Africa Prosperity Dialogue: UBA Africa CEO advocates for funding, partnerships to drive infrastructural development

During a panel discussion on infrastructure development in Africa at the launch of the 2025 Africa Prosperity Dialogue, Mrs. Abiola Bawuah, the Executive Director and CEO of UBA Africa, underscored the availability of funding to bolster the expansion of infrastructure across the continent.

Mrs. Bawuah emphasized the existence of regional, commercial, and development banks in Africa, capable of offering vital support for infrastructure to stimulate growth on the continent. She stressed the significance of collaborative discussions with all financial stakeholders to aggregate funds for Africa’s development.

Mrs. Bawuah discussed UBA’s contributions, highlighting the bank’s significant financing of infrastructure projects in Africa, including Ghana. She expressed UBA’s readiness to collaborate with governments and other entities to advance Africa’s development agenda, particularly in addressing the infrastructure gap across the continent.

Mrs Bawuah emphasized the need for sustainable funding mechanisms, stating, “Our quest for good infrastructure like roads, railways, telecoms, etc. must be paid for, and therefore we must demonstrate the ability to pay for the funding.” She highlighted the role of banks in partnering with governments to ensure viable funding solutions, citing UBA’s financing of a USD 300 million road project in southern Africa, which is sustained through tolling mechanisms.

Mrs. Bawuah stressed the need to address the cost of funding by initiating dialogues to reduce it, thus making lending more sustainable for banks. She called upon the African Prosperity Network (APN) to facilitate discussions involving banks, the Bank of Ghana, the business community, and other stakeholders to achieve this objective.

Mrs. Bawuah observed variations in funding tenure across countries, mentioning that UBA offers tenures of 8-12 years in some nations, depending on economic factors. However, she highlighted challenges in Ghana, where the longest tenure is currently limited to 4 years due to funding costs and a challenging macroeconomic environment.

Mrs. Bawuah additionally called for a reassessment of Stock Exchanges in Africa, citing their underperformance. She proposed enhancements to better facilitate infrastructure development initiatives across the continent by providing long-term funds.

The panel discussion also included prominent figures such as Moh Damush, the Group CEO of Telecel, Kofi Bosompem Osafo-Marfo, the Director-General of SSNIT, and Hon. John Peter Amewu, the Minister for Railway Development in Ghana. They highlighted the importance of collaborative efforts from diverse sectors to propel infrastructure development and harness the abundant opportunities in Africa.