The Executive Director and CEO of UBA Africa Abiola Bawuah, who is on an official visit to Kenya has promised to continue empowering Kenyan SMEs through their subsidiary, UBA Kenya in partnership with the government and other stakeholders within and outside the country.
Bawuah, who has a series of meetings with government officials, and stakeholders, as well as a meet-and-greet with UBA Kenya customers has assured the bank’s commitment to exploring new opportunities for growth, expansion, and the fostering of trade and investment across the continent.
“I am particularly reinforcing our focus on advancing the AfCFTA initiative, reaffirming UBA’s $6 billion commitment to SMEs across Africa. This is further supported in line with our partnership with Africa Guarantee Fund (AGF) guarantee lines that will catalyze the bank’s intervention for SME businesses, women-led and environment-friendly businesses, enabling us to further extend our reach and impact,” she said while meeting the Cabinet Secretary for Co-operatives, Small and Medium Enterprises, Wycliffe Oparanya.
“Additionally, the extensive capacity development initiatives planned for our SME customers across 20 African countries align with our vision to empower businesses, drive innovation, and foster sustainable growth,” she added.
The visit of Bawuah comes a few days after UBA Kenya led the way in lowering the Lending Rate for their customers from 16.22 percent per annum to 14.79 percent per annum with effect from 5th March 2025 as part of the move to provide access to credit facilities to SMEs.
CS Oparanya, on his part, acknowledged the initiatives by UBA such as the Tony Elumelu Foundation that has helped empower 792 Kenyan entrepreneurs in Kenya with seed grants of up to USD 5,000 each to grow their business ideas. He assured the lender of the government’s support in ensuring that small businesses in Kenya get the uplift they need.
Related Content: UBA Kenya Moves To Cut Lending Rates To Cushion Borrowers
