At IMF, World Bank Annual Meetings: UBA unveils Africa’s sustainable growth, economic transformation blueprint.

The comprehensive roadmap, focused on: “Banking on Africa’s Future: Unlocking capital and partnerships for sustainable growth”, was delivered by UBA’s Group Chairman, Tony Elumelu.

The report, which elevates Africa's economic priorities to the forefront of international financial conversations, was unveiled Thursday, October 16. 

This was on the sidelines of the ongoing International Monetary Fund, IMF, and World Bank Annual Meetings in Washington, United States of America, USA. 

The document provides a complete roadmap for accelerating Africa’s progress through innovative financial solutions, policy reforms, and strategic partnerships.

“Africa stands at a transformational crossroads, rich in resilience, creativity, and untapped potential. With this white paper, UBA champions Africapitalism, empowering our private sector to drive sustainable growth that delivers prosperity and social wealth,” Elumelu said of the bold vision for the continent's future.

Elumelu who is also the Founder of Heirs Holding Group and the champion of the Africapitalism concept, added that by focusing on inclusive growth and digital innovation, the report promises to enhance financial inclusion for millions, bolster infrastructure projects, and drive climate-resilient initiatives, ultimately fostering job creation, poverty reduction, and regional integration under the African Continental Free Trade Area, AfCFTA.

Elumelu said by advocating for the integration of domestic capital with strategic global alliances, the document aims to unlock an estimated $4 trillion in Africa's domestic financial assets, including $2.5 trillion in commercial bank assets and over $1.1 trillion in long-term institutional capital, while capitalising on the $3.4 trillion potential of the AfCFTA single market.

The white paper, he added, signifies a pivotal advancement in financial infrastructure and economic empowerment for Africa as well as addresses longstanding challenges such as limited access to capital and underdeveloped partnerships, proposing solutions that could accelerate sustainable development across the continent.

Elumelu further say in the global finance space, the unveiling of the white paper also underscores Africa's rising prominence as a key player in the world economy where international investors, institutions, and policymakers are invited to engage more deeply with African markets, highlighting mutually beneficial opportunities for capital flows and collaborations.

This, he noted, will help towards reshaping global investment strategies, encouraging a shift toward emerging markets and promoting diversified portfolios that include African assets, thereby contributing to more balanced global economic growth.

Elumelu explained that with the whitepaper, UBA champions Africapitalism, empowering our private sector to drive sustainable growth that delivers prosperity and social wealth.

“To investors across Africa and the globe: join us in mobilizing our $4 trillion domestic capital alongside strategic partnerships to bridge opportunities, de-risk investments, and build a self-determined future. The era of action is upon us, let us seize it together for Africa's economic sovereignty,” Elumelu added. 

Speaking further on the white paper, UBA’s Group Managing Director and Chief Executive Officer, Oliver Alawuba, pointed out that it redefines development finance, moving from aid dependency to investment highways powered by African innovation.

“UBA, with our deep local knowledge and global reach, is uniquely positioned to unlock capital flows and foster collaborations that transform challenges into opportunities. We call on financial leaders worldwide: partner with us to deploy agile solutions, from digital platforms to blended finance, and co-create resilient growth that benefits millions. Africa's time is now, commit today to be part of this revolutionary journey,” Alawuba stated.

This story was first published in The Guardian Post Edition No:3601 of Tuesday October 21, 2025