The United Bank for Africa (UBA) Plc has justified its decision to invest in the Republic of Tchad, as it has contributed to the growth of the economy through financing infrastructure, which has served as a critical lever in sustainable development.
According to the bank, the decision to invest in Tchad a decade ago has turned out to be a very sound investment decision.
Speaking at the roundtable Forum organized in Paris recently by the government of the Republic of Tchad, on the financing of the National Development Plan 2017- 2021, the Chairman of UBA Group, Tony Elumelu re-affirmed the decision to invest in the country.
Elumelu, who was represented by the Chief Executive Officer, UBA Francophone Africa, Emeke Iweriebor, said UBA Tchad is one of the Pan-African bank’s high performing subsidiaries in Africa and encouraged potential investors to look into Tchad as an investment destination.
With presence in 19 African countries and in London, Paris and New York, UBA has supported several projects in Tchad including a 60 Mega Watt Central Electricity power plant in Farcha, he added.
“UBA contributed $18.5million and led the syndication that raised $80 million for the project resulting in an improvement in the access to electricity in Tchad by 3.9%.
“The bank continues to support the government of Tchad in its development initiatives in the areas of infrastructure, Oil and Gas and other key sectors of the economy,” he said.