{"id":33570,"date":"2019-07-29T11:44:42","date_gmt":"2019-07-29T10:44:42","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=33570"},"modified":"2019-07-29T11:44:42","modified_gmt":"2019-07-29T10:44:42","slug":"uba-pledges-more-funding-for-smes","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/uba-pledges-more-funding-for-smes\/","title":{"rendered":"UBA Pledges More Funding For SMEs"},"content":{"rendered":"

The United Bank for Africa Plc (UBA) has pledged more funding for the growth and development of Small and Medium Scale Enterprises (SME\u2019s) in Africa.<\/p>\n

The General Managing Director, UBA, Mr Kennedy Uzoka disclosed this on Friday in Abuja at the opening of the UBA Market Place.<\/p>\n

The UBA Market Place is an entrepreneurial fair, with exhibitors from 20 African countries, taking place on the sidelines of the Tony Elumelu Foundation Entrepreneurship Forum.<\/p>\n

Uzoka said that the bank had made specific initiatives to make SMEs more viable and better established across Africa with a view to stimulating and deepening the economy of the continent.<\/p>\n

\u201cWe bank a lot of customers across the continent and in doing that we have discovered that there is a gap in the business value chain.<\/p>\n

\u201cThat void we discovered is how to bring more buyers and sellers together and that is what we have done today.<\/p>\n

\u201cThe UBA market place has brought together under one roof, more than 5,000 SMEs from across Africa. We want to create a platform in Africa similar to Alibaba and ebay,\u201d he said.<\/p>

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Uzoka said that Africa\u2019s youth were full of ideas that could change the standard of living and reduce poverty on the continent and that was why the bank was passionate about supporting SMEs.<\/p>\n

Also, the UBA Group Head, Retail Banking, Mr Jude Anele said that 10 per cent of the bank\u2019s total balance sheet has been earmarked to support SMEs in countries where the bank operates in Africa.<\/p>\n

The countries are Nigeria, Chad, Cote D\u2019ivoire, Ghana, Liberia, Senegal, Uganda, Burkina Faso, Congo Brazzaville, France, Guinea Conakry, Kenya, and Mali.<\/p>\n

The other countries are Sierra Leone, Zambia, Cameroon, Congo DRC, Gabon, Mozambique and Tanzania.<\/p>\n

In Nigeria, Anele revealed that about N50 billion had been set aside from the bank\u2019s portfolio for SMEs financing.<\/p>\n","protected":false},"excerpt":{"rendered":"

The United Bank for Africa Plc (UBA) has pledged more funding for the growth and development of Small and Medium Scale Enterprises (SME\u2019s) in Africa.<\/p>\n","protected":false},"author":6,"featured_media":19585,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17,624],"tags":[5844],"coauthors":[2391],"class_list":["post-33570","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","category-politics","tag-theubamarketplace2019"],"yoast_head":"\nUBA Pledges More Funding For SMEs - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/uba-pledges-more-funding-for-smes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UBA Pledges More Funding For SMEs - 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