United Bank for Africa (UBA) has reaffirmed its commitment to financing the continent’s infrastructure development, pledging to support the ambitious $30 billion Chad Connection 2030 development plan.

Speaking at the UAE-Chad Trade and Investment Forum in Abu Dhabi on Monday, UBA’s Group Managing Director, Oliver Alawuba, emphasised that the era of African potential had given way to an era of execution, citing Chad’s comprehensive development blueprint as a masterclass in transformative economic planning.

The Chad Connection 2030 plan comprises 268 projects targeting infrastructure development, industrialisation, and human capital advancement, with key objectives including achieving 60 per cent electrification by 2030, providing water access to 11 million additional people, and doubling agricultural production.

Alawuba revealed that it had already committed over $102 million in direct investments in Chad’s securities and served as lead financier on critical national projects. These include a $49 million domestic gas project geared at bringing clean energy to households, a $6.7 million wind farm in Amdjarass, and essential funding for road maintenance and telecommunications modernisation.

“When we look at Chad’s targets – 60 per cent electrification, water for 11 million people, the doubling of agricultural production – we do not see insurmountable challenges. We see a portfolio of bankable projects,” the GMD stated.

The bank’s leadership highlighted a critical gap in African development financing, noting that while the continent’s domestic financial assets total approximately $4 trillion according to the Africa Finance Corporation (AFC), less than 15 per cent are currently channelled into productive infrastructure.

“The challenge has never been a lack of capital, but a lack of bankable structures and credible partnerships, including huge domestic capital misalignment,” the GMD explained.