Oliver Alawuba, Group Managing Director of United Bank for Africa (UBA) Plc, recently delivered a compelling keynote at the UAE-Chad Trade & Investment Forum in Abu Dhabi, UAE, shedding light on the transformative potential of the $30 billion Chad Connection 2030 plan. The plan, which aims to position Chad at the heart of global economic competitiveness, was presented not merely as a theoretical roadmap, but as a decisive action to elevate both the nation and the continent on the world stage.
Moving from Potential to Execution
In his address, Alawuba addressed a pervasive narrative that has long surrounded Africa — one centered on potential. “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. We are now in the era of execution,” he proclaimed. According to Alawuba, Africa has reached a critical juncture where bold ideas are not only being conceptualized but are actively being put into action.
He pointed to Chad’s $30 billion initiative as a powerful example of how to move from vision to reality. “What we are witnessing in Chad is a masterclass in how to make that shift,” Alawuba remarked, highlighting the nation’s determination to evolve from a peripheral economy to a global player.
A Comprehensive Plan for Sustainable Development
The Chad Connection 2030 plan is a comprehensive blueprint that spans 268 projects across key sectors, including infrastructure, industrialization, and human development. Alawuba emphasized that this initiative is not just a collection of goals but a serious, detailed roadmap to achieve real economic transformation. “It understands a fundamental truth: competitiveness is not born in boardrooms; it is built on the ground,” he explained.
Central to the plan’s vision is the creation of a robust and competitive economy for Chad. Alawuba detailed some of the critical components of the strategy, which include:
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Power Infrastructure: With a target of 60% electrification by 2030, Chad aims to lay the foundation for industrial growth by ensuring a reliable power grid. This will facilitate the operation of factories, improve agricultural cold chains, and foster the growth of the digital economy.
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Water Access: Alawuba highlighted the transformative potential of increasing access to clean water, with a goal to provide water for 11 million more people by 2030. “Safe water reduces healthcare burdens, enables food processing industries, and unlocks agricultural productivity across the value chain,” he explained, underscoring the broader economic and social benefits of this infrastructure development.
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Strategic Investments in Infrastructure: Alawuba also emphasized the importance of infrastructure in driving economic growth. From financing roads to enable better market access to supporting renewable energy projects, he made it clear that infrastructure is the key to unlocking the continent’s potential. “When we finance a road, we finance market access. When we structure a PPP for renewable energy, we finance both climate resilience and energy independence,” he stated.
Financing Africa’s Growth: A Call for Action
A critical message Alawuba shared was that the capital needed to drive Africa’s transformation is already within reach. However, the challenge lies in how that capital is structured and aligned with the continent’s development needs. According to the Africa Finance Corporation (AFC), Africa’s domestic financial assets total approximately $4 trillion — including commercial bank assets, pension funds, insurance assets, and foreign reserves. Yet, less than 15% of these assets are currently invested in productive infrastructure.
“The challenge has never been a lack of capital, but a lack of bankable structures and credible partnerships,” Alawuba stated. At UBA, he emphasized that the bank is committed to bridging this gap by developing sustainable, bankable infrastructure projects that attract both local and international investment.
UBA’s Commitment to Chad’s Development
Alawuba also highlighted UBA’s significant role in financing Chad’s growth. The bank has already committed over $102 million in direct investments in Chad, including support for critical national projects such as a $49 million domestic gas initiative to bring clean energy to households, a $6.7 million wind farm in Amdjarass, and funding for road maintenance and telecom modernization. These investments demonstrate UBA’s deep commitment to Chad’s development agenda and its broader mission of advancing infrastructure and financial inclusion across Africa.
“At UBA, our commitment is two-fold: we are both architects of national infrastructure and champions of grassroots financial inclusion,” Alawuba explained. “Here in Chad, this is not a promise; it is a proven track record.”
The Way Forward: Building Bridges for Economic Progress
Alawuba’s address underscored the importance of collaboration and strategic partnerships in ensuring the successful execution of Africa’s development plans. “We are all in this together,” he said, calling for a collective effort from governments, businesses, and financial institutions to build bridges and power progress across the continent.
The $30 billion Chad Connection 2030 plan is a bold step forward, and Alawuba’s message was clear: the time for action is now. By addressing the infrastructure, energy, and water needs of African countries like Chad, Africa can move from the era of potential to a new phase of economic growth, innovation, and competitiveness on the global stage.
As the African continent continues to embrace its development potential, the Chad Connection 2030 plan represents an opportunity for both Africa and the global community to invest in a sustainable and prosperous future.