Pan-African banking group United Bank for Africa (UBA) is eyeing funding opportunities for projects in the “Big Four” sectors of the economy, identified as the legacy development areas for President Uhuru Kenyatta.
UBA Group executive director for East and Southern Africa Emeke Iweriebor said the bank would consider funding requests from the private sector for projects touching on the Big Four development pillars (Universal healthcare, manufacturing, food security and affordable housing).
“UBA Group and its Kenyan franchise are ready to help, especially as it concerns infrastructure development,” said Mr Iwerierbor at a press conference in Nairobi.
“We have strong confidence in Kenya and East Africa as their economies have great potential for growth and development. That is why we created a regional office in Nairobi,” said Mr Iweriebor.
UBA Kenya managing director Isaac Mwige hailed ongoing public-private sector engagements on the Big Four pillars saying the group has adequate funds to finance big-ticket transactions.
Mr Mwige said the bank has recently signed partnership agreements with international development institutions to support macro and small-scale businesses across Africa to scale up their businesses
“UBA wants to replicate the interventions that worked in other African countries here especially on the provision of financial support to power and energy sectors, road infrastructure, agriculture, small, medium and large enterprises and entrepreneurship,” Mr Iweriebor added.
The bank started in 2009 has three branches in Kenya with the main headquarters and branch based at Apollo Centre, Westlands with two other outlets at Upper Hill Branch(NHIF building) and in Industrial Area along Enterprise Road in Nairobi.
Mr Iweriebor said with Kenya’s digital payment penetration reaching 80 per cent of the adult population, they would leverage on their online platform to deepen access to credit for individual customers, SMEs and corporates.