Finance

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

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

(Ecofin Agency) - 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



 
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