By Ayomide Otitoju
United Bank for Africa (UBA) Plc has unveiled a new financial solution tailored for Small and Medium Enterprises (SMEs) – the UBA SME Card. The product, launched at the 38th Lagos International Trade Fair at Tafawa Balewa Square, is designed to enhance value for SME customers and drive their growth in Nigeria and beyond.
In a statement released on Tuesday, the bank emphasized its commitment to investing in advanced technology and training to support the development of SMEs, helping them make significant contributions to local economies and the broader African continent.
Shamsideen Fashola, Group Head of Retail and Digital Banking at UBA, highlighted the bank’s continued investment in cutting-edge technology, which has played a crucial role in optimizing operational efficiency and enhancing customer experiences. He explained that this investment has been instrumental in delivering positive outcomes across the business, reinforcing the bank’s commitment to supporting SMEs at every stage of their growth.
“We are constantly evolving and innovating to put the power to succeed into the hands of our customers,” Fashola said during the unveiling of the card. “This is why we are introducing the UBA SME Card – a bespoke financial solution designed specifically to empower business owners.”
The UBA SME Card aims to provide entrepreneurs with seamless access to financing, efficient expense management, and exclusive benefits to streamline operations and improve business performance. Fashola emphasized that this initiative is part of UBA’s broader strategy to equip SMEs with the tools they need to thrive in an increasingly competitive business environment.
With a presence in 20 African countries, UBA has been a key player in fostering intra-African trade, contributing to the continent’s economic integration. Fashola reiterated UBA’s commitment to advancing African trade, particularly through its partnership with the African Continental Free Trade Area (AfCFTA), which promotes sustainable economic growth through cross-border trade and investment.
Since 2019, UBA has served as the headline sponsor of the Lagos International Trade Fair, the largest trade show in sub-Saharan Africa, which attracts over 1,600 global companies and serves as a critical platform for business networking and international trade opportunities.
Babatunde Ajayi, Head of SME Banking at UBA, also stressed the importance of comprehensive support for SMEs, particularly in addressing capital access challenges for small businesses, as well as women and youth entrepreneurs. Ajayi added that UBA’s involvement in the trade fair is about more than customer acquisition; it’s about providing valuable solutions to businesses across Africa.
“Our partnership with AfCFTA and Afreximbank allows us to showcase products like our PAPPS solution, which facilitates seamless transactions for our customers across Africa,” Ajayi stated.
With the launch of the UBA SME Card, the bank aims to empower SMEs with the resources they need to grow and succeed in an increasingly dynamic marketplace.
