•UBA’s Group Managing Director/CEO, Oliver Alawuba
United Bank for Africa (UBA) Plc is beckoning business owners in Green Energy, Education, Healthcare, and Women-Owned Enterprises to come forward to obtain a loan from the N5 billion BoI MSME fund to expand their operations and contribute meaningfully to the economy.
The facility provides a maximum loan amount of N5 million per obligor, with a three-month moratorium on principal repayments, ensuring businesses have ample time to stabilise before they begin to service the loans.
UBA’s Group Managing Director/CEO, Oliver Alawuba, in a statement, said that the Bank has secured a N5 billion loan facility from the Bank of Industry (BOI), to boost key sectors of the economy and support the growth of sustainable and viable businesses in the country, especially the targeted sectors.
He said, “At UBA, we recognise the pivotal role MSMEs play in driving economic development, and how they make up a sizeable portion of what drives our economic growth.
It is in this vein that we have decided not to rest on our laurels by facilitating initiatives dedicated to empowering businesses with the financial support they need to thrive.”
Alawuba maintained that, “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. And by this, our message to business owners is simple: Don’t let this once-in-a-lifetime opportunity elude you.
UBA’s Group Head of Retail and Digital Banking, Shamsideen Fashola, added “This facility is structured to ensure that businesses in these sectors can access affordable funding, expand their operations, and contribute meaningfully to the economy. We are excited to partner with BOI to make this a reality.”
Group Head, Marketing and Corporate Communications, Alero Ladipo, said “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.
I urge eligible businesses to visit any UBA branch or the bank’s official website to begin their application process right away.”
