UBA strengthens Kenya ties with $150m road infrastructure pledge
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Alawuba emphasised that the bank possesses both the financial muscle and expertise to support the regulator’s goal of building a competitive and well-capitalised banking sector.
The Group Managing Director and Chief Executive Officer of United Bank for Africa (UBA) Plc, Oliver Alawuba, has led a top-level delegation to Nairobi, where he met with President William Ruto and senior Kenyan officials to reaffirm the bank’s long-term commitment to driving investment, infrastructure, and inclusive growth in the country.
Welcoming the team at State House, President Ruto praised UBA’s consistent support for Kenya’s economic development.
Discussions focused on deepening partnerships in infrastructure financing, boosting small and medium-sized enterprises (SMEs), and advancing the country’s long-term transformation agenda.
“Kenya holds a strategic place in Africa’s growth story, and UBA is committed to being a long-term partner in unlocking the immense potential here,” Alawuba said.
The visit included meetings with Central Bank Governor Dr Kamau Thugge, where deliberations centred on financial resilience, cross-border trade facilitation, and UBA’s strong capital base in Kenya.
Alawuba emphasised that the bank possesses both the financial muscle and expertise to support the regulator’s goal of building a competitive and well-capitalised banking sector.
In a landmark announcement, UBA pledged USD 150 million (KES 20.5 billion) towards Kenya’s Roads Levy Securitization Program, a USD 1.35 billion initiative led by the Kenya Roads Board.
The scheme aims to fast-track payments to contractors, expand road networks, and strengthen national connectivity.
“Infrastructure is the engine of trade, competitiveness and shared prosperity. UBA is proud to be one of the largest financiers of this programme, underscoring our confidence in Kenya’s future,” Alawuba stated.
UBA Kenya’s CEO, Mary Mulilu, added that the partnership “cements UBA’s role as a trusted ally to government, businesses and communities, while empowering farmers, manufacturers and SMEs across the country.”
The delegation also held talks with Prime Cabinet Secretary Musalia Mudavadi, highlighting the role of African-led institutions in driving jobs, innovation, and regional integration.
These engagements, UBA said, align with its wider continental strategy to support economic transformation and strengthen Kenya’s role as a hub for East Africa under the African Continental Free Trade Area (AfCFTA).
UBA, Africa’s Global Bank, operates in 20 African countries and major financial centres including London, Paris, New York, Dubai, and the UAE, serving more than 45 million customers worldwide.
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