Congo Brazzaville as a key hub.
Elumelu pledged the construction of a new head office that will serve as the bank’s regional headquarters for Central Africa while reiterating the bank’s readiness to deploy its innovative platforms, solutions, and local expertise to drive financial inclusion, revenue mobilisation, and infrastructure development.
In the Republic of Rwanda and the Democratic Republic of Congo DRC, TOE also engaged in closed-door meetings with the Presidents at the state house.
The chairman’s visits to Kenya, Zambia, Mozambique, Congo Brazzaville, Rwanda and Congo DRC reaffirm UBA’s mission as Africa’s Global Bank, empowering economies, deepening trade, and fostering inclusive prosperity. Through strategic investments and the transformative impact of the Tony Elumelu Foundation, UBA continues to champion innovation, entrepreneurship, and sustainable development across Africa.
