Pan-African lender UBA Group has pledged Sh19.3 billion ($150 million) towards Kenya’s roads sector, in a move expected to boost the country’s infrastructure development and economic resilience.
The announcement followed discussions in Nairobi between UBA Group CEO Oliver Alawuba, President William Ruto, and Transport Cabinet Secretary Davis Chirchir, where the bank confirmed its interest in the upcoming Kenya Roads Board bond.
Mr. Alawuba pointed to Kenya’s 5 percent growth rate, easing inflation, and stabilising lending rates as signals of a favorable investment climate. He said the investment would be channelled through a public-private partnership (PPP) model, secured by collections from the fuel levy—a structure he described as both “creative and protective” for investors seeking long-term returns.
The deal forms part of UBA’s broader Africa-focused strategy aimed at financing infrastructure while promoting self-reliance. Beyond roads, the bank is also exploring opportunities in airports and regional transport corridors, alongside preparing to roll out a local SME fund under a $6 billion AfCFTA facility to support small businesses and women entrepreneurs.
According to UBA, this dual approach—financing large-scale infrastructure while backing grassroots growth—aligns with its wider agenda of powering intra-African trade through systems such as the Pan-African Payment and Settlement System (PAPSS).
The group also revealed plans to fully recapitalise its Kenya subsidiary, which is set for an expansion drive targeting 15 new branches across the country in the next three years, underlining its long-term commitment to Kenya’s economy.
