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Zambia and other African countries have been urged to grow their economies through value addition to create the much needed jobs for its citizens.
It was important for Zambia and other African nations to start processing their raw materials to create jobs for its citizens.
This is according to United Bank for Africa (UBA) Group Managing Director Oliver Alawuba.
He said Africa had not handled its resources well and this has to change.
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Alawuba stressed the importance of governments and the private sector to come together and start processing the raw materials from the continent while creating jobs.
He said this during an interactions with the UBA Zambia customers in Lusaka on Tuesday.
“It is important for Africans to know that this continent is rich in natural resources. We have not handled our resources well, we are being a primary economy where we are getting resources and exports all the wealth and go back to import the products.
“That has to change, governments, and the private sector needs to come together and know that we start processing the raw materials we have and create jobs,” he said.
Alawuba also reiterated the bank’s committed to continue assisting Zambia in harnessing its potential to expand growth and create jobs.
He said Zambia had huge potential starting from agriculture to mining.
Alawuba observed the need to harness the growth potential for Zambia, as well as other African countries.
“Zambia has great potential and that is what we saw in 2010 when UBA started a subsidiary in this country and the youthful potential in Zambia, we saw potential in agriculture.
“I am very glad to note that Zambia is self-sufficient and even exports maize. I am also glad to note that Zambia has a strong mining potential and Zambia too has very strong other minerals which should be harnessed,” he said.
He also said UBA would by the end of the first quarter increase its footprints to 10 from the current six, saying “we can do more for Zambia because the potentials are really there.
Alawuba noted that UBA Zambia since it started operations in 2010 had been working in line with the potential for the country.
On his interactions with customers, Alawuba said the bank valued the support and that they made the institution achieve its aspirations.
At the same function, UBA Zambia Managing Director Chinedu Obeta, said the visit by Mr Alawuba signifies the importance the group attached to Zambia.
UBA Zambia Managing Director Chinedu Obeta.
Obeta explained that the group managing director was here to get feedback from the customers.
“Our Group Managing Director is trying to engage stakeholders and customers to build up a bridge and tell them that UBA is here to support them and get feedback from them so that we can process it and save our customers better.
“As a bank, we have so many things we are doing to support Small and Medium Enterprises (SME). One thing about UBA is that we believe nobody will tell the story of Africa other than Africans and we have products we are leveraging to support SMEs,” he said.
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