United Bank for Africa has entered a new phase in its continental expansion strategy following the signing of a letter of intent with British International Investment to explore trade finance collaboration across Africa.
The agreement, announced in March 2026, is aimed at addressing one of the continent’s most persistent economic challenges, the shortage of accessible trade finance for businesses. The partnership will focus on expanding credit access and strengthening financial support systems for African corporates and small and medium sized enterprises engaged in cross border trade.
At the heart of this collaboration is a growing urgency to bridge Africa’s trade finance gap, which is estimated at tens of billions of dollars. Limited access to financing continues to restrict the ability of businesses to participate fully in international trade, slowing economic growth and limiting the continent’s integration into global markets.
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The partnership signals a strategic alignment between a leading African banking group and a global development finance institution, both seeking to unlock capital flows and improve liquidity across key trade corridors. By combining UBA’s extensive pan African network with BII’s investment capacity, the initiative is expected to create more structured and scalable trade finance solutions.
For UBA, the move reinforces its long standing ambition to position itself as a gateway for African businesses to access global markets. With operations in over 20 African countries and a presence in major international financial centers, the bank has consistently played a role in facilitating trade, payments and cross border transactions.
The agreement also builds on the bank’s broader strategy to leverage its international subsidiaries, particularly in London, to provide hard currency liquidity, trade structuring and settlement services. This is increasingly important as global supply chains evolve and Africa positions itself as a more active participant in international commerce.
The timing of the agreement is significant. As global trade dynamics shift and supply chains are reconfigured, Africa is gaining renewed attention as a strategic partner in global commerce. However, without adequate financing mechanisms, many businesses remain unable to take advantage of these opportunities.
Trade finance plays a critical role in this ecosystem. It enables businesses to import goods, export products and manage payment risks across borders. Yet, for many African firms, especially SMEs, access to these financial instruments remains limited due to risk perceptions, regulatory constraints and reduced participation by international banks.
By exploring new models of collaboration, UBA and BII are seeking to address these gaps. The partnership is expected to support not only large corporates but also smaller businesses that form the backbone of many African economies.
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Ultimately, the letter of intent represents more than a formal agreement. It signals a deeper shift in how financial institutions are approaching Africa’s development challenges, moving from isolated interventions to more coordinated and scalable solutions.
As the collaboration evolves, its impact will likely be measured by how effectively it expands access to finance, supports business growth and strengthens Africa’s position in global trade.
