The Group Managing Director/CEO, UBA
Plc Mr. Phillips Oduoza was a key participant at the recently concluded
US-Africa Business Leaders Summit that took place from August 4 to 6, 2014 in Washington DC.
Plc Mr. Phillips Oduoza was a key participant at the recently concluded
US-Africa Business Leaders Summit that took place from August 4 to 6, 2014 in Washington DC.
Mr. Phillips Oduoza, The Group Managing Director/CEO, UBA Plc.
While speaking on the sidelines
of the event, he urged that financial institutions in Africa should seize the
opportunity provided by the President Obama led US-Africa Business Leaders
Summit and the enthusiasm about Africa to grow their capacity to meet the
development needs of the continent.
of the event, he urged that financial institutions in Africa should seize the
opportunity provided by the President Obama led US-Africa Business Leaders
Summit and the enthusiasm about Africa to grow their capacity to meet the
development needs of the continent.
He said that much of the
challenges of financing growth and development on the continent lie in the
hands of financial institutions, working in collaboration with international
development finance institutions, investors, and private equity firms
particularly from the US.
challenges of financing growth and development on the continent lie in the
hands of financial institutions, working in collaboration with international
development finance institutions, investors, and private equity firms
particularly from the US.
The three-day summit, he
admitted, will impact positively on helping to change the information
asymmetries about Africa in the US and the rest of the world.
admitted, will impact positively on helping to change the information
asymmetries about Africa in the US and the rest of the world.
Beyond the negative press about
the continent in the western media, he said there are a lot of positive
developments in Africa, with stable democracies in most countries, improved
business climates and abundant investment opportunities in agriculture, power,
transportation, telecommunications, energy and other sectors.
the continent in the western media, he said there are a lot of positive
developments in Africa, with stable democracies in most countries, improved
business climates and abundant investment opportunities in agriculture, power,
transportation, telecommunications, energy and other sectors.
“As one of the largest banks
on the continent, with operations in 19 African countries, we have made huge investments in these
countries and have continued to grow our business as well as contributing to
the finance and developmental needs of these countries” he stated.
on the continent, with operations in 19 African countries, we have made huge investments in these
countries and have continued to grow our business as well as contributing to
the finance and developmental needs of these countries” he stated.
Describing the summit as the
largest gathering of investors, financiers, businessmen and political leaders
from Africa and the US, he commended President Obama, US, Commerce Secretary,
Penny Pritzker ) and Bloomberg for
organising and making the conference a reality. “Though long overdue. It
is better late than never” said Oduoza
largest gathering of investors, financiers, businessmen and political leaders
from Africa and the US, he commended President Obama, US, Commerce Secretary,
Penny Pritzker ) and Bloomberg for
organising and making the conference a reality. “Though long overdue. It
is better late than never” said Oduoza
Oduoza was the only Nigerian bank CEO invited by the US government to participate in the maiden US-Africa
Business Forum held by the U.S. Department of Commerce and Bloomberg
Philanthropies during the US-Africa Leaders Summit in Washington DC.
Business Forum held by the U.S. Department of Commerce and Bloomberg
Philanthropies during the US-Africa Leaders Summit in Washington DC.
The Business Forum focused on
strengthening trade and financial ties between the United States and Africa.
President Obama, who also participated in the Business Forum along with
Secretary Pritzker and Mayor Bloomberg, as well as other senior U.S. government
officials, said Africa is a fundamental part of our interconnected world and partners
with America, noting that the partnership between USA and Africa “must be
grounded in mutual responsibility and mutual respect.”
strengthening trade and financial ties between the United States and Africa.
President Obama, who also participated in the Business Forum along with
Secretary Pritzker and Mayor Bloomberg, as well as other senior U.S. government
officials, said Africa is a fundamental part of our interconnected world and partners
with America, noting that the partnership between USA and Africa “must be
grounded in mutual responsibility and mutual respect.”
He called on Africa leaders to
strengthen their democracies and democratic institutions to encourage investment
inflow into the continent.
strengthen their democracies and democratic institutions to encourage investment
inflow into the continent.
Held at the Mandarin Oriental in
Washington, D.C., the U.S.-Africa Business Forum aimed to intensify efforts to
strengthen trade and financial ties between the United States and Africa, and
to create partnerships that will promote trade, accelerate job growth, and
encourage investment. US companies and institutions announced $17 billion
investment into Africa during the summit.
Washington, D.C., the U.S.-Africa Business Forum aimed to intensify efforts to
strengthen trade and financial ties between the United States and Africa, and
to create partnerships that will promote trade, accelerate job growth, and
encourage investment. US companies and institutions announced $17 billion
investment into Africa during the summit.
African leaders engaged with
business executives from both sides of the Atlantic in conversations about
successes and solutions to increase trade with and invest in Africa. President
Obama also participated in the conversation with CEOs and government leaders
from the United States and Africa.
business executives from both sides of the Atlantic in conversations about
successes and solutions to increase trade with and invest in Africa. President
Obama also participated in the conversation with CEOs and government leaders
from the United States and Africa.
Oduoza, who participated actively
at the meeting, also used the opportunity to have one-on-one business meetings
with top US company executives seeking investment opportunities in Africa. One
of the meetings was with American business magnate, politician and
philanthropist, Michael Bloomberg.
at the meeting, also used the opportunity to have one-on-one business meetings
with top US company executives seeking investment opportunities in Africa. One
of the meetings was with American business magnate, politician and
philanthropist, Michael Bloomberg.
Other top Nigerian companies and
government institutions at the event were; Heirs Holdings (Chaired by Mr. Tony
Elumelu, former GMD/CEO UBA Plc), Africa
Finance Corporation (AFC), A-Post, Central Bank of Nigeria (CBN), Dangote
Industries, Global Infrastructure Partners, Main One Cable Company, Nigerian
Sovereign Investment Authority (NSIA), The Nigerian Stock Exchange (NSE),
and SOLO Phone.
government institutions at the event were; Heirs Holdings (Chaired by Mr. Tony
Elumelu, former GMD/CEO UBA Plc), Africa
Finance Corporation (AFC), A-Post, Central Bank of Nigeria (CBN), Dangote
Industries, Global Infrastructure Partners, Main One Cable Company, Nigerian
Sovereign Investment Authority (NSIA), The Nigerian Stock Exchange (NSE),
and SOLO Phone.
