Home Asia Chinese bank, UBA seal $100m deal to assist African SMEs
Chinese bank, UBA seal $100m deal to assist African SMEs
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Chinese bank, UBA seal $100m deal to assist African SMEs

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The United Bank for Africa plc has signed a $100 million seven-year loan agreement with China development bank to finance the development of Small and Medium Enterprises in Africa.

The chief executive officer UBA plc, kennedy Uzoka says the $100 million will enhance the banks’s capacity to provide access to finance for SMEs across the 19 African countries.

Uzoka noted that partnership with china development bank will boost sustainable development of commerce and industry in Africa.

The president of CDB, Zheng Zhijie says the agreement between UBA and CDA will translate into an enduring business relationship for china, africa and Nigeria.

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