Connect with us

Business

ECOMOF 2024: UBA Affirms Pledge to Stimulate African Economic Expansion through Strategic Supports for Mining and Oil Sectors

Published

on

ECOMOF 2024: UBA Affirms Pledge to Stimulate African Economic Expansion through Strategic Supports for Mining and Oil Sectors

ECOMOF 2024: UBA Affirms Pledge to Stimulate African Economic Expansion through Strategic Supports for Mining and Oil Sectors

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has reaffirmed its unwavering commitment to spearheading economic growth across the continent through targeted policies aimed at maximizing the benefits derived from the mining and oil sectors.

To this end, the bank is poised to collaborate with the Economic Community of West African States (ECOWAS) towards implementing strategic initiatives that will not only attract investment but also foster sustainable development in the mining and oil sectors.

The Chief Executive Officer of UBA Africa, Abiola Bawuah, who spoke at the just concluded 4th ECOWAS Mining and Petroleum Forum (ECOMOF 2024), which was held at the Palais des Congrès in Cotonou, Benin Republic, said the bank recognises the pivotal role of the mining and oil sectors in shaping the economic landscape of African nations and is strategically positioning itself to be at the forefront of this transformation.

“At UBA, we recognize the pivotal role that the mining and oil sectors play in shaping the economic landscape of ECOWAS member states, and so, this ECOMOF 2024 Conference has provided us with a strategic platform to reaffirm our commitment to fostering economic growth in the region,” she noted.
According to her, by formulating and advocating investor-friendly policies by the sovereigns and financial intermediation and supports provided by UBA, the mining sector would be catalysed and transformed into robust economic pillars contributing substantially to the country’s gross domestic products.

“We believe that through collaborative efforts and sound financial strategies, we can propel the mining and oil industries towards sustainable development, unlocking their full potential for the benefit of the entire region,” she added.
The ECOMOF 2024 conference, with the theme “Geo-extractive Resources and Technologies: Pooling Strategies to Create Added Value in West Africa,” saw a large gathering of key players and stakeholders in the mining and petroleum sectors who gathered to brainstorm on the need to transform the mining and oil sectors into economic pillars by formulating attractive policies for investors, essential for the sectors’ substantial contribution to the development of ECOWAS member states.

As a leading African financial institution with a presence in 20 African countries, UBA has consistently played a crucial role in driving such discourse around economic growth and supporting major continental development projects.

The Head of the Corporate and Energy Bank at UBA, Ebele Ogbue, who was also a panellist during the session, highlighted the pivotal role of national oil and gas companies in advancing the development of the oil and gas industry’s value chain.

He emphasized the significance of good corporate governance in ensuring the sustainable growth of national oil and gas companies and underscored the need for robust collaborations among ECOWAS countries, just as he highlighted the importance of fostering strong regional ties to drive collective prosperity in the oil and gas sector.

He also emphasized how the UBA Group remains dedicated to providing strategic financial solutions that empower national oil and gas companies to navigate the complexities of the industry and drive sustainable development.

With active involvement in major continental development projects and a strong presence across Africa, UBA is positioned as the financial institution of choice for the event.

The bank’s commitment to the growth of the mining and petroleum industries in the sub-region is not only evident in its support for ECOMOF but also reflects its dedication to overall African economic development.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 35 million customers globally.

Operating in 20 African countries and the United Kingdom, the United States of America, France, and the United Arab Emirates, UBA provides retail, commercial, and institutional banking services, leading financial inclusion and implementing cutting-edge technology.

Press Release2 hours ago

Fidelity Bank’s Consistent Strong Growth Excites Investors

Akmodel Group MD Wins Outstanding Humanitarian Award At Maiden Eko Mi Award Night
Press Release2 days ago

Akmodel Group MD Wins Outstanding Humanitarian Award At Maiden Eko Mi Award Night

Rep Umoh: Inflation and Unemployment Hinder Nigeria's Economic Potential
Breaking News3 days ago

Rep Umoh: Inflation and Unemployment Hinder Nigeria’s Economic Potential

Eko Mi Awards Hosts Bldr. (Dr.) Abdulhakeem Odegade, Akmodel Group MD, Hon. James Abiodun Faleke, Favour Benson, Cardinal James Odumbaku, etc To Attend Maiden Edition
Press Release4 days ago

Eko Mi Awards Hosts Bldr. (Dr.) Abdulhakeem Odegade, Akmodel Group MD, Hon. James Abiodun Faleke, Favour Benson, Cardinal James Odumbaku, etc To Attend Maiden Edition

Top 5 Most Popular Apps Worldwide
Breaking News5 days ago

Top 5 Most Popular Apps Worldwide

Band A Struggles: Universities Face High Tariffs While Students Suffer from Blackouts
Breaking News6 days ago

Band A Struggles: Universities Face High Tariffs While Students Suffer from Blackouts

Business1 week ago

Zenith Bank Capital Markets Day

GTCO Offers 9 Billion Shares At ₦44.50 Each, Envisions One Billion Dollar Profit
Business2 weeks ago

GTCO Offers 9 Billion Shares At ₦44.50 Each, Envisions One Billion Dollar Profit

Zenith Bank Wins Best Commercial Bank In Nigeria And Best Corporate Governance Awards At World Finance 2024 Awards
Business2 weeks ago

Zenith Bank Wins Best Commercial Bank In Nigeria And Best Corporate Governance Awards At World Finance 2024 Awards

Unity Bank empowers 400 fresh graduates and invests over N100 million in the Corpreneurship Challenge.
Business2 weeks ago

Unity Bank empowers 400 fresh graduates and invests over N100 million in the Corpreneurship Challenge.

FIRSTBANK SPONSORS “THE NOBLE WARRIOR” PLAY, A 90TH BIRTHDAY TRIBUTE TO WOLE SOYINKA
Business2 weeks ago

FIRSTBANK SPONSORS “THE NOBLE WARRIOR” PLAY, A 90TH BIRTHDAY TRIBUTE TO WOLE SOYINKA

Access Holdings launches N351 billion rights issue to bolster capital base
Business3 weeks ago

Access Holdings launches N351 billion rights issue to bolster capital base

Why Investors will buy Fidelity Banks Offers, by Capital Market Stakeholders
Business4 weeks ago

Why Investors will buy Fidelity Banks Offers, by Capital Market Stakeholders

GTCO Offers 9 Billion Shares At ₦44.50 Each, Envisions One Billion Dollar Profit
Business4 weeks ago

GTCO Recognised As Nigeria’s Strongest Banking Brand

Union Bank Advocates for Environmental Restoration; Commemorates World Environment Day
Business1 month ago

Union Bank Advocates for Environmental Restoration; Commemorates World Environment Day

Copyright © FastNews Nigeria