UBA Group Courts East Africa For Large Capital Investments
A high-level business delegation led by UBA Group chief executive officer Mr Phillips Oduoza, is expected in Kampala this week, to lay the ground for upcoming capital intensive investments in Uganda, Kenya and Tanzania.
According to Mr Frans Ojielu, the managing director UBA Uganda, the delegation will arrive in Uganda on Wednesday and will meet several chief executive officers of several Ugandan companies and key central bankers in Uganda, Kenya and Tanzania.
“While in Kampala, he will meet with the Central Bank’s Deputy Governor, Dr Louis Kasekende before heading to Dar es Salaam and Nairobi,” he said.
The UBA delegation comes at a time when business in East Africa is booming with a number of multi-billion dollar investment projects in the pipeline driven by recent and successful oil and gas discoveries in Uganda, Kenya, Tanzania and Rwanda.
UBA Group says it’s ready to finance transactions in sectors not limited to manufacturing, trade, transport, communications, health, education, energy particularly oil & gas in the East African partner states.
UBA has already proved its ability to finance large investments in Africa by signing huge deals in West Africa.
Early this year, together with four Nigerian banks, it funded the $650 million Etisalat expansion deal in Nigeria.
In 2008, it also took part in the syndicated $265 Million facility for the ExxonMobil & Nigerian National Petroleum Corporation (NNPC) oil project and a $70 million joint financing deal with Stanbic IBTC for a gas pipeline belonging to Accugas.
UBA Group has a presence in 21 African nations, and operates branches in New York, London and Paris. Through its global network of 800 branches, it currently serves over 8 million customers in its markets of operation.
The group provides innovative financial services in commercial and investment banking, wealth management, trusteeship, life insurance, pension custody, stock brokerage & share registration services among others.
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Updated on 2013-05-09 09:25
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