UBA UK and BII launch Africa trade finance collaboration to expand access to funding and close the $80bn trade finance gap

United Bank for Africa (UK) Limited and British International Investment plc have signed a letter of intent to develop an Africa trade finance collaboration aimed at expanding access to funding for businesses across the continent.

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The agreement seeks to address one of the most persistent barriers to African trade, as companies, particularly small and medium-sized enterprises, continue to face difficulties securing letters of credit, guarantees, and working capital on competitive terms.

According to estimates by the African Development Bank, the trade finance gap in Africa exceeds $80 billion annually, significantly constraining the ability of firms to participate effectively in global and regional markets.

Under the proposed initiative, UBA UK will leverage its extensive network across 20 African countries to originate and structure trade finance transactions.

British International Investment, with its mandate to support sustainable and inclusive growth, is expected to back deals that may fall outside conventional commercial risk appetite.

Chief Executive Officer of UBA UK, Lok Mishra, described the partnership as a landmark step in strengthening the bank’s global ambitions and connecting African businesses to international capital.

“Working alongside BII, we can mobilise capital where it matters most and help close the trade finance gap that holds back African potential,” Lok Mishra said.

On his part, Chris Chijiutomi, Managing Director and Head of Africa at British International Investment, said trade finance remains a critical enabler of private sector growth and welcomed the collaboration with UBA Group’s pan-African network.

The initiative aligns with growing momentum around the African Continental Free Trade Area, which aims to boost intra-African trade and economic integration.

Both institutions identified the operationalisation of AfCFTA as a key catalyst for expanding trade finance solutions across the continent.

The development also complements broader UK engagement with African economies and reinforces the role of London as a major global financial hub for Africa-focused investments.

Future cooperation under the agreement remains subject to further assessments, due diligence, and internal approvals by both parties.