NAIROBI — United Bank for Africa (UBA) Kenya has committed KSh38 billion ($285 million) in fresh lending to small and medium-sized enterprises, a move its chief executive says will help local businesses break into wider African markets.
Mary Mulili, UBA Kenya’s CEO, announced the package at a trade facilitation forum in Nairobi, describing SMEs as the “heartbeat of Kenya’s trade growth.” She said the bank’s focus would be on working capital and asset financing, targeting sectors such as agribusiness, transport, logistics and cross-border commerce.
“This is about ensuring that Kenyan SMEs have both the resources and the networks to seize opportunities under the African Continental Free Trade Area (AfCFTA),” Ms Mulili told participants. “It’s about building capacity and closing trade gaps.”
The pledge is part of UBA’s $6 billion pan-African commitment to support businesses across its 20-country network. In Kenya, the bank said it would prioritise exporters and importers looking to scale operations beyond national borders.
A central pillar of the initiative is UBA’s partnership with the Africa Trade Gateway (ATG), a digital platform developed by Afreximbank. The system is designed to streamline payments, currency exchanges and trade financing—longstanding hurdles for African commerce.
By tapping into the Pan-African Payment and Settlement System (PAPSS), the platform allows cross-border payments in local currencies. This, UBA says, eliminates costly foreign exchange processes and brings real-time transactions across multiple African markets at lower fees.
Mulili likened the system to “financial highways across the continent,” allowing Kenyan exporters to sustain banking relationships regardless of where they operate.
Analysts see the move as part of a broader push towards financial integration on the continent. With AfCFTA’s promise of a single market for goods and services, banks and governments are under pressure to dismantle barriers that have held back trade.
For SMEs, the package will include customised loans aligned to trading cycles, tools to manage currency risks, and instant transfer capabilities. Mulili urged Kenyan businesses to join the ATG’s verified business community, calling it an opportunity to “connect, trade and grow on the continent and beyond.”
While challenges remain—from uneven regulation to persistent infrastructure gaps—bankers and traders alike see the initiative as a step towards making Africa’s long-discussed trade potential a reality.
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