UBA Kenya is taking significant steps to engage with Kenya’s natural resource economy through a recent strategic meeting with key government officials, including Ali Hassan Joho, the Cabinet Secretary for Mining, Blue Economy and Maritime Affairs, and Betsy Njagi, Principal Secretary for the Blue Economy. The meeting, led by Mary Mulili, Managing Director and CEO of UBA Kenya, aimed to foster structured partnerships between the public and private sectors, focusing on sustainable growth in Kenya’s mining, fisheries, and maritime industries—areas considered crucial to the country’s economic future.
Discussions during the meeting highlighted the importance of positioning the mining sector as a cornerstone of Kenya’s industrialization efforts. By harnessing this potential, it is anticipated that the sector can significantly increase foreign exchange earnings, generate employment opportunities, and strengthen downstream industries. UBA Kenya aims to enhance financial access and investment structures to transform the country’s raw mineral resources into high-value exports.
Moreover, the timing of this engagement aligns with Kenya’s ongoing Blue Economy Investment agenda, particularly as preparations are underway for the forthcoming global Ocean Conference. The Blue Economy focuses on the sustainable management of ocean resources and has become increasingly vital for inclusive economic development. UBA Kenya recognizes the opportunities arising from this sector to strengthen value chains and bolster regional trade, emphasizing the need for effective financing and trade facilitation. This encompasses the development of essential infrastructure, such as cold-chain facilities for seafood, as well as support for transport and export readiness.
With its structured financial solutions and cross-border banking capabilities, UBA is well-positioned to assist businesses within the Blue Economy framework. The bank aims to help these businesses access working capital, manage foreign exchange, and pursue expansion into regional and global markets, particularly in the context of frameworks like the African Continental Free Trade Area (AfCFTA).
Continuing its commitment to collaboration with the government, UBA Kenya emphasizes the need for innovative financial solutions that can convert the potential of natural resources into widespread economic benefits. The goal is to ensure that the growth of both the mining and maritime sectors yields tangible advantages for local communities and the national economy at large. This bold initiative by UBA Kenya marks an important step in unlocking the immense economic prospects offered by Kenya’s natural resources.
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