UBA, British International Investment Move to Boost Trade Finance Across Africa

United Bank for Africa and British International Investment have taken steps toward a strategic partnership designed to strengthen trade finance across the African continent.

The two institutions signed a letter of intent in London on March 16, 2026, outlining plans for UBA’s UK arm to work closely with BII in expanding access to trade and working capital, especially for small and medium-sized enterprises (SMEs).

Limited access to trade finance continues to hinder business growth in Africa, with many companies struggling to obtain essential financial instruments such as letters of credit, guarantees, and supply chain funding at competitive rates. According to the African Development Bank, the continent faces a yearly trade finance shortfall exceeding $80 billion.

Under the proposed arrangement, UBA UK will utilise its presence in over 20 African countries to originate and structure trade deals, while BII will provide support for transactions that fall outside the risk thresholds of traditional commercial lenders. This approach aligns with BII’s mission to promote inclusive and sustainable economic growth.

UBA UK CEO, Lok Mishra, described the initiative as a significant step in advancing the bank’s global strategy, noting that it would help channel capital into underserved markets and unlock Africa’s trade potential.

Similarly, Chris Chijiutomi said the partnership reflects BII’s commitment to driving private sector development, emphasising that trade finance plays a vital role in economic expansion, particularly in emerging markets.

Both organisations also highlighted the importance of the African Continental Free Trade Area, describing it as a key driver for scaling trade finance solutions and enhancing intra-African trade.

The initiative further supports broader economic ties between the UK and Africa, reinforcing London’s position as a major financial hub for Africa-focused investments.

However, both parties clarified that the partnership is still subject to further evaluations, due diligence, and internal approvals before full implementation.