The Value News

Post COVID 19: UBA Holds Second Edition Of The Bank Conversations Day To Set A Roadmap For Africa Economic Recovery And Sustainable Development

By Stephen Ubanna

 Not many  were surprised that Tony Elumelu, Group Chairman, United Bank For Africa plc, and founder, Tony Elumelu Foundation, popular, TEF, a philanthropist organistaion  and the Money Deposit Bank, MDB, have  taken the initiative to start the UBA  plc, a pan African bank Conversation Day to Celebrate of African Day .

The event , according to informed sources is to bring  together  African political Leaders and Policy makers , to define   an African  Response  to the Wuhan Town in Hebei Province of the Asian country of China Coronavirus pandemic, popular, COVID 19.

 The first edition of the  high profile discussion  had   been held sometimes ago in Abuja, the Federal capital Territory. The large turnout of important dignitaries both within and outside the country to the media event may   have encouraged the  Bank to start planning for the second edition slated today, Monday, May 25, 2020. Note that the theme for the 2020 edition of the event is: Empasising Economic Collaboration, Restructuring and  Repositioning for the African New Order.

Many believe that the 2020 edition of the  UBA Coversations Day had become timely in this trying and difficult times in Africa with the  downturn in the African  economy to avoid getting  worse  giving the fact that  over 60 percent  of Africans  are still living  below the poverty line as it will set a roadmap for the Continent ‘s  economic growth  and Sustainability

Given the importance attached to the event, the business icon, Elumelu, was said to have had  agreed  to moderate the discussion. An insider had told  The  Value News that  Ramon Nasir, the bank Head , External and Media Relations, has been encouraged to issue a Statement about the high profile event   after getting the confirmation of the participation  of President Macky Sall, Senegal, and George Opong Weah, a football star and  the President of  Liberia   including Chris Coons, a Senator of the North American country of the United States, US, and who incidentally  is a member of the Senate Committee  on Foreign Relations.

Uzoka: GMD, UBA plc

TAt the instance of Elumelu, the bank Group Chairman,  the Organising Committee were  said to have also reached out  to Okey Oramah, a Professor  and President , Africa Export –Import Bank , Afreximbank,  Peter Maurer, President, International Committee of the Red Cross, ICRC, and Amir Ben Ahmed, President, Africa Chief Executive Officers, CEO, Forum and several other dignitaries and top government Functionaries  who were said to have  also given their word to be at the high profile event .

The confirmation of these two African Presidents and the other  important dignitaries  both within and outside Africa, may have informed  why Uzoka, the bank Group Managing Director  had sent out invitation letters  to the  guests  including  top government Functionaries in various countries in Africa. ‘’I am  pleased to invite you  to join our  Chairman , Tony Elumelu, at the second  edition of the UBA Conversations Day in Celebration of  Africa day’’.

Economic experts believe that if the African political leaders and policy makers   will go ahead to implement the recommendations that would be arrived at the UBA Coversation Day on how to reposition the African economy on the part of growth,, as  it will a go  a long way to revive the battered  economy.

The experts noted that  ‘’it will lead  to lead to a  significant growth in the  economy in the post COVID 19 era, by creating more jobs as most of the Small and Medium Scale Enterprises, SMEs, across Africa which had been shut  down as a result of  the unavailability of raw materials and Chemicals to sustain their factories  as a result of the  pandemic  which  necessitated the  lock down of  the  African countries economy, will come back on stream,  which, analysts believe will fuel sustainable development. The SMEs are the engine of  economic  growth  of every economy. This is may have why the Tony Elumelu Foundation in ten years, precisely between 2000 and 2020, had spent $100 million  to sponsor thousands  of SMEs across Africa.     

Stephen Ubanna

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July 2021

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