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The United Bank for Africa (UBA) Plc has showcased its dedication to promoting peace and stability throughout Africa by making a significant donation of $500,000 to the African Union (AU) Peace Fund.
This contribution from the UBA Group aids the AU in its mission to enhance security, resolve conflicts, achieve sustainable development, and realize a unified Africa, as outlined in the AU’s Africa Agenda 2063.
The AU Peace Fund is vital for financing mediation and preventive diplomacy efforts across the continent, bolstering institutional capacity, and ensuring quick responses to emerging conflicts.
UBA’s support emphasizes its commitment to the collective advancement of African nations, reinforcing the UBA Group’s belief that economic development and regional stability are interconnected.
Chairman of the Executive Management Committee AU Peace Fund, H.E Moussa Faki Mahamat, remarked, “peace is synonymous with resources; if we aspire for development and stability, we must attain peace.
The United Bank for Africa has exhibited their dedication to our continent’s development through this commitment, utilizing sustainable resources. Together, we will continue to construct a promising future for the continent.”
UBA’s Group Chairman, Tony Elumelu, announced the donation in Addis Ababa, Ethiopia, elaborating on the reasoning behind the UBA Group’s support for the AU.
Elumelu emphasized that the role of corporate institutions in shaping Africa’s future is crucial. By investing in peace and security, UBA is facilitating an environment where businesses, communities, and nations can flourish, thereby driving sustainable development and economic prosperity for all.
“UBA is devoted to fostering sustainable development and improving the quality of life throughout Africa while recognizing the essential link between economic growth for Africans, African businesses, and the stability afforded by peace and security,” he stated. With operations in over 20 African countries, UBA firmly believes in the continent’s potential, asserting that “development will come with peace, and every individual, organization, and business must commit to achieving this.”
Elumelu acknowledged the African Union for its unwavering commitment to promoting peace and security across the continent, expressing that UBA Group is privileged to partner with the AU in this admirable pursuit while seeking further collaboration between the two entities. Over the years, the UBA Group has consistently demonstrated its commitment to the continent's growth and stability, which includes the UBA Foundation’s contribution of $14 million to support a comprehensive Pan-African response to the COVID-19 global pandemic. This donation provided essential assistance to Nigeria and 19 other African nations by delivering relief materials, critical care facilities, and financial aid to governments.
The African Union Peace Fund (AUPF) serves as a financial instrument initiated by the African Union to back peace and security efforts throughout the continent, concentrating primarily on conflict prevention, mediation, and peace-building activities by providing funding for various peace support initiatives, including capacity building and peace support operations; it functions as a fundamental component of the African Peace and Security Architecture (APSA).
