The GMD, United Bank for Africa, Mr. Oliver Alawuba, spoke with journalists on the sidelines of the just concluded Annual Meetings of the International Monetary Fund and the World Bank held in Marrakech, Morocco. BUKOLA IDOWU was there for LEADERSHIP Sunday of loan default. Is that a concern?
The most important thing today is for Africa to drive financial inclusion. We still have a lot of Africans that are left out of the banking industry. That is where UBA comes in. UBA is in the forefront of using digital technology to drive financial inclusion and that is important. We need to build strong Africanfinancial institutions that will be able to support infrastructure, SME development and the overall development of the continent.
I can tell you that a lot of agreements will come out of this meeting. But you are also aware that UBA has put forward $6 billion for SME financing, working with the African Continental Free Trade Area. Today, we had a very fruitful discussion with the International Finance Corporation and AFREXIMBank. We have also had useful discussions with the African Development Bank . We are looking at how to partner to move Africa forward particularly as it concerns SMEs and women.
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