Ghanaian SMEs to benefit from $300,000 of UBA’s $6bn investment pool

Ghanaian small and medium enterprises (SMEs) are to benefit from a $6 billion investment pool from the United Bank for Africa (UBA) Plc.

The Bank in partnership with the African Continental Free Trade Area (AfCFTA) Secretariat will inject $6 billion into funding SMEs across the continent.

Group Managing Director and CEO, Oliver Alawuba, who used to head the Ghana office disclosed that Ghanaian SMEs are set to benefit from approximately $300,000 of this investment.

“Our primary focus is to be the payment bank for capital flow, trade, and investment between Africa and the rest of the world,” Mr Alawuba stated.

He said this during the global launch of Africa’s Global Bank, marking its 75th anniversary with a grand celebration at its headquarters in  Lagos, Nigeria.

He emphasised UBA’s commitment to driving growth through innovation and digital transformation.

This milestone coincides with UBA Ghana’s 20th anniversary, following its merger with Standard Trust Bank in 2005, marking its first subsidiary outside Nigeria.

During the launch event, Mr Alawuba highlighted the bank’s significant achievements noting many firsts.

Notably, UBA was the first Nigerian bank to list on the Nigerian Stock Exchange and remains the only sub-Saharan African bank with a deposit-taking license in the United States.

He also underscored the bank’s dedication to sectors such as education, healthcare, entrepreneurship, and environmental sustainability.

Reflecting on UBA’s journey, Alawuba praised the bank’s evolution into a global financial powerhouse, with a presence in 20 African countries and four major international financial hubs: New York, London, Paris, and Dubai.

The bank proudly serves over 35 million customers and operates with a workforce of 25,000 employees, alongside a network of over 250,000 Point of Sale (PoS) terminals.

Group Deputy Managing Director, Muyiwa Akinyemi touted the credentials of the UBA with respect to meeting customer needs, noting that “our commitment to exceptional customer experience as well as our financial strength and resilience over the years has been key to our success. Our robust performance, especially over the last couple of years, underscores our sound strategies and commitment to operational excellence.”

 UBA will remain committed to enhancing the experience of its customers across all touchpoints while solidifying the bank’s position.

“We are committed to offering value that enhances the experience of our customers, while solidifying our position as a forward-thinking institution,” he assured.