Tuesday, September 3, 2013

Nigeria's United Bank for Africa looking to invest $2 billion into African power sector

(Reuters) - Nigeria's United Bank for Africa (UBA) has invested US$700 million this year financing power assets in Africa's second biggest economy and is looking to put US$2 billion into power projects across the continent over the next three years, CEO Phillips Oduoza told reporters on Tuesday.

Oduoza also said he expected the bank to grow loans by around 14 percent in the next six months, as it had done in the last six months.

Nigeria is reforming its electricity sector in a

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