United Bank for Africa (UBA) Group Managing Director Oliver Alawuba has outlined the potential impact of the $30 billion Chad Connection 2030 plan on the continent and global economies.
Speaking at the UAE-Chad Trade & Investment Forum, Mr Alawuba said Africa is moving from a stage of potential to execution.
He described the Chad Connection 2030 plan as a roadmap with 268 projects focused on infrastructure, industrialization and human development.
Alawuba highlighted the importance of a reliable power grid, noting that Chad’s goal of 60 percent electrification by 2030 would support industrial operations, agricultural supply chains and the digital economy.
He also emphasized the role of water access for 11 million people in driving economic activity, supporting healthcare and boosting agricultural production.
On infrastructure, Alawuba said financing roads improves market access, renewable energy projects support climate resilience and energy independence and digital payment systems create a foundation for inclusive economic growth.
He added that governance is key to ensuring investors’ capital is secure and projects are completed.
Oliver Alawuba noted that Africa has financial resources both within and outside the continent but faces challenges in structuring bankable projects and partnerships.
He cited data from the Africa Finance Corporation showing that Africa’s domestic financial assets total about $4 trillion, but less than 15 percent is directed toward infrastructure projects.
He added that UBA has committed over $102 million in direct investments in Chad, including funding for a $49 million domestic gas project, a $6.7 million wind farm in Amdjarass, road maintenance, telecom modernization and other national projects.
