{"id":29998,"date":"2014-08-08T17:19:35","date_gmt":"2014-08-08T16:19:35","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=29998"},"modified":"2014-08-08T17:19:35","modified_gmt":"2014-08-08T16:19:35","slug":"uba-gmdceo-urges-african-banks-use-us-africa-business-leaders-summit-grow-capacity","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/uba-gmdceo-urges-african-banks-use-us-africa-business-leaders-summit-grow-capacity\/","title":{"rendered":"UBA GMD\/CEO Urges African Banks To Use US-Africa Business Leaders Summit To Grow Capacity"},"content":{"rendered":"<p><span style=\"color: #000000;\">Lagos; 07\/08\/2014; The Group Managing Director\/CEO, UBA Plc\u00a0 Mr. Phillips<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Oduoza has called on financial institutions in Africa to seize the<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">opportunity provided by the President Obama led US-Africa Business Leaders<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Summit and the enthusiasm about Africa, to grow capacity.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">According to him, much of the challenges of financing growth and<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">development on the continent lie in the hands of financial institutions,<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">working in collaboration with international development finance<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">institutions, investors, and private equity firms particularly from the<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">US.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Speaking in Washington DC, the UBA boss said the three-day summit will<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">impact positively on helping to change the information asymmetries about<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Africa in the US and the rest of the world. Beyond the negative press<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">about the continent in the western media, he said there are a lot of<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">positive developments in Africa, with stable democracies in most<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">countries, improved business climates and abundant investment<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">opportunities in agriculture, power, transportation, telecommunications,<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">energy and other sectors.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">&#8220;As one of the largest banks on the continent, with operations in 19<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">African countries,\u00a0 we have made huge investments in these countries and<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">have continued to grow our business as well as contributing to the finance<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">and developmental needs of these countries&#8221; he stated.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Describing the summit as the largest gathering of investors, financiers,<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">businessmen and political leaders from Africa and the US, he commended<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">President Obama, US, Commerce Secretary, Penny Pritzker and Bloomberg for<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">organising and making the conference a reality. &#8220;Though long overdue. It<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">is better late than never&#8221; said Oduoza<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">The Business Forum focused on strengthening trade and financial ties<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">between the United States and Africa. President Obama, who also<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">participated in the Business Forum along with Secretary Pritzker and Mayor<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Bloomberg, as well as other senior U.S. government officials, said Africa<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">is a fundamental part of our interconnected world and partners with<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">America, noting that the partnership between USA and Africa \u201cmust be<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">grounded in mutual responsibility and mutual respect.\u201d He called on Africa<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">leaders to strengthen their democracies and democratic institutions to<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">encourage investment inflow into the continent.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Held at the Mandarin Oriental in Washington, D.C., the U.S.-Africa<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Business Forum aimed to intensify efforts to strengthen trade and<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">financial ties between the United States and Africa, and to create<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">partnerships that will promote trade, accelerate job growth, and encourage<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">investment. US companies and institutions announced $33 billion investment<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">into Africa during the summit.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">African leaders engaged with business executives from both sides of the<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Atlantic in conversations about successes and solutions to increase trade<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">with and invest in Africa. President Obama also participated in the<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">conversation with CEOs and government leaders from the United States and<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Africa.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Oduoza, who participated actively at the Forum, also used the opportunity<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">to have one-on-one business meetings with top US company executives<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">seeking investment opportunities in Africa.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Other top Nigerian companies and government institutions at the event<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">were; Heirs Holdings, Chaired by Mr. Tony Elumelu, CON, Africa Finance<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Corporation (AFC), A-Post, Central Bank of Nigeria (CBN), Dangote<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Industries, Global Infrastructure Partners, Main One Cable Company,<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Nigerian Sovereign Investment Authority (NSIA)\/\/end.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Lagos; 07\/08\/2014; The Group Managing Director\/CEO, UBA Plc\u00a0 Mr. PhillipsOduoza has called on financial institutions in Africa to seize theopportunity provided by the President Obama led US-Africa Business LeadersSummit and&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":29999,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-29998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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