UBA UK CEO unveils strategy to bridge $100bn African trade finance gap

The newly appointed Chief Executive Officer of UBA UK, Loknath Mishra, has outlined an ambitious strategy to position the bank at the forefront of efforts to address Africa’s estimated $100 billion trade finance gap and boost cross-border trade with global markets.

Speaking on Monday during an interview on Global Business Report, Mishra emphasized leveraging UBA’s extensive Pan-African footprint and international banking platform to unlock capital, strengthen correspondent banking relationships, and help African corporates and SMEs access global markets.

“The global trade order is changing, supply chains are being rewritten, and Africa is increasingly becoming a reliable and strategic partner. UBA has a significant role to play in ensuring Africa is connected to the globe, and UBA UK plays a critical role in providing hard-currency liquidity, structured trade finance, and settlement services through London’s financial infrastructure,” Mishra said.

He highlighted that UBA’s presence across 20 African countries enables seamless connections between buyers and sellers, while UBA UK facilitates efficient foreign currency settlement and international trade structuring.

Mishra also cited the African Continental Free Trade Area (AfCFTA) and South-South trade growth as key drivers of opportunity. “Intra-African trade currently stands at about 12–15%, compared to roughly 60% in Europe. That shows the enormous runway for growth. As Africa pivots from raw material exports toward processed goods and manufactured products, the demand for sophisticated trade finance solutions will increase – an area where UBA’s international subsidiaries will play a vital role,” he explained.

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The Group Managing Director/CEO of UBA, Oliver Alawuba, described Mishra’s appointment as a demonstration of the bank’s commitment to strengthening its international banking franchise and expanding Africa’s integration into the global economy.

Mishra further emphasized that UBA UK’s success will be measured not solely by financial metrics but by its ability to become the first port of call for African corporates and banks seeking global business, and for international investors thinking of Africa.

Founded as one of Africa’s largest financial institutions, United Bank for Africa employs 25,000 staff across 20 African countries, the United Kingdom, the United States, France, and the United Arab Emirates, serving over 45 million customers globally.

The bank offers retail, commercial, and institutional banking services, while championing financial inclusion and innovative technological solutions.

The move underscores UBA UK’s role in bridging Africa’s trade finance gap, enhancing intra-African commerce, and connecting the continent to global markets through strategic banking solutions.