UBA Kenya, a subsidiary of the United Bank for Africa (UBA) Group, partnered with the Nigerian High Commission in Kenya during the inaugural Nigeria in Kenya Business Roundtable event.
This event serves as a remarkable platform for business stakeholders from both Kenya and Nigeria to foster engagement and create promising business prospects.
Kenya and Nigeria are both important players in their respective economies, with Nigeria being the largest economy in Africa and Kenya being a major economic hub in East Africa. As such, there are many opportunities for trade and investment between the two countries.
During the event, Mr. Chike Isiuwe, Managing Director/CEO of UBA Bank Kenya, reiterated the importance of adherence to the law for the ease of doing business, emphasizing UBA’s commitment to compliance and its dedication to supporting the Nigerian Community in Kenya through customized and tailored business solutions.
UBA Kenya is steadfast in its pursuit of empowering businesses and fostering growth opportunities in the Kenyan market and beyond. The bank is actively looking to support businesses across the region and in the 20 African countries, as well as in the United States, United Kingdom, Paris, and UAE, where UBA has a strong presence.
UBA signed an agreement with AfCFTA to promote the development of SMEs operating in Four sectors under the 1st phase of the partnership which are largely import dependent on providing technical and financing solutions for intra-African/domestic alternatives. These economic sectors are Agro-processing, Automotive, pharmaceuticals, Transport and Logistics. One of the key initiatives of the AfCFTA is to improve access to finance and markets for SMEs to encourage their growth and contribution to the socio-economic development of Africa.
Mr. Isiuwe expressed his optimism regarding the immense business opportunities in Kenya and the potential for economic growth witnessed through technology and bilateral trade linkages. He encouraged entrepreneurs from both Kenya and Nigeria to leverage these available opportunities, emphasizing UBA’s readiness to support them in alignment with the respective country-specific laws.
UBA Kenya takes pride in its mission to create a positive impact in the Kenyan market by providing financial access to businesses, advisory services, and market linkages which create employment opportunities, and particularly contributing to the growth of the SME sector through initiatives such as the Tony Elumelu Foundation (TEF). Tony Elumelu Foundation provides seed funding to small entrepreneurs, nurturing their business ventures and propelling economic growth. The impact of TEF is evident in Kenya with about 692 Kenyan entrepreneurs benefitting from this program.
UBA Kenya looks forward to enhancing business growth opportunities in collaboration with trade & investment stakeholders in Kenya while playing an active role in fostering economic development and growth across Africa and beyond.