#UBAAtUNGA: The Need for Partnerships

“There are a lot of opportunities on the continent but capital is very difficult to come by” - Group Chairman, Tony O Elumelu.

It has been quite an engaging week for #UBAAtUNGA as Group Chairman, Tony Elumelu, amongst other things emphasized the need for partnerships for African entrepreneurs. In his speech during the interview on CNN, he said “There are a lot of other young Africans who are more energetic, equally intelligent if not even more intelligent, but access to capital is very difficult to come by in Africa that is why we believe that we need to extend our hands to others and see how collectively we can make a difference on the continent”. We are working with individuals and institutions like the UNCDF we think we can make a whole world of difference.

The partnerships will benefit African entrepreneurs in terms of capital, mentorship, business education to effectively manage their capital. This is why UBA Group steadfastly adheres to its age long commitment to African entrepreneurs, providing them with the much needed capital, specially created for every niche including business mentorship and education through its SME Desk. The Chairman added that “The global community must lend hands through partnerships to tackle joblessness and its impact on mankind and humanity to ensure the security of our future”.

According to the Group Chairman, “I’m very worried, but the glass is half full. What I see in the emerging markets is that even though there’s inflation and interest rate go up and creates more problems, we also see a lot of opportunities on the continent that more emerging markets. I think that prioritizing the young ones, investing in their future will help us to create ultimately, sustainable economic development for all.”

According to Ahunna Eziakonwa, Assistant Administration, UNDP, “What the Group Chairman has started is a revolution. His philanthropy has opened the eyes of multilateral organisations like the UNDP and many other agencies. We’ve seen how these collaborations open up a new world for these entrepreneurs”. With the advent and arrival of the African Continental Free Trade Agreement, our interaction with young entrepreneurs shows that their dreams have surpassed their immediate borders and suddenly there is a market (AfCFTA) that gives them that opportunity. This is where organisations like ours, UBA Group come in strategically in partnership with these SMEs providing them with cross border payment solutions.

In a meeting with Samantha Power, the Administrator for the United States Agency for International Development (USAID) he highlighted the benefits of a partnership UBA Group to imitate better financing solutions across the continent.