UBA UK CEO unveils strategy to bridge Africa's $100bn trade finance gap
UBA UK CEO Loknath Mishra has unveiled a strategy to position the bank at the forefront of efforts to bridge Africa's estimated $100 billion trade finance gap and strengthen cross-border trade flows between the continent and global markets. Mishra emphasized that African trade is growing faster than other regions, with AfCFTA offering a transformative opportunity across 54 countries, 1.3 billion people, and a $3 trillion GDP. UBA UK will leverage its pan-African footprint and London's global financial infrastructure to unlock capital, deepen correspondent banking relationships, and support African corporates and SMEs in accessing global markets. Success will be defined by becoming the first-choice global banking partner for African institutions and international investors, reinforcing UBA Group's commitment to strengthening Africa's integration into global markets. Mishra noted that intra-African trade currently stands at about 12-15%, compared to roughly 60% in Europe, highlighting the enormous runway for growth and the increasing demand for sophisticated trade finance solutions.