January 27, 2023



UBA Group pledges to develop SMEs, remodel fee panorama through PAPSS

United Financial institution for Africa (UBA) Plc has stated that it’s dedicated to the expansion of Small and Medium Enterprises (SMEs) throughout Africa as evidenced within the elevated funding it has offered to such companies in Nigeria and throughout Africa.

The Deputy Managing Director, Muyiwa Akinyemi, stated this whereas delivering his keynote deal with on the flag-off of the 2022 Lagos Worldwide Commerce Honest. UBA has been the lead sponsorship associate for the annual occasion since 2019.

Talking on the theme: “Connecting Companies, Creating Worth” , Akinyemi defined that armed with the agency perception that SMEs stays the bedrock of any nation’s financial improvement, UBA has pioneered services particularly focused at SMEs and younger entrepreneurs in direction of assembly their monetary wants, getting access to markets and constructing capability.

“We’re targeted on creating worth, connecting and facilitating enterprise throughout Africa and between Africa with the remainder of the world. Already, we have now performed a commerce of about $7.7bn and Export commerce of about $29.4bn as at August 2022,” he stated.

“It should additionally curiosity you all to know that we match our phrases with motion as we have now supported a whole bunch of SMEs in Africa particularly in international locations the place we have now presence. UBA does this not solely within the manufacturing and providers sectors but additionally within the inventive business and Fintech,” the DMD continued.

He additionally spoke on the Pan African Cost Settlement System (PAPSS), a centralised fee and settlement system for intra-African commerce in items and providers that’s poised to remodel the fee panorama throughout Africa.

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Earlier in his deal with, Lagos State Governor, Babajide Sanwo-Olu, appreciated UBA’s efforts and assist to SMEs which have considerably impacted the expansion of companies in Lagos and past.

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