UBA secures N5bn BOI loan for female entrepreneurs

UBA has secured a N5 billion loan from BOI to support female entrepreneurs through the Federal Government MSME Fund. The facility aims to stimulate the economy by offering affordable financing to businesses in key sectors like Green Energy, Education, and Healthcare.

UBA's Group Managing Director, Oliver Alawuba, emphasized the bank's commitment to empowering MSMEs, recognizing their role in driving economic development. The loan offers a competitive 9% interest rate and a maximum amount of N5 million per borrower with a moratorium on principal repayment.

UBA's Head of Retail Digital Banking, Shamsideen Fashola, highlighted the strategic importance of supporting these sectors for the nation's growth and financial inclusion. The facility is structured to ensure businesses have access to affordable funding to expand and contribute meaningfully to the economy.

Business owners, especially women, are encouraged to take advantage of this initiative for their financial growth and stability.