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The Chief Executive Officer of UBA UK, Loknath Mishra, has unveiled an ambitious strategy to help close Africa’s estimated $100 billion trade finance gap while strengthening the continent’s cross-border trade with global markets.
Speaking in a television interview, the newly appointed CEO outlined plans to leverage UBA’s pan-African network and international banking capabilities to unlock capital flows, deepen correspondent banking relationships, and improve access to global markets for African corporates and SMEs.
Positioning Africa in a Changing Global Trade Order
Mishra noted that Africa’s trade is projected to grow faster than many other regions, yet the continent continues to face a significant trade finance shortfall—exacerbated by the exit of several international banks from African markets.
“The global trade order is changing, supply chains are being rewritten, and Africa is increasingly becoming a reliable and strategic partner,” he said. “UBA has a critical role in connecting Africa to the world. UBA UK supports this through hard-currency liquidity, structured trade finance, and settlement services via London’s financial infrastructure.”
With operations spanning 20 African countries, UBA’s network enables seamless connections between buyers and sellers across borders. UBA UK serves as a key hub for foreign currency settlement and international trade structuring.
Leveraging AfCFTA and South–South Trade
A central pillar of the strategy is tapping into opportunities created by the African Continental Free Trade Area (AfCFTA). Mishra described AfCFTA as one of the world’s largest trade agreements, covering 54 countries, 1.3 billion people, and a combined GDP of approximately $3 trillion.
Currently, intra-African trade accounts for just 12–15% of total trade on the continent, compared with roughly 60% in Europe. According to Mishra, this gap underscores the vast potential for growth—particularly as African economies shift from exporting raw materials to producing higher-value processed and manufactured goods.
“As Africa pivots toward industrialisation, demand for sophisticated trade finance solutions will rise significantly. UBA’s international subsidiaries are well positioned to support that transition,” he said.
Strengthening UBA’s Global Banking Franchise
UBA Group’s Managing Director and CEO, Oliver Alawuba, described Mishra’s appointment as a signal of the Group’s continued commitment to strengthening its international banking franchise and accelerating Africa’s integration into the global economy.
For Mishra, success will not be measured solely by financial metrics.
“I don’t measure success by a single number,” he said. “Success is when African corporates and banks see UBA UK as the first port of call for global business—and when international investors think of UBA when they think of Africa.”
With Africa’s trade potential expanding and global supply chains evolving, UBA UK is positioning itself as a key financial bridge between the continent and the wider world.
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