UBA Group donates $500,000 to boost peace, security in African nations

The United Bank for Africa (UBA) has donated $500,000 to the African Union Peace Fund to  boost peacekeeping and security affairs in African nations.

This was disclosed by Chairman of Heirs Holdings and UBA Group, Tony Elumelu, on the sidelines of the 38th ordinary session of the African Union (AU) in Addis-Ababa, Ethiopia.

The donation by UBA reflects the Banking giant’s shared dedication to fostering an environment where businesses and communities can thrive.

“Stability is key to economic growth, and we are proud to support initiatives that create lasting impact. Through our investments, philanthropy, and advocacy we remain steadfast in championing African-led solutions that empower our people, fortify institutions, and build a more secure and prosperous future for all,” A post from Heirs Holdings on Instagram reads.

The African Union Peace Fund (AUPF) was established in June 1993 as one of the operational tools to finance the peace and security activities of the Organization for African Unity (OAU).

The Peace Fund is part of the broader African Peace and Security Architecture (APSA) that, together with the PSC, the African Standby Force, the Military Staff Committee, the Continental Early Warning System, and the Panel of the Wise, works to support the prevention, management, and resolution of conflicts, and facilitates timely and effective responses to conflict and crisis situations in Africa.

The Peace Fund covers more than just the peace support operations. The objective of the endowment is to enable the African Union to fully finance mediation and preventive diplomacy activities, support institutional readiness and capacity, maintain a crisis reserve facility, and enable the AU to meet its commitment to finance 25% of its peace operations budget.