UBA targets new African deals with London office
The launch of UBA-UK is expected to strengthen the bank’s ability to meet the growing cross-border financing needs. It will also position it as the prime conduit for trade and foreign investments into and across Africa, as well as export flows to the United Kingdom.
Lagos-based banking multinational UBA Group, which operates in Kenya as UBA Kenya, has opened a London office seeking to tap new African deals. UBA group managing director Kennedy Uzoka said the launch of UBA-UK will strengthen the bank’s ability to meet the growing cross-border financing needs, while positioning it as the prime conduit for trade and foreign investments into and across Africa, as well as export flows to the United Kingdom.“With our expansion in London, African countries trade barriers with the UK have been reduced and we now expect top African exporters to the UK will take advantage of the new bank to increase their trade with the now anticipated reduced restrictions,” said Mr Uzoka.
“We are now set to offer UK to Africa direct investment to boost trade between the UK and African countries.”Kenya’s High Commissioner to the UK, Manoah Esipisu, said that Kenyans in the Diaspora could now tap deals.“For Kenyans in the Diaspora, especially those that are small and medium enterprises, there is another avenue for access to credit which is critical to their growth,” said Mr Esipisu.