UBA To Empower Female Entrepreneurs, Drive Financial Inclusion With N5bn BoI MSME Fund – Independent Newspaper Nigeria

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 The United Bank for Afri­ca (UBA) Plc 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 micro, small, and me­dium enterprises (MS­MEs) owned by women.

The facility disbursed through the Federal Gov­ernment’s MSME Fund, is designed to stimulate key sectors of the econo­my, while offering afford­able financing to support businesses, with a prima­ry focus on green energy, education, healthcare, and women-owned enter­prises.

UBA’s Group Manag­ing Director/CEO, Oliver Alawuba, who spoke about the facility emphasised the bank’s commitment to fostering economic growth by empowering MSMEs, which he described as the “live-wire of any develop­ing economy.”

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 oars 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,”

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 Head of Retail and Digital Bank­ing, Shamsideen Fashola, who highlighted the stra­tegic importance of the targeted sectors to the na­tion’s continued growth, noted that the initiative will strengthen finan­cial inclusion and set the country and indeed the continent on the path of sustainable development.

“We are structuring this facility to align with our broader mission of financial inclusion and economic empowerment. For us at UBA, we will be targeting green energy, education, healthcare, and women-owned enter­prises, which are critical to Nigeria’s sustainable development,” he noted.

Continuing, he said, “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.”