Oliver Alawuba, group managing director and chief executive officer of United Bank for Africa (UBA) Plc, leading a high-powered executive team of the bank on a recent visit to President William Ruto of Kenya, reaffirmed the Africa global bank’s commitment to investment and support for inclusive growth in the East African country.
The reaffirmation was made on the back of a financing deal that saw the bank commit to providing 20.5 billion Kenyan shillings (some $150 million) for Kenya’s Roads Levy Securitisation programme.
President Ruto, who received Alawuba and his team to the State House Nairobi, commended the bank for its support to the country over the years.
Discussions were also held around how UBA will continue to partner with the country towards supporting the advancement of infrastructure development, financing small and medium-sized enterprises (SMEs), and supporting its long-term economic transformation agenda.
“Kenya holds a strategic place in Africa’s growth story, and UBA is committed to being a long-term partner in unlocking the immense potential here,” Alawuba said, adding that, “From financing critical infrastructure to empowering SMEs that drive job creation, our mission is to deliver sustainable solutions that connect markets, foster trade, and improve lives.”
Alawuba who had in his UBA delegation Sola Yomi-Ajayi, executive director/CEO, UBA Africa, and Mary Mulilu, managing director/CEO, UBA Kenya, also held high-level discussions with other key leaders in government and the financial sector in the country.
He met with Kamau Thugge, governor, Central Bank of Kenya, where discussions centered on strengthening financial sector resilience, enhancing cross-border trade through payments innovation, and reinforcing UBA’s strong capital position in Kenya
Alawuba took time to explain that UBA has the financial capacity and expertise to support the regulator’s agenda for a sound, well-capitalised and competitive banking system.
UBA pledged KES 20.5 billion ($150 million) to the Government of Kenya’s Roads Levy Securitization Programme, a $1.35 billion initiative spearheaded by the Kenya Roads Board during a meeting with Davis Chirchir, Kenya’s cabinet secretary for roads and transport. The programme aims to upgrade critical road infrastructure, accelerate payments to contractors, and boost national connectivity.
“Infrastructure is the engine of trade, competitiveness and shared prosperity,” Alawuba said. “UBA is proud to be one of the largest financiers of this programme, demonstrating our unshakeable confidence in Kenya’s future,” he added.
Mary Mulili, managing director and CEO, UBA Kenya, added: “Our participation cements UBA’s role as a trusted ally to the Kenyan government, businesses, and communities. We are paving the way for better connectivity that empowers farmers, manufacturers, and SMEs across the country.”
Alawuba and his team also met with Musalia Mudavadi, prime cabinet secretary of Kenya, where discussions emphasised the importance of African-led enterprises in driving job creation, innovation, and sustainable growth with both parties highlighting the need for robust partnerships to advance quality infrastructure and regional interconnectivity as foundations for shared prosperity.
“These engagements reaffirm UBA’s commitment to collaborate with governments and stakeholders in building a prosperous, united, and self-reliant Africa,” Alawuba said.
UBA’s engagements in Kenya reflect the Bank’s broader strategy of driving economic transformation across the continent and UBA’s strategic vision to position Kenya as a vital hub connecting East Africa and fostering broader regional opportunities through the African Continental Free Trade Area (AfCFTA). With SMEs accounting for over 80 percent of employment in Kenya, the bank is rolling out tailored financing solutions to strengthen entrepreneurship and harness opportunities.
