UBA, BoI Unveil ₦5bn Loan to Empower Women-Owned MSMEs

United Bank for Africa (UBA) Plc, in partnership with the Bank of Industry (BoI), has launched a ₦5 billion loan programme to support the growth of micro, small, and medium enterprises (MSMEs) in Nigeria, with a strong focus on women-owned businesses.

The facility, disbursed under the Federal Government’s MSME Fund, is targeted at critical sectors such as Green Energy, Education, Healthcare, and Women-Owned Enterprises. Loans of up to ₦5 million per business will be available at a competitive interest rate of 9% with a three-year tenor, including a three-month moratorium on principal repayment.

UBA’s Group Managing Director/CEO, Oliver Alawuba, described MSMEs as the “lifewire of any developing economy” and reaffirmed the bank’s commitment to empowering businesses across Africa. “By easing access to affordable finance, we are breaking down barriers that hinder SME growth in Nigeria and creating pathways for sustainable development,” he said.

The bank’s Group Head of Retail and Digital Banking, Shamsideen Fashola, noted that the initiative was strategically designed to boost sectors central to national development, while UBA’s Group Head of Marketing and Corporate Communications, Alero Ladipo, urged MSME operators—especially women—to take advantage of the accessible and affordable financing opportunity.

Expected to stimulate economic growth and financial inclusion, the programme underscores UBA’s commitment to strengthening MSMEs, advancing women’s participation in enterprise, and supporting Nigeria’s long-term development agenda.