The United Bank for Africa (UBA) Group has announced a donation of $500,000 to the African Union (AU) Peace Fund as part of its commitment to fostering peace and stability across Africa.
The Bank said the donation was in support of the AU’s efforts towards promoting security, conflict resolution, sustainable development, and a unified Africa, as envisioned in the AU’s Africa Agenda 2063.
The AU Peace Fund plays a crucial role in financing mediation and preventive diplomacy efforts across Africa, strengthening institutional capacity and ensuring rapid responses to emerging conflicts.
The Bank said its gesture underscored its dedication to the collective progress of African nations, reinforcing its long-standing belief that economic growth and regional stability go hand in hand.
The Chairman of the Executive Management Committee AU Peace Fund, Moussa Faki Mahamat said that peace was synonymous with resources, if Africa wants development and stability.
“To achieve peace, the United Bank for Africa has demonstrated its commitment to the development of our continent by this commitment, through sustainable resources. Together, we will continue to build a continent for the future,” Mahamat said.
UBA’s Group Chairman, Tony Elumelu, who announced the donation in Addis Ababa, Ethiopia, highlighted the reasons behind the UBA Group’s support to the AU.
Elumelu explained the requirement that corporate institutions shape to Africa’s future cannot be over-emphasised, adding that by investing in peace and security, UBA was contributing to an environment where businesses, communities, and nations could thrive, driving sustainable development and economic prosperity for all.
“UBA is committed to advancing sustainable development, uplifting the quality of life across Africa and the vital connection between economic growth for Africans and African businesses and the stability provided by peace and security,” Elumelu said.
He said with presence in over 20 countries in Africa, UBA strongly believes in the continent’s potential, adding that because development would come with peace, every individual, organisation and business should be committed towards its achievement.
The UBA Chairman commended the African Union for its steadfast dedication to promoting peace and security across Africa, saying UBA Group was honoured to partner with the AU in this noble endeavour, while seeking deeper collaboration between the two institutions.
UBA Group’s commitment to the growth and stability of the continent over the years has been unwavering, including the UBA Foundation’s contribution of $14m to catalyse a comprehensive Pan-African response to the fight against the coronavirus (COVID-19) global pandemic.
The donation provided significant and much needed support to Nigeria and 19 other African countries by supplying relief materials, critical care facilities, and financial support to governments.
The African Union Peace Fund (AUPF) is a financial mechanism established by the African Union to support peace and security initiatives across the continent, primarily focused on conflict prevention, mediation, and peace-building operations through funding allocated to various peace support activities across Africa, including institutional capacity building and peace support operations; it is considered a key pillar of the African Peace and Security Architecture (APSA).
