United Bank for Africa (UBA) Plc has committed $150 million (KES 20.5 billion) to the Government of Kenya’s $1.35 billion Roads Levy Securitisation Program, underscoring the pan-African lender’s growing role in financing infrastructure and advancing inclusive growth across the continent.
In a statement, the pan-African lender said the commitment was unveiled during a working visit by its Group Managing Director/Chief Executive Officer, Oliver Alawuba, to Nairobi, where he led a high-level delegation and met with President William Ruto and other senior government officials.
Receiving the UBA team at State House, President Ruto commended the bank for its support over the years, as discussions focused on scaling road infrastructure, strengthening small and medium-sized enterprises (SMEs), and advancing Kenya’s long-term economic transformation.
Alawuba said: “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. 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.”
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The $150 million pledge was formalised during a meeting with Davis Chirchir, Cabinet Secretary for Roads and Transport. The Roads Levy Securitisation Program, spearheaded by the Kenya Roads Board, is designed to modernise critical road networks, accelerate payments to contractors, and boost connectivity nationwide.
“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.”
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 reiterated that UBA has the financial capacity and expertise to support the regulator’s agenda for a sound, well-capitalised, and competitive banking system.
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.”
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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.
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 per cent of employment in Kenya, the bank is rolling out tailored financing solutions to strengthen entrepreneurship and harness opportunities.
