Africa’s trade finance landscape is about to get a serious shake-up. Loknath Mishra, the newly appointed CEO of UBA UK, has laid out an ambitious strategy that could help unlock the continent’s estimated $100 billion trade finance gap.
Speaking on Arise TV’s Global Business Report this week, Mishra outlined how UBA UK plans to leverage its parent company’s pan-African footprint and London’s global financial infrastructure to make cross-border trade easier and more accessible for African businesses.
A Growing Problem That Needs Solving
The numbers tell a stark story. African trade is growing faster than most other regions, yet the continent faces a trade finance shortfall of over $100 billion. The gap has only widened as international banks have pulled back from African markets in recent years.
Mishra pointed out that the global trade order is shifting, supply chains are being rewritten, and Africa is increasingly becoming a reliable and strategic partner. UBA’s job is to make sure the continent stays connected to global markets, and UBA UK is central to that mission.
“UBA has a significant role to play in ensuring Africa is connected to the globe,” Mishra said. “UBA UK plays a critical role in providing hard-currency liquidity, structured trade finance and settlement services through London’s financial infrastructure.”
The AfCFTA Opportunity
One of the biggest growth drivers, according to Mishra, is the African Continental Free Trade Area (AfCFTA). It’s one of the largest trade agreements in the world, covering 54 countries, 1.3 billion people, and a combined GDP of roughly $3 trillion.
Right now, intra-African trade sits at just 12 to 15 per cent, compared to about 60 per cent in Europe. That’s a huge runway for growth. As African countries move from exporting raw materials to producing processed goods and manufactured products, the need for sophisticated trade finance solutions will only increase.
UBA’s presence across 20 African countries puts it in a unique position to connect buyers and sellers seamlessly across borders. UBA UK brings the added advantage of efficient foreign currency settlement and international trade structuring through London’s financial ecosystem.
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Success Measured Differently
Mishra is clear that success for UBA UK won’t be measured by balance sheet size alone. Instead, he’s focused on becoming the go-to banking partner for African institutions and international investors looking to do business on the continent.
“I don’t measure success by a single number,” he explained. “Success is when African corporates and banks see UBA UK as the first bank to approach for global business, and when international investors think of UBA when they think of Africa.”
This approach aligns with UBA Group’s broader commitment to strengthening Africa’s integration into global markets. Oliver Alawuba, UBA’s Group Managing Director and CEO, said Mishra’s appointment signals the bank’s continued focus on expanding its international banking franchise.
What This Means for African Businesses
For African corporates and SMEs, UBA UK’s strategy could translate into better access to hard-currency liquidity, more efficient cross-border transactions and stronger correspondent banking relationships. These are the tools businesses need to compete globally and take advantage of the opportunities created by AfCFTA.
UBA is already one of the largest employers in Africa’s financial sector, with 25,000 employees and over 45 million customers worldwide. Operating in 20 African countries plus the UK, US, France, and UAE, the bank provides retail, commercial, and institutional banking services.
With Mishra at the helm of UBA UK, the bank is positioning itself not just as a financial institution but as a bridge between Africa and the rest of the world. If the strategy pays off, it could help unlock billions in trade opportunities and bring African businesses closer to global markets.
And that’s a win worth watching.
