United Bank bets on SMEs for Kenya expansion

This regional and global outreach is the best value proposition we can give to the Kenyan businesses which carry out transactional services with other businesses in these countries through our Afritrade.

Given that Kenya imports are largely sourced from some of these countries, our presence lowers the cost of transaction as businesses do not need to wire their funds through other international banks.

In addition, we are able to arrange financial services such as trade finance and letter of credit, hence allowing businesses to leverage their cash flow operations without providing the finances upfront.

The local financial industry is looking at the concept of bancassurance to drive the penetration of insurance services. What is UBA experience and does it plan to provide the service locally?

UBA bank has an insurance subsidiary, UBA Metropolitan ,which has enabled the bank to provide bancassurance services much more easily to its client in other markets.

The traditional selling methodology of insurance locks out many people from accessing the service.

But through bancassurance, we hope to reach more clients who are our database through “under-one roof service” concept.