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UBA agrees on deal with China Development Bank

SMEs, Infrastructure sectors to benefit from deal
elumelu, wang, china
By Vicky Bricks

The United Bank for Africa, UBA  is looking eastwards, and notably to the China Development Bank in its bid to attract even greater investment capital that would help it play a pivotal role in the continuing growth and development of the African continent, it has emerged.

In Beijing today, the bank’s Chairman, Mr. Tony O. Elumelu held ground-breaking talks with officials of the China Development Bank.

At the close of discussions, Elumelu and Wang YongSheng, Vice Governor of the China Dev Bank agreed for a partnership between the China Development Bank and the UBAGroup with respect to financing infrastructures and Small and Medium Enterprises, SMEs in Africa.

Popularly referred to as ‘Africa’s global bank,’ UBA effectivelyoperates currently in over a third of the nations of Africa as well as in key locations in Europe and Asia.

More details to follow

Tony Elumelu of UBA and Wang YongSheng of China Development Bank

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