UBA, British International Investment partner to boost trade finance access across Africa

United Bank for Africa (UK) Limited and British International Investment (BII) PLC have signed a letter of intent to explore collaboration opportunities in trade finance aimed at supporting businesses across Africa.

According to both institutions, the proposed partnership seeks to expand access to trade and working capital facilities, particularly for firms operating in underserved markets on the continent.

In a joint statement issued on Thursday, the institutions noted that limited access to trade finance remained a major structural barrier to African trade.

Many businesses—especially small and medium-sized enterprises—struggle to obtain essential financial instruments such as letters of credit, guarantees and supply chain finance on commercially viable terms.

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This constraint significantly affects their ability to compete in both export and import markets. According to the African Development Bank, Africa’s trade finance gap exceeds US$80 billion annually.

Chief Executive Officer of UBA UK, Lok Mishra, described the agreement as a significant milestone for both the bank and the wider UBA Group.

Managing Director and Head of Africa at BII, Chris Chijiutomi, said the institution remained committed to driving private sector development across Africa.

“Trade finance is a critical enabler of economic growth. Our collaboration with UBA Group, which has an extensive pan-African network and strong institutional relationships, will support efforts to expand access to trade and working capital financing, particularly in frontier markets,” he said.

The partnership is expected to play a key role in unlocking trade opportunities and strengthening the capacity of African businesses to participate more competitively in global markets.

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