UBA UK charts strategy to close Africa’s $100bn trade finance gap

The newly appointed chief executive officer of UBA UK, Loknath Mishra, has unveiled a strategy aimed at positioning the bank at the forefront of efforts to bridge Africa’s estimated $100 billion trade finance gap and strengthen the continent’s cross-border trade flows with global markets.

Speaking on Monday during an interview on Arise TV’s Global Business Report, Mishra outlined plans to leverage UBA’s pan-African footprint and international banking platform to unlock capital, deepen correspondent banking relationships, and help African corporates and SMEs access global markets.

“Africa is projected to see trade grow faster than many other regions, yet the continent faces a trade finance gap exceeding $100 billion, worsened by the withdrawal of several international banks from African markets,” Mishra said. “The global trade order is changing, supply chains are being rewritten, and Africa is increasingly a reliable and strategic partner. UBA has a significant role to play in connecting Africa to the world. UBA UK, in particular, provides hard-currency liquidity, structured trade finance, and settlement services through London’s financial infrastructure.”

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He added that UBA’s presence across 20 African countries allows the group to connect buyers and sellers seamlessly, while UBA UK ensures efficient foreign currency settlement and international trade structuring.

Mishra also highlighted plans to leverage the African Continental Free Trade Area (AfCFTA) and South-South trade growth. AfCFTA, one of the largest trade agreements globally, covers 54 countries, 1.3 billion people, and a combined GDP of approximately $3 trillion. Intra-African trade currently stands at 12–15 percent, compared with roughly 60 percent in Europe. That shows the enormous runway for growth. “As Africa pivots from raw material exports to processed goods and manufactured products, the demand for sophisticated trade finance solutions will increase—an area where UBA’s international subsidiaries will play a vital role.”

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UBA Group managing director/CEO Oliver Alawuba said Mishra’s appointment signals the bank’s commitment to strengthening its international franchise and expanding Africa’s integration into the global economy.

Mishra underscored that UBA UK’s success will be measured not just by balance sheet metrics but by market perception. He said he doesn’t measure success by a single number. Rather, success is when African corporates and banks see UBA UK as the first bank to approach for global business. “When international investors think of UBA, they think of Africa,” he said.

United Bank for Africa, one of the continent’s largest employers, has a workforce of 25,000 and serves over 45 million customers globally. With operations in 20 African countries, the United Kingdom, the United States, France, and the United Arab Emirates, UBA provides retail, commercial, and institutional banking services and has been a leader in financial inclusion and technology adoption.