UBA Banks on Technology to Spur Growth in Africa

United Bank for Africa (UBA) Plc, Africa’s Global Bank, has once again reiterated its unwavering commitment to increase its investment in cutting edge technology and training to support the growth of Small and Medium scale Enterprises (SMEs) in Nigeria and across Africa, which will in turn help them contribute meaningfully to their economies and the continent as a whole.

Oliver Alawuba, GEO/Managing Director at United Bank for Africa PLC

The bank gave this pledge during the 38th Lagos International Trade Fair, at Tafawa Balewa Square, in Lagos.

Shamsideen Fashola, group head, Retail and Digital Banking, UBA, who addressed participants at the event, said: “The banks investment in cutting edge technology are currently yielding tangible business value, and this high level commitment has proven to be instrumental in delivering enhanced customer experiences and optimising operational efficiency, all of which continues to yield positive outcomes from all areas of our business.”

This feat, Fashola noted, continued to engender their growth and success stories, as well as reinforce the bank’s passion and commitment to support SMEs at every step of their journey.

According to him, “it is for this reason that we are constantly evolving, with innovation and are very intentional in our investment in cutting edge technology, dedicated to putting the power to succeed in the hands of our customers as it concerns our wide range of products”.

“To this end, it is safe to say, we are relentless in advancing the growth of SMEs, and that is why we want to further equip them with what they need to achieve even more, by introducing the UBA SME Card—a bespoke financial solution designed specifically for SMEs.

“This card is primely dedicated to empowering business owners by providing seamless access to financing, efficient expense management, and exclusive benefits tailored to help streamline operations. With the UBA SME Card, we aim to equip our entrepreneurs with the necessary tools to thrive in an increasingly competitive landscape.”

Fashola also emphasised UBA’s impressive footprint across over 20 African nations and its strategic partnership with the African Continental Free Trade Area (AfCFTA).

With our presence in 20 African countries, where we have consistently driven rapid growth for the continent, UBA is dedicated to fostering intra-African trade, as seen in our partnership with AfCFTA, recognizing its critical importance for sustainable economic growth on the continent,” he said.

“By facilitating crossborder trade and investment, we are not only helping businesses expand their reach but also contributing to the overall economic integration of Africa,” Fashola explained.

Babatunde Ajayi, head of SME Banking,UBA, also underscored the critical need for comprehensive SME support, highlighting UBA’s strategic approach to providing enhanced capital access and targeted financing solutions that address financing disparities for small businesses, as well as women and youth entrepreneurs.