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UBA relishes investment in Tchad, invites potential investors

By News Express on 10/09/2017

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The United Bank for Africa (UBA) Plc has spoken highly of the investment potentials of the Republic of Tchad, declaring that it has no regret over its decision to set up business in the country some 10 years ago.

CEO, UBA Francophone Africa, Emeke E. Iweriebor, made the declaration while speaking on behalf of the Chairman of UBA Group, Mr Tony Elumelu, at the roundtable Forum organised in Paris from September 6 – 8, 2017, by the Government of the Republic of Tchad, on the financing of the National Development Plan 2017-2021.

The Forum was opened and closed by Tchadian President Idris Deby Itno. In attendance were the President of Mauritania, Mohamed Ould Abdel Aziz, all the Tchadian cabinet ministers, representatives from various governments including the governments of Japan, Canada, the U.S.A, Saudi Arabia, Switzerland and from the African Union, AfDB, EU, IMF, the IFC and many others.

Iweriebor, who spoke at a session during the forum, stated that UBA’s decision to invest in Tchad a decade ago turned out to be a very sound investment decision. He said: “UBA Tchad has contributed to the growth of the Tchadian economy through financing infrastructure, a critical lever in sustainable development.”

Iweriebor went further to explain that UBA Tchad is one of the Pan-African bank’s high performing subsidiaries in Africa and encouraged potential investors to look into Tchad as an investment destination.

UBA has supported several projects in Tchad including a 60 Mega Watt Central Electricity power plant in Farcha. UBA contributed $18.5 million and led the syndication that raised $80 million for the project resulting in an improvement in the access to electricity in Tchad by 3.9%.

The bank continues to support the government of Tchad in its development initiatives in the areas of infrastructure, Oil and Gas and other key sectors of the economy.

The Forum on the National Development plan saw many organisations and countries pledge support to Tchad with about $20 billion having been raised.

Ending the forum, President Itno thanked all the people and organisations present who had come to support Tchad, promising that the administration was going to put in the maximum effort to ensure that the development plan is successful. “This administration is a transparent one that is working with partners to ensure successful implementation of all the projects. It is the responsibility of the government to lead the country to sustainable development,” he said.

Photo shows Executive Director and CEO, UBA Francophone, Emeke Iweriebor, with Christian Georges Diguimbaye, Hon. Minister of Finance and Budget of the Republic of Tchad, at the National Development Planning Forum organised by the Government of Tchad in Paris, France, from September 6 - 8, 2017.

Source News Express

Posted 10/09/2017 12:26:49 PM

 

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