Africa’s global bank, United Bank for Africa (UBA)
Plc, has secured a ?5 billion loan facility from the Bank of Industry
(BOI) to stimulate key sectors of the Nigerian economy, with a strong focus
on micro, small, and medium enterprises (MSMEs), particularly those
owned by women.
The facility, disbursed under the Federal
Government’s MSME Fund, is designed to support sustainable and viable
businesses in strategic sectors such as Green Energy, Education, Healthcare,
and Women-Owned Enterprises.
UBA’s Commitment to MSMEs
UBA’s Group Managing Director/CEO, Oliver Alawuba,
described the initiative as part of the bank’s unwavering commitment to
fostering economic growth through SME empowerment.
“At UBA, we recognize the pivotal role MSMEs play in
driving economic development. They make up a sizeable portion of what drives
our economy,” Alawuba said.
“By offering loans at a competitive 9% interest rate with a three-year tenor,
we are removing traditional barriers that hinder SME growth in Nigeria and
Africa. Our message to business owners is simple: don’t let this
once-in-a-lifetime opportunity elude you.”
The loan facility provides a maximum of ?5 million
per business, with a three-month moratorium on principal repayment,
giving businesses time to stabilise before commencing loan servicing.
Driving Financial Inclusion and
Sustainable Growth
UBA’s Group Head of Retail and Digital Banking, Shamsideen
Fashola, said the initiative aligns with the bank’s broader mission of
financial inclusion and sustainable development.
“We are targeting critical sectors like Green
Energy, Education, Healthcare, and Women-Owned Enterprises, which are
essential to Nigeria’s future growth,” Fashola noted.
“This facility ensures that businesses in these sectors can access affordable
funding, expand operations, and contribute meaningfully to the economy.”
Also speaking, UBA’s Group Head of Marketing and
Corporate Communications, Alero Ladipo, highlighted the competitive
interest rate and government backing as key advantages of the programme.
“What sets this program apart is its accessibility and
affordability,” she said.
“We worked closely with stakeholders to make the terms business-friendly
because we understand the challenges entrepreneurs face. I encourage eligible
businesses, especially women, to take advantage of this initiative by visiting
any UBA branch or our official website.”
About UBA
UBA is one of Africa’s leading financial institutions,
employing over 25,000 staff and serving more than 45 million
customers worldwide. The bank operates in 20 African countries as
well as the United Kingdom, United States, France, and the United Arab
Emirates, offering retail, commercial, and institutional banking services
while driving financial inclusion and digital banking innovation.
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