UBA Partners with African Guarantee Fund to Support SMEs, Women-led Businesses, and Green Finance

The United Bank for Africa (UBA) and the African Guarantee Fund (AGF) have signed a partnership that ensures UBA provides $100 million in new loans to SMEs and business owners in 20 African countries.

The partnership aims to support and guarantee SMEs with a $50 million Portfolio Guarantee and facilitate extensive capacity development for UBA’s customers who run small businesses across the continent, paying special attention to women-led businesses and green finance projects.

UBA’s group managing director, Oliver Alawuba, emphasized the bank’s commitment to supporting SMEs in Africa, particularly women-founded and managed businesses, given its robust network across the continent.

The partnership also includes a $6 billion commitment to SMEs under the AfCFTA initiative, which was announced in September 2024.

The collaboration with the AGF will serve as a catalyst for UBA’s intervention for SME business, women-led, and environmentally friendly businesses, enabling the bank to extend its reach and impact.

The extensive capacity development initiatives planned for UBA’s SME customers across 20 African countries align with the bank’s vision to empower businesses, drive innovation, and foster sustainable growth.

The partnership will also expand UBA’s Green Finance propositions across Africa, as well as engage with governments across the continent to create and activate business environments that are more women friendly.

The group CEO of African Guarantee Fund, Jules Ngankam, highlighted the significance of this partnership between two pan-African institutions that are both at the forefront of catalyzing the growth and development of SMEs.

The collaboration will significantly drive economic growth across the continent.

The partnership between UBA and AGF will unlock crucial financing for SMEs and women-led businesses, enhance capacity development, and promote a more sustainable and inclusive business environment in Africa.