Loknath Mishra, the Chief Executive Officer of UBA UK, has outlined a clear strategy to tackle Africa’s persistent trade finance shortfall, estimated at around $100 billion per year. This finance gap limits the ability of African businesses to engage in trade, inhibits access to foreign exchange, and reduces competitiveness in global markets. Addressing this structural shortfall is critical for expanding exports, deepening regional integration, and improving economic outcomes across the continent.
Mishra’s plan is anchored in positioning UBA UK as a key financial bridge between Africa and global capital markets. The strategy takes advantage of UBA’s pan-African network and London’s global financial infrastructure to unlock liquidity, strengthen correspondent banking ties, and support cross-border trade flows. The withdrawal of several international banks from African markets in recent years has widened the trade finance gap, increasing the need for regionally anchored banks to fill that role.
At the core of Mishra’s approach is the belief that African trade is poised for faster growth compared with many other regions, presenting an opportunity for financial institutions with the capability to support that expansion. “The global trade order is changing, supply chains are being rewritten, and Africa is increasingly becoming a reliable and strategic partner. UBA has a significant role to play in ensuring Africa is connected to the globe, and UBA UK plays a critical role in providing hard-currency liquidity, structured trade finance, and settlement services through London’s financial infrastructure,” he said.
This emphasis on hard-currency liquidity and structured financing is significant. Many African businesses struggle to secure foreign exchange and risk capital needed for imports and exports, particularly SME exporters. By offering structured trade finance, UBA UK aims to reduce credit and risk barriers that conventional lenders often avoid. This will enable more African firms to scale operations, enter international markets, and participate in global value chains.
Mishra also linked the bank’s strategy to broader regional initiatives such as the African Continental Free Trade Area (AfCFTA). With 54 member states, a population of about 1.3 billion, and a combined GDP nearing $3 trillion, AfCFTA represents a major opportunity to boost intra-African trade. But intra-continental trade remains low compared with other regions, indicating a large space for growth if financial systems can support expanded trade flows.
Strengthening correspondent banking relationships is another pillar of the strategy. Robust correspondent networks facilitate international settlements and foreign exchange services, areas where many African banks have faced setbacks due to reduced engagement by global institutions. By enhancing these relationships, UBA UK seeks to improve the efficiency, reliability, and competitiveness of trade finance for its African partners.
Mishra stressed that success for UBA UK should go beyond short-term financial metrics. “I don’t measure success by a single number. 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,” he added.
This vision is both commercial and developmental. By expanding access to hard currency and structured finance, UBA UK aims not only to grow its balance sheet but also to support economic transformation in Africa. Better trade finance solutions can help African economies move beyond commodity exports to higher-value goods and services, strengthen regional trade, and attract sustainable international investment.
In sum, UBA UK’s strategy under Mishra’s leadership is designed to mitigate one of Africa’s most persistent financial constraints by linking capital, liquidity, and expertise through a coordinated global banking platform with strong regional roots.
