*The United Bank for Africa Plc donates $500,000 to the African Union Peace Fund to support efforts at promoting security, conflict resolution, sustainable development, and a unified Africa as projected in the AU鈥檚 Africa Agenda 2063

Isola Moses | 绿帽献妻

United Bank for Africa (UBA) Plc has demonstrated its commitment to fostering peace and stability across the African continent with a donation of $500,000 to the African Union (AU) Peace Fund, Addis Ababa, Ethiopian capital.

绿帽献妻 learnt the UBA Group donation supports the continental body’s efforts at promoting security, conflict resolution, sustainable development and a unified Africa, as envisioned in the AU鈥檚 Africa Agenda 2063.

The AU Peace Fund reportedly plays a crucial role in financing mediation and preventive diplomacy efforts across Africa.

The Fund also strengthens institutional capacity, and ensuring rapid responses to emerging conflicts.

UBA鈥檚 support, therefore, underscores the financial institution’s dedication to the collective progress of African countries.

It is equally noted that such support enhances the UBA Group鈥檚 long-standing belief that economic growth and regional stability go hand in hand.

In his remarks, H.E. Moussa Faki Mahamat, Chairman of the Executive Management Committee of AU Peace Fund, stated: 鈥淧eace is synonymous with resources; if we want development and stability, we must achieve peace.

“The United Bank for Africa has demonstrated its commitment to the development of our continent by this commitment, through sustainable resources. “Together we will continue to build a continent for the future.鈥�

Why UBA Group supports AU Peace Fund: Tony Elumelu, Chairman

Speaking on the development also, Mr. Tony Elumelu, Chairman of UBA Group, who announced the donation during the recent Ordinary Meeting of the AU Heads of Stated and Government, held

in Addis Ababa, Ethiopia, highlighted the reasons for the UBA Group鈥檚 support to the AU.

Elumelu explained the requirement that corporate institutions shape Africa鈥檚 future cannot be over-emphasised, and by investing in peace and security, UBA is contributing to an environment where businesses, communities, and nations can thrive, driving sustainable development and economic prosperity for all, report said.

He also stated: “UBA is committed to advancing sustainable development, uplifting the quality of life across Africa and the vital connection between economic growth for Africans and African businesses and the stability provided by peace and security.”

The UBA Group Chairman said: “Development will come with peace, and every individual, organisation and business should be committed towards achieving this.”

Elumelu commended the African Union for its steadfast dedication to promoting peace and security across the continen.

According to him, UBA Group is honoured to partner with the AU in this noble endeavour, while seeking deeper collaboration between the two institutions.

It is equally noted that the commitment of the financial services group to the growth and stability of the continent has been unwavering, including the UBA Foundation鈥檚 contribution of $14 million to catalyse a comprehensive Pan-African response to the fight against the Coronavirus (COVID-19) global pandemic.

The donation provided significant and much needed support to Nigeria, and 19 other African countries, by supplying relief materials, critical care facilities, and financial support to governments, according to report.

The African Union Peace Fund (AUPF) is a financial mechanism established by the African Union to support peace and security initiatives across the continent, primarily focused on conflict prevention, mediation, and peace-building operations through funding allocated to various peace support activities across Africa, including institutional capacity building and peace support operations.

It is considered a key pillar of the African Peace and Security Architecture (APSA).

UBA Group, which operates in 20 African countries and the United Kingdom (UK), the United States (US), France and the United Arab Emirates (UAE),聽 provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees鈥� group wide and serving over 45 million customers globally.

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