As part of its commitment to fostering peace and stability across the continent, the United Bank for Africa (UBA) Plc has donated $500,000 to the African Union (AU) Peace Fund.
AU-Peace Fund was established in June 1993 as one of the operational tools to finance the peace and security activities of the Organisation for African Unity (OAU). It aims to provide the necessary financial resources for peace support missions and other operational activities related to peace and security in Africa.
The donation by the financial institution seeks to support AU’s efforts towards promoting security, conflict resolution, sustainable development, and a unified Africa, as envisioned in the AU’s Africa Agenda 2063.
The UBA’s Group Chairman, Tony Elumelu, who announced the donation in Addis Ababa, Ethiopia, emphasised the crucial role of corporate institutions in shaping Africa’s future, stating that UBA’s investment in peace and security is key to driving economic prosperity and sustainable development across the continent.
According to him, development will come with peace, urging individuals, organisations and businesses to be committed to achieving peace and building a more secure Africa. “With presence in over 20 African countries, UBA strongly believes in the continent’s potential,” he noted.
He commended AU for its commitment to peace and security in Africa, stating that UBA Group is honoured to support the mission and looks forward to a deeper collaboration between the two institutions.
Responding, the chairman of the AU Peace Fund’s Executive Management Committee (EMC), Moussa Faki Mahamat, expressed that peace is synonymous with resources.
“If we want development and stability, we must achieve peace. The UBA has demonstrated their commitment to the development of our continent with this support through sustainable resources. Together, we will continue to build a continent for the future,” he said.
It would be recalled that UBA Foundation in 2020 contributed $14m to catalyse a comprehensive Pan-African response to the fight against the coronavirus (COVID-19) global pandemic
The donation provided significant support to Nigeria and 19 other African countries by supplying relief materials, critical care facilities, and financial support to governments.
