Last week, I visited Senegal, at the invitation of the President, H.E. Bassirou Diomaye Faye.
Newly elected and one of the youngest leaders in Africa, our shared passion for youth empowerment and economic transformation was the foundation of great conversations. We swapped experiences, shared laughs – and I listened to his ambitious agenda for driving Senegal’s growth.
Much like Nigeria, Senegal pulses with youthful energy. The President exemplifies the country’s vibrant spirit and immense potential. It was heartening to hear H.E. Faye share his plans to champion youth and catalyse the economy – an example we need across Africa.
I expressed my gratitude for the continuous partnership between the Republic of Senegal, the United Bank for Africa (UBA), and the Tony Elumelu Foundation (TEF). Our collaboration has been instrumental in catalysing youth empowerment in Senegal. The government’s support for private sector involvement is commendable, but, as I often say, the private sector must not just think of profit – they must combine profit and social good – this is Africapitalism.
We do business in Senegal, support infrastructure development, energy sufficiency, facilitating trade, enabling growth of SMEs and contributing to financial inclusion through our operations at the United Bank for Africa. In addition, we demonstrate our commitment to Senegal through the impact of the Tony Elumelu Foundation. TEF has supported about 200 young Senegalese men and women, giving them each non-refundable $5,000 seed capital to start their enterprises. Seeing young, driven individuals succeed gives me huge satisfaction.
I hosted some of our esteemed UBA customers in Senegal to an intimate lunch – to appreciate their support and business. It was great listening to our customers share their experience of banking with UBA. I also met with the Board and executive management of UBA Senegal. They are amazing in delivering UBA – Africa’s Global Bank, unique portfolio of products and services to our Senegalese clients.
Before leaving Senegal, I made sure to visit one of our TEF beneficiaries, Racine Sarr, who received the TEF grant in 2015 and has grown his business from a modest start-up to a large e-commerce platform, that connects smaller Senegalese entrepreneurs to global markets and consumers. Today, Racine’s business employs 18 full-time staff, and generated over $1.7 million in annual revenue in 2023 – playing his own part in job creation and national development. This is a testament to what the African youth can do when given the opportunity. This is exactly the impact we drive.
I also met with several other TEF alumni, each making significant strides in their respective industries. Their achievements make us incredibly proud.
Finally, I stopped by our new UBA Headquarters in Dakar to personally thank our UBA people — the bold lions and lionesses who embody our vision of UBA as Africa’s Global Bank. And it was exciting to meet and greet some of UBA customers in the banking hall.
I thanked the leadership, the Board, and the Executive Management of UBA Senegal, especially the CEO, UBA Senegal, Tony Odeigha, and the CEO, UBA Africa, Abiola Bauwah. Thank you for your commitment to our shared vision.
Let’s continue to make an even greater impact together.
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