28 | The Lion King
News Roundup
UBA to Partner
MIGA on Develop-
ment Infrastructure
Financing in Africa
U
BA is set to partner with Multilateral
Investment Guarantee Agency
(MIGA), the political risk insurance
and credit enhancement arm of the
World Bank Group, to mobilize capital
for important infrastructure projects in
Africa.
Michel Wormser, Vice President and
Chief Operating Officer of MIGA
revealed the collaboration plan with
UBA during a working visit to UBA House
in Lagos.
Speaking during the visit, Wormser
said the proposed partnership with
UBA would explore areas MIGA can
increase its support to UBA towards
increasing its investment into emerging
markets in its countries of operation.
“UBA is playing a prominent role as an
investor in other countries in sub-Saha-
ran Africa, and MIGA can help UBA
increase its investments in these new
markets,” he stated.
UBA Cote d'Ivoire Participates in ECOWAS Summit
U
BA Cote d'Ivoire was given a
position of prominence at the
44th ECOWAS Summit hosted by
the Government of Cote d'Ivoire in
Yamoussokro.
UBA Cote d'Ivoire MD/CEO, Mr. Franklin
Erebor was also among the top level
Ivorian Government delegation that
received President Goodluck Jonathan
on his arrival at the Yamoussokro Airport
for the Summit.
UBA's presence at the summit provided
an excellent opportunity for networking
and discussions on business partnership
opportunities with high ranking officials
from the Government of Cote d'Ivoire.
UBA was able to position itself as the
partner of choice for all major transac-
tions between the Government of CDI
and the Federal Republic of Nigeria.
GMD/CEO, Phillips Oduoza, while
responding said UBA's involvement in
cross border businesses in 19 African
countries means that it is well positioned
to partner with MIGA.
According to him, UBA will collaborate
with MIGA on credit risk management
in big ticket transactions for infrastruc-
ture projects with particular interest in
power and transmission projects.
L-R: Femi Olaloku, Executive Director,
Treasury and International Banking;
Michel Wormser, Vice President and Chief
Operating Officer of the Multilateral
Investment Guarantee Agency (MIGA),
World Bank Group; Phillips Oduoza,
Group Managing Director/CEO, UBA Plc;
and Solomon Adegbie-Quaynor, Country
Manager, Nigeria, Africa Department,
International Finance Corporation (IFC),
World Bank Group
L-R: MD/CEO, UBA Cote d’Ivoire, Franklin Erebor welcoming the President of Nigeria,
His Excellency, Dr. Goodluck Ebele Jonathan, GCFR at the Yamoussokro Airport
