• Saturday, April 20, 2024
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UBA sponsors ECOWAS mining forum to boost growth

UBA to seek shareholders approval for capital raise

United Bank for Africa (UBA) Plc, a multinational pan-African financial services group, has been announced as the official sponsor of the fourth edition of the ECOWAS Mining and Petroleum Forum (ECOMOF 2024) taking place in Cotonou, Benin Republic.

The regional event termed ‘ECOMOF 2024’ is expected to see a large gathering of key players and stakeholders in the mining and petroleum sectors of ECOWAS.

UBA, as the preferred partner for the event, has underlined the bank’s commitment to the growth of the mining and petroleum industry in the sub-region but to the whole not African economic development, according to a statement.

“Tony Elumelu, group chairman, UBA Group would give the keynote address during the opening ceremony of this all-important event,” the statement said.

It said Elumelu who doubles as chairman of Transcorp Group, with extensive interests in energy and power, will be speaking on the theme: “Geo-extractive Resources and Technologies: What Pooling Strategies for Value Creation in West Africa.

“His speech is expected to highlight UBA’s increasing effort to support and develop the African continent through strategic investments in the key sectors of mining and petroleum.”

According to the statement, Patrice Talon, president of the Republic of Benin and Bola Tinubu, president of Nigeria and current boss of ECOWAS will at the forum aim to restate its commitment towards supporting economic and social development across the continent.

“The focus of ECOMOF 2024 underscores the significance of transforming the mining and oil sectors into economic pillars by formulating attractive policies for investors, essential for the sectors’ substantial contribution to the Gross Domestic Products of ECOWAS member states,” it said.

It added that the Transnational Corporation Group (Transcorp Plc) – a diversified conglomerate with strategic investments in various sectors, including power and energy – will also actively participate in the forum.

Key officials from UBA Group and Transcorp Plc, including Abiola Bawuah, CEO of UBA Africa; Ebele Ogbue, UBA’s group head, corporate and energy Bank and Owen Omogiafo, president/ CEO of Transcorp Group will be actively involved in discussions and panels on the sidelines of the event.