UBA Pledges $150m for Kenyan Roads, Commits to Africa’s Growth

United Bank for Africa (UBA) Plc has pledged $150 cardinal (KES20.5 billion) to Kenya’s Roads Levy Securitisation Programme, reinforcing its committedness to infrastructure improvement and inclusive growth.

Making the announcement during an engagement with the Kenyan authorities successful Nairobi, Group Managing Director and Chief Executive of UBA, Oliver Alawuba, said the money was portion of the $1.35 cardinal inaugural by the Kenya Roads Board, designed to accelerate roadworthy infrastructure upgrades, velocity up payments to contractors, and boost nationalist connectivity.

Received by Kenyan President William Ruto, Alawuba reaffirmed the Bank’s committedness to accelerating concern and supporting inclusive maturation successful the country. The programme aims to upgrade captious roadworthy infrastructure, accelerate payments to contractors, and boost nationalist connectivity.

He noted, “Infrastructure is the motor of trade, competitiveness and shared prosperity. UBA is arrogant to beryllium 1 of the largest financiers of this program, demonstrating our unshakeable assurance successful Kenya’s future.”

Alawuba said  that UBA would proceed to spouse with the state to enactment the advancement of infrastructure development, concern tiny and medium-sized enterprises (SMEs), and enactment its semipermanent economical translation agenda.

He stated, “Kenya holds a strategical spot successful Africa’s maturation story, and UBA is committed to being a semipermanent spouse successful unlocking the immense imaginable here,” Alawuba said. “From financing captious infrastructure to empowering SMEs that thrust occupation creation, our ngo is to present sustainable solutions that link markets, foster trade, and amended lives.”

“Infrastructure is the motor of trade, competitiveness and shared prosperity,” Alawuba said. “UBA is arrogant to beryllium 1 of the largest financiers of this programme, demonstrating our unshakeable assurance successful Kenya’s future.”

The UBA radical CEO besides successful his gathering with the Governor of the Central Bank of Kenya, Dr Kamau Thugge, discussed strengthening fiscal assemblage resilience, enhancing cross-border commercialized done payments innovation, and reinforcing UBA’s beardown superior presumption successful Kenya

Alawuba explained that UBA had the fiscal capableness and expertise to enactment the regulator’s docket for a sound, well-capitalised and competitory banking system.

Alawuba and his squad besides met with the Prime Cabinet Secretary of Kenya, H.E. Musalia Mudavadi, discussing the value of African-led enterprises successful driving occupation creation, innovation, and sustainable growth. Both parties highlighted the request for robust partnerships to beforehand prime infrastructure and determination interconnectivity arsenic foundations for shared prosperity.

“These engagements reaffirm UBA’s committedness to collaborate with governments and stakeholders successful gathering a prosperous, united, and self-reliant Africa,” Alawuba said.

UBA’s engagements successful Kenya bespeak the bank’s broader strategy of driving economical translation crossed the continent and UBA’s strategical imaginativeness to presumption Kenya arsenic a captious hub connecting East Africa and fostering broader determination opportunities done the African Continental Free Trade Area (AfCFTA). With SMEs accounting for implicit 80% of employment successful Kenya, the Bank is rolling retired tailored financing solutions to fortify entrepreneurship and harness opportunities.