UBA, BII Sign Letter Of Intent To Explore Trade Finance Collaboration Across Africa

United Bank for Africa (UK) Limited (“UBA UK”) and British International Investment plc (“BII”), the UK’s development finance institution and impact investor, announced that they have signed a letter of intent to develop trade finance collaboration opportunities.

The proposed initiative aims to expand access to trade and working capital facilities for businesses operating across Africa.

Access to trade finance remains one of the most significant structural constraints on African trade. Businesses, particularly small and medium-sized enterprises, are frequently unable to secure letters of credit, guarantees, and supply chain finance on commercially viable terms, limiting their capacity to export and import competitively. This trade finance gap is estimated by the African Development Bank to be over USD 80 billion annually.

To help close this gap, UBA UK, the London subsidiary of UBA Group, Africa’s Global Bank, will leverage its deep relationships across the Group’s 20-country African network to originate and structure trade finance transactions. While BII, with a mandate to support productive, sustainable, and inclusive growth across Africa, can support transactions that might otherwise fall outside conventional commercial appetite.

“The signing of this letter with BII represents a landmark moment for UBA UK and for the UBA Group’s global ambitions. As the Group’s hub for Trade Operations, UBA UK is uniquely positioned to connect African businesses with the international financial system. Working alongside BII, we can extend that capability further — mobilising capital where it matters most and helping to close the trade finance gap that holds back so much African potential,” said Lok Mishra, Chief Executive Officer, UBA UK

“British International Investment is committed to catalysing private sector growth across Africa, and trade finance is a critical enabler of that growth. We welcome the opportunity to collaborate with UBA Group, whose pan-African network and deep institutional relationships can help advance our ambition to expand access to trade and working capital finance, particularly in frontier markets,” Chris Chijiuitomi, Managing Director and Head of Africa

The announcement builds on growing momentum around intra-African trade facilitated by the African Continental Free Trade Area (AfCFTA), which entered into force in 2021 and represents one of the world’s most significant trade integration initiatives. Both institutions have identified the operationalisation of AfCFTA as a priority catalyst for a trade finance facility, with UBA UK’s network across major AfCFTA economies offering a basis for supporting businesses navigating the emerging continental market.

This also complements the UK Government’s broader engagement with African economic development, including commitments made at the UK-Africa Investment Summit, and reinforces the City of London’s role as a leading international finance centre for Africa-focused capital mobilisation.

Future cooperation remains subject to further assessment, due diligence and the completion of internal approvals by both parties.

ABOUT UNITED BANK FOR AFRICA (UK) LIMITED

UBA UK is the London-based subsidiary of United Bank for Africa Plc, one of Africa’s leading financial institutions with operations across 20 African countries, the United Kingdom, the United States of America, France, and the United Arab Emirates. UBA UK serves as the Group’s hub for Trade Operations, providing a comprehensive suite of trade finance, treasury, and correspondent banking services to institutional and corporate clients worldwide.

UBA

ABOUT UNITED BANK FOR AFRICA GROUP

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally. Operating in twenty African countries, the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.

ABOUT BRITISH INTERNATIONAL INVESTMENT

British International Investment is the UK’s development finance institution and impact investor. The organisation invests in businesses in developing countries to improve people’s lives and help protect the planet. BII’s work targets the underlying causes of poverty and the climate crisis, helping countries break free from aid dependency for good.

Between 2022-2026, at least 30 per cent of BII’s total new commitments by value will be in climate finance. BII is also a founding member of the 2X Challenge which has raised over $33.6 billion to empower women’s economic development.

The company has investments in over 1,600 businesses across 66 countries and total net assets of £9.87 billion. For more information, visit: www.bii.co.uk | watch here. Follow British International Investment on LinkedIn, Bluesky and X.

Umahi: Eld Mubarak To Our Muslim Faithfuls

Umahi: Eld Mubarak to our muslim faithfuls. I warmly felicitate with our Muslim brothers and sisters across Nigeria on the joyous occasion of Eid al-Fitr, which marks the successful completion of the holy month of Ramadan.

Eid is a time of deep reflection, gratitude, and renewed commitment to the values of sacrifice, discipline, compassion, and obedience to the will of Almighty Allah. The lessons of Ramadan call us to live in peace with one another, uphold justice, and extend kindness to all, especially the less privileged.

As we celebrate, I urge all Nigerians to continue to embrace unity, tolerance, and mutual respect, which remain essential to our collective progress as a nation. Let us also use this period to pray for the peace, stability, and sustained development of our dear country.

Umahi

On our part at the Federal Ministry of Works, we remain committed to delivering critical infrastructure that connects our people, strengthens economic growth, and improves the quality of life for all Nigerians.

May Almighty Allah accept good prayers and acts of charity, and bless our nation with peace, prosperity, and good health.

Eid Mubarak.

Senator Engr. David Nweze Umahi, CON, FNSE, FNATE
Honourable Minister of Works

EID-EL-FITR: ADC Urges Citizens To Draw Strength From The Values Of Faith

EID-EL-FITR: ADC urges citizens to draw strength from the values of faith. The African Democratic Congress (ADC) has extended Eid-el-Fitr greetings to Nigerian Muslims, urging citizens to draw strength from the values of faith, sacrifice, and resilience despite the country’s current challenges.

In a message signed by its National Publicity Secretary, Mallam Bolaji Abdullahi, the party noted that the lessons of Ramadan should inspire unity, compassion, and a renewed commitment to building a more just, peaceful, and prosperous Nigeria for all.

The full statement read:

As Nigerian Muslims mark the end of Ramadan, the African Democratic Congress (ADC) extends warm Eid-el-Fitr greetings to you and your families.

This season is a reminder that even in the most challenging times, faith, sacrifice, and resilience can restore our confidence in a better tomorrow.

ADC

Across the country today, many families are facing real difficulties, yet the spirit of Ramadan teaches us that hardship does not have the final word, perseverance, compassion, and unity do.

As we celebrate Eid-El-Fitr, which marks the end of the Holy Month, may the values of discipline, generosity, and devotion that defined the past month guide us toward building a more just, peaceful, and prosperous Nigeria for all.

The ADC remains committed to a future where every Nigerian can live with dignity, security, and opportunity.

Eid Mubarak to you and your loved ones!

Mallam Bolaji Abdullahi
National Publicity Secretary
African Democratic Congress (ADC)