The United Bank for Africa (UBA) has committed USD 150 million (Ksh.16.38 billion) to Kenya’s Roads Levy Securitisation Program, becoming one of the largest financiers of the government’s new infrastructure initiative.
UBA Kenya, a subsidiary of the UBA Group, is backing the program that aims to raise USD 1.35 billion (Ksh.175 billion) by securitising part of the Road Maintenance Levy Fund. The funds will go towards road maintenance, timely contractor payments, and faster completion of projects designed to ease connectivity, reduce fiscal pressure on government, and spur economic growth.
UBA Group Managing Director/CEO, Oliver Alawuba, said the bank’s commitment reflects confidence in Kenya’s future and the central role of infrastructure in trade and inclusive prosperity.
“Our USD 150 million commitment to the Roads Levy Securitization Program reflects our confidence in Kenya’s future and our belief in infrastructure as a foundation for trade, competitiveness, and inclusive prosperity,” he said.
UBA Kenya CEO, Mary Mulili, added that the bank is investing in more than just roads.
“We are not just a financial institution, but a trusted partner to government, businesses, and communities. We are investing in Kenya’s growth story — in better roads for farmers, reliable transport for SMEs, efficiency for manufacturers, and prosperity for every Kenyan,” she said.
The Ministry of Roads and Transport welcomed UBA’s participation, describing it as a strong endorsement of Kenya’s infrastructure agenda and a demonstration of the role Pan-African banks can play in bridging the continent’s financing gaps.
By Benjamin Muriuki
