• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

UBA approves $6bn to boost SMEs in Africa

Cyrus Ademola by Cyrus Ademola
September 25, 2023
in Business News, Small Business
UBA
Share on FacebookShare on TwitterShare on Linkedin

United Bank of Africa (UBA) has launched a $6 billion financing initiative aimed at boosting the growth of Small and Medium Enterprises (SMEs) throughout Africa.

This initiative is designed to provide funding access to SMEs in the Agro-processing, Pharmaceuticals, Automotive, Transport, and Logistics sectors, facilitating their expansion.

UBA has joined forces with the African Continental Free Trade Area (AfCFTA) secretariat to launch the financing initiative.

RelatedStories

UBA to complete CBN’s N500 billion capital requirement in Q3 2025 amid business expansion plans – Tony Elumelu 

UBA to complete CBN’s N500 billion capital requirement in Q3 2025 amid business expansion plans – Tony Elumelu 

April 26, 2025

Nigerian banks spent N518.5 billion on IT in 2024 as digital banking, cybersecurity drive boom

April 25, 2025

This initiative aims to deliver $6 billion in funding to eligible SMEs throughout Africa within the next three years

The agreement was signed on the sidelines of the 30th Afreximbank Annual Meeting (AAM) held in Accra, Ghana.

By the agreement, UBA and AfCFTA will, under the first phase of the partnership, promote the development of SMEs by providing technical and financing solutions for intra-African/domestic alternatives.

UBA’s Deputy Managing Director, Muyiwa Akinyemi, who represented the bank during the signing, emphasized UBA’s dedication to bolstering the progress of SMEs throughout Africa, underscoring its status as the continent’s global bank.

  • “This is in line with our strategic focus on the SME segment being a catalyst for the economic development of Africa,” he said.

Muyiwa further said,

  • “Under this partnership, UBA will go beyond just financing to provide non-financial services to these SMEs to develop the capacity for growth across the 20 African countries that we are present and build sustainable business practices.
  • We shall also be leveraging technology to deliver our financing activities to the beneficiaries and this platform provides us with a unique opportunity to stimulate the development of the continent as Africa’s Global Bank.

More Insights

In addition, Alero Ladipo, UBA’s Group Head of Marketing and Corporate Communications, underscored the bank’s commitment to offering $240,000 in financing.

This support will be extended through a mix of working capital loans and asset finance loans, with the ultimate goal of positioning these enterprises for success in Africa’s evolving business landscape.

She explained that the SMEs in the particular sectors of Agro-processing, Automotive, pharmaceuticals, Transport, and Logistics, will be able to access a working Capital Loan by way of Overdrafts and Short-Term Loans with a maximum value of $120,000 in each of their country’s local currency; and asset Finance Loan of up to $120,000 in the local currency of the obligor, to use for the acquisition of operational assets and equipment to meet their business expansion needs.

Apart from financial assistance, she stressed the bank’s dedication to empowering SMEs by offering a range of training initiatives and valuable resources.

UBA’s goal is to equip these businesses with the expertise and capabilities required to excel in a fiercely competitive market.

She said,

  • “UBA recognizes the critical role that SMEs play in driving economic growth and job creation. To facilitate their growth and success.
  • To this end, We are proud to be at the forefront of driving entrepreneurship in Africa. Our partnership with AfCFTA and our commitment to SMEs in these critical sectors reflect our dedication to the economic transformation of our continent.
  • We believe that this initiative will not only benefit individual businesses but will also contribute significantly to the overall development and prosperity of Africa.”

Follow us for Breaking News and Market Intelligence.
Tags: SMEsUBA
Cyrus Ademola

Cyrus Ademola

  • Cyrus Ademola is an energy and economy analyst with over half a decade experience in journalism, research-based oped, economic reportage and energy analysis. His works have been featured on different media outlets, covering from oil and gas to business trends.

Related Posts

UBA to complete CBN’s N500 billion capital requirement in Q3 2025 amid business expansion plans – Tony Elumelu 
Companies

UBA to complete CBN’s N500 billion capital requirement in Q3 2025 amid business expansion plans – Tony Elumelu 

April 26, 2025
Exclusives

Nigerian banks spent N518.5 billion on IT in 2024 as digital banking, cybersecurity drive boom

April 25, 2025
H1’24: UBA grows earnings by 40% to N1.37 trillion, breaks record on interim dividend
Breaking News

UBA’s pre-tax profit surges by 30.65% to N204.27 billion in Q1 2025 

April 23, 2025
Ranking Nigerian Banks that have declared the most dividend in 5 years
Financial Analysis

Government earned N1.2 trillion from Nigerian banks in 2024, more than shareholders 

April 23, 2025
Tony Elumelu’s companies record N278.8 billion capital gains in 2 days 
Billionaire Watch

Billionaire investor, Tony Elumelu to get N12.71 billion in UBA dividend for 2024 

March 29, 2025
H1’24: UBA grows earnings by 40% to N1.37 trillion, breaks record on interim dividend
Corporate Updates

Full Year 2024: UBA grows profit to N804 billion, declares N3.00 Kobo final dividend

March 24, 2025
Next Post
Nigerian Navy disowns list of successful candidates for Batch 35 recruitment

Nigerian Navy disowns list of successful candidates for Batch 35 recruitment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Zenth Bank
Emple
first bank
Zenth Bank








DUNS

Recent News

  • UTME 2025: JAMB to reconduct exams for candidates in 157 centres starting May 16 
  • All-Share Index holds above 109,000 as daily volume climbs; GTCO, ACCESSCORP lead activity 
  • FT ranks fintech unicorn, Moniepoint, Transcorp, 15 Nigerian Firms among Africa’s Fastest Growing companies 2025 

Follow us on social media:

Recent News

2025 UTME: JAMB to investigate mass complaints over low scores and technical issues 

UTME 2025: JAMB to reconduct exams for candidates in 157 centres starting May 16 

May 14, 2025
Weekly Stock Update: Nigerian Exchange Group record growth w-o-w, up by 0.48%

All-Share Index holds above 109,000 as daily volume climbs; GTCO, ACCESSCORP lead activity 

May 14, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics