UBA commits KES 20.5bn to Kenya’s roads levy securitization program
The Group Managing Director/Chief Executive Officer of United Bank for Africa (UBA) Plc, Oliver Alawuba, on Tuesday, led a high-powered delegation on a working visit to the Kenyan President and other top government functionaries in the country, reaffirming the Bank’s commitment to accelerating investment and supporting inclusive growth in the country.
The Kenyan President, H.E. President William Ruto, who received Alawuba and his team to the State House Nairobi, commended the bank for its support to the country over the years.
Discussions were also made around how UBA will continue to partner with the country towards supporting the advancement of infrastructure development, financing small and medium-sized enterprises (SMEs), and supporting its long-term economic 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. “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.”
Together with the UBA delegation which included the Executive Director/CEO, Sola Yomi-Ajayi, UBA Africa, and Managing Director/CEO of UBA Kenya, Mary Mulilu, Alawuba also held other high-level discussions with other key leaders in government and the financial sector in the country.
He met with the Governor of the Central Bank of Kenya, Dr Kamau Thugge, where discussions centered on strengthening financial sector resilience, enhancing cross-border trade through payments innovation, and reinforcing UBA’s strong capital position in Kenya
Alawuba took time to explain that UBA has the financial capacity and expertise to support the regulator’s agenda for a sound, well-capitalised and competitive banking system.
In a landmark announcement, UBA pledged USD 150 million (KES 20.5bn) to the Government of Kenya’s Roads Levy Securitization Program, a $1.35 billion initiative spearheaded by the Kenya Roads Board during a meeting with Mr. Davis Chirchir, Kenya’s Cabinet Secretary for Roads and Transport. The program aims to upgrade critical road infrastructure, accelerate payments to contractors, and boost national connectivity.
“Infrastructure is the engine of trade, competitiveness and shared prosperity,” Alawuba said. “UBA is proud to be one of the largest financiers of this program, demonstrating our unshakeable confidence in Kenya’s future.”
The Managing Director/CEO of UBA Kenya, Mary Mulili, added: “Our participation cements UBA’s role as a trusted ally to the Kenyan government, businesses, and communities. We are paving the way for better connectivity that empowers farmers, manufacturers, and SMEs across the country.”
Alawuba and his team also met with the Prime Cabinet Secretary of Kenya, H.E. Musalia Mudavadi. Their discussions emphasised 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.
