The Chairman, United Bank for Africa (UBA) Plc, and Founder, Tony Elumelu Foundation (TEF), Mr. Tony Elumelu, has stressed the need for global organisations and multinational institutions to support the much-needed growth in the African continent; adding that ultimately, such growth will affect the world positively.
Elumelu, who pointed this out on the side-lines of the 2018 World Economic Forum currently ongoing in Davos, Switzerland, said organisations must come together to provide solutions to key challenges negatively impacting African economies, especially with regards to power supply and infrastructural challenges which are the major issues that the economies have had to grapple with.
Speaking specifically about the challenge of power supply on the continent, he said, “Under the Obama administration the Power Plan programme was initiated, which helped in a number of ways. However, now, we have a number of investors, like the Transcorp Power Plc, that is working hard to improve power in the continent in the 21st century. The truth is we have a new crop of investors who know and realise that it is important to have access to power to grow the continent, and our governments have keyed into this.