United Bank for Africa (UBA) Plc has donated $500,000 to the African Union (AU) Peace Fund as part of its commitment to fostering peace and stability across Africa.
This donation by the UBA Group supports the AU’s efforts to promote security, conflict resolution, sustainable development, and a unified Africa, as envisioned in the AU’s Africa Agenda 2063.
Commenting, the Executive Management Committee AU Peace Fund Chairman, Moussa Faki Mahamat, stated that “peace is synonymous with resources. If we want development and stability, we must achieve peace; the United Bank for Africa has demonstrated its commitment to the development of our continent by this commitment, through sustainable resources. Together, we will continue to build a continent for the future.
UBA’s group chairman, Tony Elumelu, who announced the donation in Addis Ababa, Ethiopia, highlighted the reasons behind the UBA Group’s support for the AU.
According to him, the role of corporate institutions in shaping Africa’s future cannot be overemphasised. He added that by investing in peace and security, UBA is contributing to an environment where businesses, communities, and nations can thrive, driving sustainable development and economic prosperity for all.
“UBA is committed to advancing sustainable development, uplifting the quality of life across Africa and the vital connection between economic growth for Africans and African businesses and the stability provided by peace and security.”
With a presence in over 20 countries in Africa, UBA strongly believes in the continent’s potential; Elumelu pointed out that “development will come with peace, and every individual, organisation and business should be committed to achieving this.”
The UBA Chairman commended the African Union for its steadfast dedication to promoting peace and security across Africa, saying that the UBA Group is honoured to partner with the AU in this noble endeavour while seeking deeper collaboration between the two institutions.
The AU Peace Fund provides financing mediation and preventive diplomacy efforts across Africa, strengthening institutional capacity and ensuring rapid responses to emerging conflicts.
UBA’s support underscores its dedication to the collective progress of African nations, reinforcing the UBA Group’s long-standing belief that economic growth and regional stability go hand in hand.
Over the years, UBA Group’s commitment to the growth and stability of the continent has been unwavering, including the UBA Foundation’sFoundation’s contribution of $14 million to catalyse a comprehensive Pan-African response to the fight against the coronavirus (COVID-19) global pandemic.
The donation provided significant and much-needed support to Nigeria and 19 other African countries by supplying relief materials, critical care facilities, and financial support to governments.
The African Union Peace Fund (AUPF) is a financial mechanism established by the African Union to support peace and security initiatives across the continent, primarily focused on conflict prevention, mediation, and peace-building operations through funding allocated to various peace support activities across Africa, including institutional capacity building and peace support operations; it is considered a key pillar of the African Peace and Security Architecture (APSA).
