UBA Kenya, a subsidiary of the United Bank for Africa (UBA) Group, partnered with the Nigerian High Commission in Kenya during the inaugural Nigeria in Kenya Business Roundtable event.
This event serves as a remarkable platform for business stakeholders from both Kenya and Nigeria to foster engagement and create promising business prospects.
Kenya and Nigeria are both important players in their respective economies, with Nigeria being the largest economy in Africa and Kenya being a major economic hub in East Africa. As such, there are many opportunities for trade and investment between the two countries.
Mr. Chike Isiuwe, Managing Director/CEO of UBA Bank Kenya
During the event, Mr. Chike Isiuwe, Managing Director/CEO of UBA Bank Kenya , reiterated the importance of adherence to law for the ease of doing business, emphasizing UBA’s commitment to compliance and its dedication to supporting Nigerian Community in Kenya through customized and tailored business solutions.
The African Continental Free Trade Area (AfCFTA) has deliver far greater benefits making it a potential game changer for Africa’s economic development.
UBA Kenya is steadfast in its pursuit of empowering businesses and fostering growth opportunities in the Kenyan market and beyond. The bank is actively looking to support businesses across the region and in the 20 African countries, as well as in the United States, United Kingdom, Paris, and UAE, where UBA has a strong presence.
UBA signed an agreement with AfCFTA to promote the development of SMEs operating in Four sectors under the 1st phase of the partnership which are largely import dependent by providing technical and financing solutions for intra-African domestic alternatives. These economic sectors are Agro-processing, Automotive, pharmaceuticals, Transport and Logistics. One of the key initiatives of the AfCFTA is to improve access to finance and markets for SMEs to encourage their growth and contribution to the socio-economic development of Africa.
Mr. Isiuwe expressed his optimism regarding the immense business opportunities in Kenya and the potential for economic growth witnessed through technology and bilateral trade linkages.
He encouraged entrepreneurs from both Kenya and Nigeria to leverage these available opportunities, emphasizing UBA’s readiness to support them in alignment with the respective country-specific laws.
Despite Nigeria’s size and economic dynamism, the Kenyan business community has always seen it as a jungle. For Nigerians, East Africa has a reputation for being sleepy, conservative and slow paced.