X
Home Business UBA Ghana Drives Economic Growth with Innovation in Trade and SME Support

UBA Ghana Drives Economic Growth with Innovation in Trade and SME Support

0
Uba Ghana
Uba Ghana

UBA Ghana is reaffirming its role as a cornerstone of economic growth in the country through a series of strategic initiatives aimed at enhancing trade efficiency and supporting the growth of Small and Medium-sized Enterprises (SMEs).

The bank’s commitment to providing innovative financial solutions has made it a key player in driving Ghana’s economic transformation, particularly in its efforts to simplify cross-border trade and offer tailored services to businesses of all sizes.

In recent years, UBA Ghana has focused on improving trade processes for importers and exporters, offering products like UBA Afritrade, which facilitates the collection of export proceeds and the payment of import bills. Through these services, businesses are able to manage international transactions with greater ease, and secure financial instruments like Letters of Credit (LCs) provide additional safeguards, ensuring smooth interactions with unfamiliar suppliers.

Uzoechina Molokwu, the Managing Director and CEO of UBA Ghana, emphasized that the bank’s mission is to simplify trade processes for businesses across the African continent, helping them thrive in increasingly competitive markets. “With solutions like UBA Afritrade and Letters of Credit, we are creating a secure and efficient framework for cross-border transactions,” he said.

In addition to the bank’s trade services, UBA Ghana has emerged as a key driver of innovation in the cross-border payments sector. Through the Pan-African Payment and Settlement System (PAPSS), UBA is addressing the long-standing challenges businesses face when making payments across African borders. PAPSS enables businesses to transact in local currencies, removing exchange rate risks and transaction delays. This platform not only increases trade efficiency but also facilitates greater economic integration within Africa, allowing companies to build stronger and more reliable partnerships across the continent.

Molokwu further elaborated on the bank’s efforts, stating, “UBA Ghana remains committed to providing innovative financial solutions like PAPSS to address the complexities of cross-border payments. This platform eliminates barriers, allowing businesses to trade more efficiently across the continent.”

The practical benefits of these initiatives are already being felt by businesses like Mansa’s, a Ghanaian importer working with Nigerian suppliers. Through PAPSS, Mansa’s can now process payments instantly, ensuring timely deliveries and fostering greater confidence in cross-border trade relationships.

Alongside these developments, UBA Ghana has long been a champion of SME growth. Recognized as the SME Bank of the Year at the Ghana Credit Excellence Awards, the bank continues to empower small businesses with access to working capital financing, term loans, and overdraft facilities. These products enable SMEs to expand their operations and access the resources they need to grow, in turn contributing to the country’s economic development.

“SMEs are the backbone of Ghana’s economy, and at UBA, we are proud to support their growth through flexible financial products and strategic partnerships,” Molokwu said. In addition to financial solutions, UBA has formed key partnerships with organizations such as the African Continental Free Trade Area (AfCFTA) and the United Nations Development Programme (UNDP). These collaborations focus on supporting youth and women-led businesses, offering favorable lending rates and helping these businesses scale up and create jobs.

UBA’s commitment to capacity building and financial education is also noteworthy. By offering training and advisory services, the bank is equipping SMEs with essential business management skills, ensuring they are better positioned to succeed in a rapidly evolving economic landscape. “Our commitment extends beyond financing. We aim to equip SMEs with the skills and tools they need to thrive in today’s dynamic business environment,” Molokwu added.

Looking ahead, UBA Ghana’s continued investment in trade solutions, SME support, and regional economic integration will ensure that the bank remains a vital contributor to the country’s economic growth. With a firm belief in Africa’s potential, UBA remains dedicated to building bridges between businesses, families, and economies across the continent, positioning itself as a trusted partner in financial services for years to come.

“At UBA, we believe in Africa’s potential and are dedicated to building bridges that connect businesses, families, and economies across the continent,” concluded Molokwu. “In the year 2025 and beyond, we remain your closest trusted partner in financial services.”

Send your news stories to newsghana101@gmail.com Follow News Ghana on Google News

error: Content is protected !!
WP Radio
WP Radio
OFFLINE LIVE
Exit mobile version