UBA's Alawuba Strengthens UK Trade Finance Ties

During President Bola Ahmed Tinubu's state visit to the United Kingdom, Olisa Alawuba, the Group Managing Director and CEO of United Bank for Africa (UBA), participated in strategic engagements aimed at enhancing Nigeria's banking sector and international trade finance. The visit included discussions with top banking executives and policymakers, emphasizing the need for better capitalization of Nigerian banks to create a robust framework for international capital engagement.

Alawuba highlighted that 65% of UBA's revenue comes from outside Nigeria, underscoring the importance of Nigerian banks in shaping global financial conversations. A significant outcome of the visit was the agreement between UBA and British International Investment (BII) to collaborate on expanding access to trade finance across Africa, addressing an estimated $80 billion annual financing gap for small and medium-sized enterprises (SMEs).

Alawuba also hosted representatives from the Nigerian diaspora, including NIDCOM's Abike Dabiri-Erewa, to discuss opportunities for economic partnerships and support for businesses in Nigeria.