UBA, BII partner to boost trade finance access across Africa

United Bank for Africa and British International Investment have signed a letter of intent to explore trade finance collaboration aimed at expanding access to funding for businesses across Africa.

The agreement, announced on Friday, seeks to address the continent’s persistent trade finance gap, estimated at over $80 billion annually by the African Development Bank, which continues to limit the ability of small and medium-sized enterprises to participate effectively in international trade.

Under the proposed arrangement, UBA UK — the London subsidiary of the UBA Group — will leverage its network across 20 African countries to originate and structure trade finance transactions. BII, on the other hand, will support deals that may fall outside traditional commercial risk appetite, particularly in frontier markets.

Speaking on the development, UBA UK Chief Executive Officer, Loknath Mishra, described the partnership as a significant step toward connecting African businesses with global financial systems.

“The signing of this letter with BII represents a landmark moment for UBA UK and for the UBA Group’s global ambitions,” he said, noting that the collaboration would help mobilise capital where it is most needed.

Also commenting, Chris Chijiutomi said the initiative aligns with BII’s commitment to supporting inclusive and sustainable economic growth across Africa.

“Trade finance is a critical enabler of that growth. We welcome the opportunity to collaborate with UBA Group to expand access to working capital, particularly in underserved markets,” he said.

The partnership is expected to complement ongoing efforts under the African Continental Free Trade Area, which aims to boost intra-African trade and economic integration.

Both institutions noted that further cooperation would depend on due diligence and internal approvals, as they work towards unlocking financing opportunities for businesses navigating Africa’s evolving trade landscape.