Interview: «Cameroon Is A Great Place To Invest»

Tony Elumelu, Group Chairmna, United Bank for Africa, Guest of the Head of State of Cameroon at the Invest In Cameroon Economic Conference.

 

« As the Chairman of United Bank for Africa with presence in 19 African countries and founder of the Tony Elumelu Foundation, it is a pleasure to discuss how to attract and deepen investment in the Republic of Cameroon. It is not only a good time for Cameroon to be having this conversation, it is indeed a smart time to be having it. The giant economies of Africa like South Africa, Nigeria, Angola are dealing with some economic challenges. Foresight and fore planning help countries to manage their economies better.

As a long time banker and entrepreneur, I have learnt how to spot a good investment and I am pleased to affirm to investors that Cameroon is indeed a great place to invest. I speak from experience. UBA serves over 11 million customers in 19 African countries including Cameroon. I started operations in this country in 2008. We have been here ever since. Cameroon was the second country we came to and the first in Francophone Africa. In the short time that we operated in Cameroon, UBA has been making a positive impact in the communities we serve and the country as a whole.

Through our many branches, we are able to create employment not only by lending to customers but also by hiring Cameroonian citizens to help run some of our various operations both within and without. UBA has been able to leverage her foot in Cameroon to recruit and deploy Cameroonians to serve at senior levels in other subsidiaries.   My experience operating 14 branches in Cameroon shows that we have good human capital in Cameroon. We have had to export three people as Chiefs Executive Officers." 

 

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