Post COVID Economic Growth: UBA Provides $200 Million for Nigeria’s Petroleum Industry

 

The United Bank for Africa Plc (UBA), the leading pan-African financial services group, has acted as an Initial Mandated Lead Arranger with a consortium of Nigerian commercial and international banks in a $1.5 Billion Pre-Export Finance Facility for Eagle Export Funding Limited, to enable the forward sale of crude by the Nigerian National Petroleum Corporation (NNPC) and its upstream subsidiary, the Nigerian Petroleum Development Company (NPDC).

UBA is providing $200 million (Naira equivalent) towards the crude oil sale, to support investment growth and liquidity requirements. 

The forward sale will provide much needed capital for investment in NNPC’s production capacity, which is of strategic importance to the Nigerian economy and the country’s leading source of foreign exchange earnings. 

UBA’s position as Mandated Lead Arranger recognises the Group’s strength in structuring and deploying financing to the oil and gas sector, and the depth and liquidity of the Group’s balance sheet.

TAAT Field school training inspires women farmers in Sudan

 

In South Darfur, Sudan, pearl millet is the most popular crop, and over 90 percent of farming households consider it to be one of their three major crops. This is followed by groundnuts and sorghum. The other remaining crops are considered to be less important, favoured by fewer than 10 percent of the farming households.

Millet and sorghum are the main staple food crops across Darfur region while groundnuts are normally considered a cash crop. Although pearl millet is the most widely grown crop, less than 20% percent of farming households use improved varieties.

In South Darfur, farming households obtain their seed from multiple sources including: the seed they had saved, local grain/seed markets, social networks, seed aid from the Government and other humanitarian and development partners, local seed banks and agro-input dealers.

Access to improved seed capable of boosting crop yield constitutes a major problem to farmers here. The challenge is made worse by the gaping lack of access at the community level. 

Dan Okeke is the new Group Executive Director of Heirs Holdings

 

Pan-African investment company, Heirs Holdings this week announced the appointment of Dan Okeke as Group Executive Director.  The appointment took effect from August 01, 2020.

Mr Okeke joins following a distinguished three-decade career at the United Bank for Africa Plc (UBA), where he most recently served as an Executive Director, responsible for leading consumer, commercial and public-sector businesses.  

At HH, he will be responsible for business coordination and growth across Heirs Holdings’ portfolio of pan-African investments in the power, financial services, oil and gas, hospitality, real estate, healthcare, and financial technology sectors.

Heirs Holdings is a family-owned investment company committed to improving lives and transforming Africa.  Our portfolio spans the power, oil and gas, financial services, hospitality, real estate, and healthcare sectors, operating in twenty-three countries worldwide.  

Africa is the land of opportunities - Tony Elumelu

 

The Group Chairman, United Bank for Africa (UBA) Plc, Tony O. Elumelu  has said that the Corona virus pandemic has presented a perfect opportunity for foreign investors to invest in Africa, owing to the huge opportunities that are inherent in the African economy.

“This is the time to invest. Africa is a land of opportunities; There is huge population and there is now the realisation by African leaders who are creating an enabling environment to encourage these investments,” Elumelu said on Thursday, while speaking at a virtual session organised by the TIME100TALKS on the theme, ‘Empowering Entrepreneurs’.

Bill Gates, Founder of Bill and Melinda Gates Foundation and United States Senator, Tammy Duckworth were other thought leaders who also spoke in sessions at the event.

 

UBA Reiterates Importance of Small Businesses, Hosts MSME Workshop

 

In its continuous bid to support the growth of Micro Small and Medium Enterprises(MSME) and equip them with the necessary tools aimed at strengthening and sustaining their businesses, Pan African Financial Institution, United Bank for Africa (UBA) Plc is set to organise another MSME Workshop for entrepreneurs.

The workshop which will hold on Wednesday via Microsoft Teams, will host professionals who will share their experiences and give essential tips to MSME and business owners on how to their businesses to the next level.

This Workshop which will be in two separate sessions, will specifically target financial record keeping in business which has been established as one of the major challenges that business owners face and it promises to be an eye-opener to participants.

Covid-19: An Opportunity to Reset Africa - Tony Elumelu

 

The Chairman of the United Bank for Africa (UBA) Plc, Tony Elumelu, has stated that the Coronavirus Pandemic currently ravaging the world presents an opportunity to reset the African continent so that Africans can be empowered to become more productive and self reliant. 

 

He said this today at the high-level Round-table discussions made up of African leaders including Dr. Ngozi Okonjo - Iweala, the Special Envoy of the African Union on Covid-19 and Tidjane Thiam who is also a Covid-19 Special Envoy responsible for mobilising international economic support for Africa.

TAAT excites Nigerian Youths with new irrigation technologies for dry season farming

 

Ayuba Abimiku, a young rice farmer at Gidan Mai-Akuya community in Nasarawa state, North-central Nigeria, is excited.

Ayuba is witnessing the operation of a pressured plastic-piped sprinkler for the first time!

“This system allows for proper water management and the farmer can determine the right amount of water needed in the field per time,” he enthused.

“With this, less water is required, unlike the old method which often floods our farms,” he said.

“This technology has made dry season rice farming attractive to the youths, who hitherto do not want to get themselves dirty,” Godiya Ovey, from Madagba community, said.

“This is a system that does not require much effort once you know how to set it up. You can combine it with other endeavours,” he added.

Moses Tsaku, another youth farmer from Azuba-Bashayi community, says the pressured sprinkler and the wet and drying scheduling irrigation technologies have made dry season farming a lot easier.

“These technologies have completely changed my perception about farming,” Moses declared excitedly.