UBA GMD Oliver Alawuba explains the $30bn Chad Connection 2030 plan’s impact on Africa’s competitiveness, infrastructure, and human development

Group Managing Director of United Bank for Africa (UBA) Plc, Oliver Alawuba, has highlighted the transformative potential of the $30 billion Chad Connection 2030 plan for both African and global economies.

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Speaking at the UAE-Chad Trade & Investment Forum in Abu Dhabi, Alawuba said Africa has moved from being a continent of potential to one of execution.

“For too long, the narrative around Africa has been one of potential. But I stand before you today to declare that the era of potential is over. What we are witnessing in Chad is a masterclass in how to make that shift,” he stated, delivering the keynote on the theme: “Financing African Competitiveness – Building Bridges, Powering Progress.”

He described the Chad Connection 2030 plan as a roadmap to global economic competitiveness, with 268 projects targeting infrastructure, industrialization, and human development.

“Competitiveness is not born in boardrooms; it is built on the ground,” Alawuba emphasised.

Alawuba outlined key pillars of the plan, noting the importance of power, water, and infrastructure:

• Electrification: Chad’s target of 60% electrification by 2030 will enable industrial growth, support agriculture cold chains, and power digital economies.
• Water Access: Ensuring water for 11 million additional people will reduce healthcare burdens, boost food processing, and enhance agricultural productivity.
• Infrastructure & Governance: Financing roads, renewable energy projects, and digital systems strengthens market access, climate resilience, energy independence, and inclusive growth while assuring investor confidence.

He stressed that Africa has sufficient capital, both domestic and international, but the challenge lies in bankable structures and credible partnerships.

According to the Africa Finance Corporation (AFC), Africa holds $4 trillion in domestic financial assets, yet less than 15% is channelled into productive infrastructure.

“At UBA, our commitment is two-fold: we are both architects of national infrastructure and champions of grassroots financial inclusion. In Chad, this is not a promise; it is a proven track record,” Alawuba said.

He highlighted UBA’s investments in Chad, including $102 million in state securities, a $49 million domestic gas project, a $6.7 million wind farm in Amdjarass, and critical funding for road maintenance and telecom modernization.

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“This demonstrates a deep, vested partnership with Chad’s development agenda,” Alawuba concluded.