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SME Guide

UBA Launches $6 Billion Fund to Support African SMEs

The United Bank for Africa (UBA) has announced a new $6 billion fund aimed at empowering small and medium-sized enterprises (SMEs) across Africa. The initiative will provide African SMEs with robust financing solutions to boost their operations and activities.

Through the fund, UBA will offer financing opportunities to SMEs in key sectors including agro-processing, pharmaceuticals, automotive, transportation, and logistics. The goal is to catalyze the growth of African SMEs that are playing a vital role in domestic import substitution.

The new UBA fund stems from a recent partnership between UBA and the African Continental Free Trade Area (AfCFTA) secretariat. Under the collaboration, UBA has committed to making available up to $6 billion in financing to eligible African SMEs over the next three years.

According to UBA Deputy Managing Director Muyiwa Akinyemi, the bank remains committed to supporting African SME growth and development. The partnership with AfCFTA aligns with UBA’s strategic focus on the SME segment as a driver of economic progress across Africa.

In addition to financing, UBA will provide critical non-financial services to build SME capacity. The bank will leverage technology to efficiently deliver financing and empower entrepreneurs with skills for sustainable business practices.

An initial $240,000 in working capital and asset financing will be made available to position SMEs for success amid evolving African markets. With this new fund, UBA reinforces its commitment to the inclusive growth of African economies by ensuring SMEs can access the financing they need to thrive.


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