UBA Secures N5bn BOI Loan to Boost MSMEs, Women-Owned Enterprises
Africa’s global bank, United Bank for Africa (UBA) Plc, has secured a N5 billion loan facility from the Bank of Industry (BOI) to support the growth of Micro, Small, and Medium Enterprises (MSMEs) across Nigeria, with a strong focus on women-owned businesses and critical sectors of the economy.
The facility, disbursed under the Federal Government’s MSME Fund, is designed to stimulate key sectors including Green Energy, Education, Healthcare, and Women-Owned Enterprises, while providing affordable financing options to entrepreneurs.
UBA’s Group Managing Director/CEO, Oliver Alawuba, said the initiative underscores the bank’s commitment to empowering MSMEs, which he described as the “lifeline of any developing economy.”
“At UBA, we recognize the pivotal role MSMEs play in driving economic development,” he said.
“By offering loans at a competitive 9% interest rate with a three-year tenor, we are removing the traditional barriers that hinder SME growth in Nigeria and Africa. Our message to business owners is simple: Don’t let this once-in-a-lifetime opportunity elude you.”
According to UBA, the facility allows a maximum loan of N5 million per beneficiary, with a three-month moratorium on principal repayment, giving businesses breathing space to stabilise before servicing their loans.
UBA’s Group Head of Retail and Digital Banking, Shamsideen Fashola, emphasised that the scheme will strengthen financial inclusion and accelerate sustainable development in Nigeria.
“For us at UBA, this facility targets Green Energy, Education, Healthcare, and Women-Owned Enterprises. These sectors are critical to Nigeria’s long-term growth, and we are excited to partner with BOI to ensure businesses in these areas access affordable funding and expand their operations,” he said.
On her part, UBA’s Group Head of Marketing and Corporate Communications, Alero Ladipo, urged entrepreneurs—particularly women—to seize the opportunity.
“What sets this program apart is its accessibility and affordability. We have worked closely with stakeholders to ensure the terms are business-friendly because we understand the challenges entrepreneurs face. Eligible businesses should visit any UBA branch or the bank’s official website to begin their application,” she said.
United Bank for Africa, which operates in 20 African countries as well as in the United Kingdom, United States, France, and the UAE, serves over 45 million customers globally. With more than 25,000 employees, the bank continues to play a leading role in financial inclusion and innovative banking solutions across the continent.
