October - December 2016 •
The Lion King
• 11
Milestones
UBA Cameroon to Finance
Construction of Olembe
Stadium
U
BA Cameroon on Tuesday,
December 27, 2016 in Yaounde
signed a landmark agreement
with the Government of Cameroon to
provide a loan of XAF 24.5 billion. This
loan constitutes part of the funding for
the construction of the ultra-modern
Olembe Stadium complex that will
be used for the 2019 Africa Cup of
Nations to be hosted by Cameroon.
L-R: Minister of Economy, Planning & Regional Development, Cameroon, Mr. Louis Paul Motaze; Minister of Finance, Cameroon, Mr. Alamine Ousmane Mey;
MD/CEO, UBA Cameroon, Mr. Isong Udom; Minister of Sports & Physical Education, Cameroon, Mr. Bodoung Mkpatt and UBA Cameroon Chairman, Mr. Ekoko
Mukete at signing ceremony
The historic signing ceremony took
place at the Ministry of Finance build-
ing in the presence of the Minister
of Finance, Mr. Alamine Ousmane
Mey; the Minister of Economy,
Planning & Regional Development,
Mr. Louis Paul Motaze and the Minister
of Sports & Physical Education, Mr.
Bodoung Mkpatt. UBA was represent-
ed at the event by the Chairman,
UBA Cameroon, Mr. Ekoko Mukete;
MD/CEO, Mr. Isong Udom and some
Executive Committee members.
The Minister of Finance Mr. Alamine
Ousmane Mey lauded the signing of
the agreement and appreciated UBA
for the support. He posited that such
partnerships between the private and
public sectors are essential for infra-
structural development and econom-
ic growth of the country.
UBA has actively participated in sever-
al infrastructure development projects
in Cameroon. The bank is playing a key
role in the financing of Cameroon’s
economy by lending to key corporate
and parastatal companies. About XAF
125 billion has been disbursed as cred-
it to the economy. These remarkable
efforts contributed to UBA Cameroon’s
selection for the prestigious KPMG Best
Customer Service Bank Award 2015
and the highly converted Financial
Times of London Award for Best Bank
in Cameroon for 2016.
