UBA Announces N5 Billion Loan to Support Women-Owned Businesses in Nigeria

United Bank Africa (UBA) has announced a N5 billion loan facility to support women-owned businesses in Nigeria, in partnership with the Bank of Industry (BOI). The loan aims to strengthen the key economic sector and encourage the expansion of sustainable and profitable companies, particularly micro, small, and medium enterprises (MSMEs).

The facility, distributed from the Federal Government MSME Fund, is intended to provide reasonably priced funding to assist companies, with a particular emphasis on enterprises in green energy and healthcare. UBA's Group Managing Director, Oliver Alawuba, highlighted the bank's commitment to promoting economic development through this initiative.

The Head of Retail Digital Banking, Shamsideen Fashola, emphasized that the loan facility would improve financial inclusion and support sustainable development. The Group Head of Marketing and Corporate Communications, Alero Ladipo, urged women business owners to take advantage of the program.

UBA, which serves 45 million clients worldwide, aims to promote financial inclusion through technology across 20.