African Guarantee Fund Partners
On $100m SME Loan.
African
Guarantee Fund and United Bank for Africa have signed a partnership that will
benefit Small and Medium Enterprises across 20 African countries
African
Guarantee Fund under this agreement will support and guarantee SMEs with a $50m
Portfolio Guarantee as well as facilitate extensive capacity development for
the bank’s customers who run small businesses across the continent, paying
special attention to women-led businesses and green finance projects.
UBA’s
Group Managing Director, Oliver Alawuba, who spoke during the partnership
signing ceremony at the bank’s Head Office in Lagos, said that as Africa’s
global bank, UBA remained committed to supporting SMEs in Africa, especially to
women-founded and managed businesses.
He also
said, the bank’s commitment to promoting gender equality was reflected in its
collaboration with the Affirmative Finance Action for Women protocol.
The partnership will help the bank fulfil its $6billion dollars commitment
to SMEs across Africa under the AfCFTA initiative.
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