On Monday 11 March, a guarantee agreement was signed between the African Guarantee Fund (AGF) and United Bank for Africa (UBA).

The agreement signed between AGF and UBA will allow UBA to provide $100 million in new loans to small and medium-sized enterprises (SMEs) and business owners in the 20 African countries where the bank is present in Africa. Indeed, AGF is committed to supporting and guaranteeing SMEs with a portfolio guarantee of $50 million and will facilitate capacity building for Bank customers who manage small businesses across the continent, with particular attention to women-led businesses and green finance projects.

The CEO of the UBA Group, Oliver Alawuba said that his institution remains committed to supporting SMEs in Africa, especially businesses created and managed by women, given its solid network, which is spread across 20 African countries and major global financial capitals.