Afreximbank Grants UBA Plc $150 Million Trade Finance Facility

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has received a trade finance facility worth $150m from the African Export-Import Bank

The facility forms part of Afreximbank’s Ukraine Crisis Adjustment Trade Financing Programme for Africa (AKAFPA), and the signing ceremony for the trade finance was concluded by both institutions on the sidelines of the ongoing Intra-Africa Trade Fair organised by Afreximbank in Cairo on Saturday.

The terms of the agreement state that the facility will be utilised to finance trade and trade-related transactions in support of UBA’s clients. In addition, the facility will aid increased financing of trade businesses in various sectors of the Nigerian economy thereby mitigating the adverse effects of the Russia-Ukraine crisis.  

Speaking during the signing ceremony,  the Executive Vice-President of Afreximbank, Denys Denya, said  “The funding is driven by an increased demand for trade finance support to UBA’s clients which will enhance confidence in the settlement of international trade transactions for strategic imports. This is pivotal to Afreximbank’s mandate for supporting SMEs, particularly those in the manufacturing sector to be able to increase production thereby supporting economic growth and development in Nigeria. 

UBA’s Group Managing Director/Chief Executive Officer, Mr. Oliver Alawuba, said “This facility will further boost our quest to deepen intra-African trade which has been severely constrained by the impact of the war in Ukraine.

“We have a long-standing beneficial relationship with Afreximbank, we are delighted with our partnership as we jointly envision better dealings for our customers,” Alawuba said.

UBA is a leading Pan-African financial institution, offering banking services to more than thirty-seven million customers across 1,000 business offices and customer touch points in 20 African countries.

With a presence in New York, London, Paris and the UAE, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and ancillary banking services.

Checkout our FundraiserCRM

FundraiserCRM, by GetFundedAfrica, is your ultimate solution for finding investors and securing venture capital funding for your business. FundraiserCRM, you can significantly increase your chances of long-term growth by expanding your investor network. 

Key Features:

How It Works:

FundraiserCRM operates through three simple steps: 

Sign up: Get started by signing up for a free trial. No credit card is required for the trial period. 

Find Investors: Use powerful AI algorithms to discover potential investors that align with your business goals and objectives. 

Manage and Engage: Once you’ve identified suitable investors, connect and interact with them directly through the platform. Manage your relationships and track your progress towards securing funding. 

Pricing: FundraiserCRM offers a free trial with limited access to investors. For detailed pricing information and to explore the full features, please visit the GetFundedAfrica website or contact their sales team. 

It’s time to accelerate your fundraising journey and propel your business forward. Sign up now for a free trial of FundraiserCRM No credit card is required! Don’t wait; seize this opportunity and unlock the path to success. 

Click here to get started and revolutionize your investor network:

Related Articles

Leave a Reply

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

Back to top button