United Bank for Africa (UBA) Plc has pledged $150 million (KES20.5 billion) to Kenya’s Roads Levy Securitisation Programme, reinforcing its commitment to infrastructure development and inclusive growth.
Making the announcement during an engagement with the Kenyan government in Nairobi, Group Managing Director and Chief Executive of UBA, Oliver Alawuba, said the fund was part of the $1.35 billion initiative by the Kenya Roads Board, designed to accelerate road infrastructure upgrades, speed up payments to contractors, and boost national connectivity.
Received by Kenyan President William Ruto, Alawuba reaffirmed the Bank’s commitment to accelerating investment and supporting inclusive growth in the country. The program aims to upgrade critical road infrastructure, accelerate payments to contractors, and boost national connectivity.
He noted, “Infrastructure is the engine of trade, competitiveness and shared prosperity. UBA is proud to be one of the largest financiers of this program, demonstrating our unshakeable confidence in Kenya’s future.”
Alawuba said that UBA would continue to partner with the country to support the advancement of infrastructure development, finance small and medium-sized enterprises (SMEs), and support its long-term economic transformation agenda.
He stated, “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. “From financing critical infrastructure to empowering SMEs that drive job creation, our mission is to deliver sustainable solutions that connect markets, foster trade, and improve lives.”
“Infrastructure is the engine of trade, competitiveness and shared prosperity,” Alawuba said. “UBA is proud to be one of the largest financiers of this programme, demonstrating our unshakeable confidence in Kenya’s future.”
The UBA group CEO also in his meeting with the Governor of the Central Bank of Kenya, Dr Kamau Thugge, discussed strengthening financial sector resilience, enhancing cross-border trade through payments innovation, and reinforcing UBA’s strong capital position in Kenya
Alawuba explained that UBA had the financial capacity and expertise to support the regulator’s agenda for a sound, well-capitalised and competitive banking system.
Alawuba and his team also met with the Prime Cabinet Secretary of Kenya, H.E. Musalia Mudavadi, discussing the importance of African-led enterprises in driving job creation, innovation, and sustainable growth. Both parties highlighted the need for robust partnerships to advance quality infrastructure and regional interconnectivity as foundations for shared prosperity.
“These engagements reaffirm UBA’s commitment to collaborate with governments and stakeholders in building a prosperous, united, and self-reliant Africa,” Alawuba said.
UBA’s engagements in Kenya reflect the bank’s broader strategy of driving economic transformation across the continent and UBA’s strategic vision to position Kenya as a vital hub connecting East Africa and fostering broader regional opportunities through the African Continental Free Trade Area (AfCFTA). With SMEs accounting for over 80% of employment in Kenya, the Bank is rolling out tailored financing solutions to strengthen entrepreneurship and harness opportunities.
