United Bank for Africa (UK) Limited and British International Investment (BII) have signed a letter of intent to explore trade finance collaboration, seeking to expand access to trade and working capital facilities for African businesses.
Trade finance remains a major structural constraint for businesses across the continent, particularly small and medium-sized enterprises (SMEs), which often struggle to secure letters of credit, guarantees, and supply chain financing on commercially viable terms. The African Development Bank estimates the annual trade finance gap at over USD 80 billion.
Speaking on the collaboration, Lok Mishra said: “The signing of this letter with BII represents a landmark moment for UBA UK and for the UBA Group’s global ambitions. As the Group’s hub for Trade Operations, UBA UK is uniquely positioned to connect African businesses with the international financial system. Working alongside BII, we can extend that capability further — mobilising capital where it matters most and helping to close the trade finance gap that holds back so much African potential.”
Chris Chijiuitomi added: “British International Investment is committed to catalysing private sector growth across Africa, and trade finance is a critical enabler of that growth. We welcome the opportunity to collaborate with UBA Group, whose pan-African network and deep institutional relationships can help advance our ambition to expand access to trade and working capital finance, particularly in frontier markets.”
The initiative aligns with the African Continental Free Trade Area (AfCFTA), which entered into force in 2021 and represents one of the world’s largest trade integration efforts. UBA UK’s extensive network across major AfCFTA economies is expected to support businesses navigating the emerging continental market.
The partnership also complements the UK Government’s broader engagement with African economic development, including commitments made at the UK-Africa Investment Summit, and reinforces London’s role as a leading international finance centre for Africa-focused capital mobilisation.
Future cooperation will depend on further assessment, due diligence, and completion of internal approvals by both institutions.
