AfCFTA trade finance trade finance gap United Bank of Africa UK 19-02-2026UBA to address Africa’s US$100bn trade finance gapThe Chief Executive Officer of United Bank for Africa UK, Loknath Mishra, has set out a strategic plan aimed at positioning the bank at the forefront of efforts to help close Africa’s estimated US$100bn trade finance gap and strengthen cross-border trade between the continent and global markets.Speaking on Global Business Report on Arise TV, Mishra detailed an approach centered on leveraging UBA’s pan-African network and international banking platform. The strategy focuses on unlocking capital flows, reinforcing correspondent banking relationships and supporting African corporates and SMEs seeking access to global markets.Africa’s trade is projected to expand at a faster pace than many other regions, yet the continent continues to face a significant trade finance shortfall, estimated at more than US$100bn. This gap has been exacerbated by the retreat of several international banks from African markets. Against this backdrop, Mishra noted that shifts in global trade patterns and supply chains are creating new opportunities for Africa to strengthen its role as a strategic trading partner.He emphasized that UBA’s presence in 20 African countries provides the Group with the capacity to connect buyers and sellers across borders, while UBA UK plays a pivotal role in delivering hard-currency liquidity, structured trade finance solutions and foreign currency settlement services through London’s financial infrastructure.Mishra also highlighted plans to capitalise on opportunities arising from the African Continental Free Trade Area (AfCFTA), one of the world’s largest trade agreements, encompassing 54 countries, 1.3 billion people and a combined GDP of approximately US$3tn.UBA Group Managing Director and CEO Oliver Alawuba stated that Mishra’s appointment underscores the Group’s commitment to strengthening its international banking franchise and advancing Africa’s integration into the global economy. #trade finance
The Chief Executive Officer of United Bank for Africa UK, Loknath Mishra, has set out a strategic plan aimed at positioning the bank at the forefront of efforts to help close Africa’s estimated US$100bn trade finance gap and strengthen cross-border trade between the continent and global markets.Speaking on Global Business Report on Arise TV, Mishra detailed an approach centered on leveraging UBA’s pan-African network and international banking platform. The strategy focuses on unlocking capital flows, reinforcing correspondent banking relationships and supporting African corporates and SMEs seeking access to global markets.Africa’s trade is projected to expand at a faster pace than many other regions, yet the continent continues to face a significant trade finance shortfall, estimated at more than US$100bn. This gap has been exacerbated by the retreat of several international banks from African markets. Against this backdrop, Mishra noted that shifts in global trade patterns and supply chains are creating new opportunities for Africa to strengthen its role as a strategic trading partner.He emphasized that UBA’s presence in 20 African countries provides the Group with the capacity to connect buyers and sellers across borders, while UBA UK plays a pivotal role in delivering hard-currency liquidity, structured trade finance solutions and foreign currency settlement services through London’s financial infrastructure.Mishra also highlighted plans to capitalise on opportunities arising from the African Continental Free Trade Area (AfCFTA), one of the world’s largest trade agreements, encompassing 54 countries, 1.3 billion people and a combined GDP of approximately US$3tn.UBA Group Managing Director and CEO Oliver Alawuba stated that Mishra’s appointment underscores the Group’s commitment to strengthening its international banking franchise and advancing Africa’s integration into the global economy.