Finance

Covid-19: UBA donates $4.5mln to African countries

Covid-19: UBA donates $4.5mln to African countries
Thursday, 26 March 2020 14:37

The banking group United Bank for Africa (UBA), founded by Nigerian billionaire and philanthropist Tony Onyemaechi Elumelu (pictured), announced it is donating 1.5 billion naira ($4.5 million) to support the 19 African countries in which it has subsidiaries, in the fight against the coronavirus pandemic.

This is a time when we must all play our part. This global pandemic must bring citizens, governments and business leaders together, and quickly. As we see a rapidly increasing number of cases of the coronavirus in Nigeria and Africa, the private sector has to work hand in hand with various Governments, in stemming the spread of the global pandemic,” Elumelu said.

Nigeria, the headquarters and the group's largest market, is expected to receive $7 million which will be divided between Lagos State ($2.8 million), the federal capital Abuja ($1.6 million) and the other 35 states of the country ($2.8 million).

The latest data show that the pandemic has touched 469,000 people worldwide causing nearly 22,000 deaths.

Idriss Linge

On the same topic
SMEs drive up to 40% of GDP and most jobs but face regulatory and financial constraints Power shortages and limited access to finance remain major...
BOA Niger warns net profit to drop 92% in 2025 Decline driven by high provisions amid rising non-performing loans Sanctions and weak lending...
Togo minister opens talks with private sector to boost growth Businesses cite financing gaps, debt, and energy costs as...
British International Investment and Deutsche Bank launch a $150 million facility to support trade finance across Africa. The program...
Most Read
01

Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...

Togo Passes Law to Criminalize Counterfeiting of West African CFA Franc
02

Since its 2019 IPO, Airtel Africa paid Deloitte over $37 million in audit and non-audit fees,...

Airtel Africa and Deloitte: A Seven-Year Relationship, $37 Million in Fees and a Planned Handover
03

CCR-UEMOA presents mid-term review of private sector competitiveness efforts Reforms, AfCFTA trai...

Strengthening the Business Climate in WAEMU Countries: CCR-UEMOA Reviews Its Midterm Record
04

World Bank announces $137 million to boost West Africa digital economy Program expands broad...

Benin, Liberia and Sierra Leone Receive $137M to Expand Digital Access for 5.2 Million People
05

ECOWAS is proposing a regional digital platform for passengers to file and track complaints online...

ECOWAS Considers Regional Platform to Enforce Air Passenger Compensation
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.