The bank’s strategic focus on championing SME growth is set to receive a significant boost with the introduction of its innovative Pan African Payment and Settlement System (PAPPS) payment system.

The system enables instant, real-time transactions in local currencies across Africa, eliminating exchange rate risks, paperwork, and delays.

“UBA Ghana remains committed to providing innovative financial solutions like PAPSS to address the complexities of cross-border payments; this platform eliminates barriers, allowing businesses to trade more efficiently across the continent,” Managing Director and Chief Executive Officer of UBA Ghana, Uzoechina Molokwu  explained to the Graphic Business.

The bank said the system offers a comprehensive trade service to support importers and exporters, ensuring smooth international transactions.

Africash and Afritrade

The bank’s Afritrade payment system will enable SMEs and businesses to manage export proceeds collection and import bill payments effortlessly. Through this, SMEs will have their secured transactions guaranteed with letters of credit, providing them to work with unfamiliar suppliers.

“Our mission is to simplify trade processes and empower businesses to thrive across Africa; with solutions like UBA Afritrade and letters of credit, we are creating a secure and efficient framework for cross-border transactions,” Managing Director and Chief Executive Officer of UBA Ghana, Uzoechina Molokwu told the Graphic Business.

He added that the Afritrade will also benefit exporters from specialized solutions for their peculiar exports, including export financing and simplified payment tracking through export bills for collection.

He also mentioned to the Graphic Business that complementing PAPSS will be Africash that will extend seamless money transfer and trade collection solutions by SMEs in Ghana to 20 African countries.

“SMEs are the backbone of Ghana’s economy, and at UBA, we are proud to support their growth through flexible financial products and strategic partnerships; our aim is to empower them to succeed and drive economic transformation, " Mr Uzoechina Molokwu stated.

He said the bank was recognized as the SME Bank of the Year by the Ghana Credit Excellence Awards, and it will not rest on its oars but continue to empower SMEs through innovative products, strategic partnerships and capacity-building initiatives.

“UBA provides SMEs with tailored financial products, including working capital financing, term loans, and overdraft facilities; these solutions enable SMEs to expand operations, acquire assets and explore new ventures,” he stated.

Strategic partnerships for growth

He revealed that through collaborations with the African Continental Free Trade Area (AfCTA) and the United Nations Development Programme(UNDP) its support for youth and women-led businesses will continue to ensure they have the tools to scale operations, create jobs, and boost sustainability.

“The bank has dedicated USD6 billion to support lending to SMEs on the African continent, offering favorable rates for women led or owned businesses.

He also reiterated that the bank will continue to offer financial advice and capacity-building programs to equip SMEs with essential knowledge in financial management and business expansion strategies.

“Our commitment extends beyond financing; we aim to equip SMEs with the skills and tools they need to thrive in today’s dynamic business environment; we therefore support SMEs through training and advisory services to ensure they remain a going concern at all times,” he added.

He also affirmed the bank’s commitment to innovation and excellence positions as it has a trusted partner for businesses across Ghana and Africa. According to him this is achieved by simplifying trade, supporting SMEs, and driving strategic collaborations.

“At UBA, we believe in Africa’s potential and are dedicated to building bridges that connect businesses, families, and economies across the continent; in the year 2025 and beyond, we remain your closest trusted partner in financial services,” he stated.