The Chairman of the United Bank for Africa (UBA) Group, Tony Elumelu, met on Wednesday (12) with the President of the Republic, Daniel Chapo, in a meeting that reinforced the Nigerian bank’s interest in expanding its involvement in Mozambique’s key economic sectors.
The meeting took place within the framework of Elumelu’s pan-African tour, aimed at strengthening institutional relations and promoting Africa-led investments.
According to an official statement, the meeting served to explore cooperation opportunities in strategic areas for the country’s growth, particularly energy, agriculture, tourism, and infrastructure.
Tony Elumelu stressed that the continent needs to better harness its natural resources and young population, emphasizing that domestic capital must play a more decisive role in Africa’s economic transformation.
In one of his remarks, Elumelu underlined that Africa’s progress will depend on the ability of its leaders and investors to “leverage the continent’s strengths, invest strategically, and develop local solutions capable of transforming lives and economies,” clearly expressing the financial group’s vision.
President Daniel Chapo, for his part, acknowledged UBA’s contribution to expanding financial inclusion across several African countries and highlighted Mozambique’s progress in sectors that are attracting growing foreign investment interest.
The Head of State expressed optimism about deepening cooperation with the Nigerian bank, particularly in projects that could accelerate job creation, strengthen competitiveness, and support the development of local value chains.
UBA has been operating in Mozambique for several years, seeking to consolidate its position as a relevant partner for the private sector and for initiatives linked to the modernization of financial services. The delegation accompanying Tony Elumelu included several senior executives of the group, demonstrating the importance the bank attributes to the Mozambican market.
Elumelu’s visit to Maputo follows similar meetings with the Presidents of Kenya and Zambia, indicating UBA’s intention to position its subsidiaries as key players in Africa’s most promising economies.
