UBA UK’s newly appointed CEO, Loknath Mishra, says that the bank is working hard to close Africa’s $100 billion trade finance shortfall by connecting more African businesses to global markets.

Mishra affirmed this during an appearance on Arise TV’s Global Business Report this week.

“UBA will leverage its Pan-African network and London operations to unlock capital, strengthen correspondent banking relationships and support African corporates and SMEs in accessing international trade opportunities,”he said.

According to him, the global trade order is changing, and supply chains are being rewritten and Africa is increasingly becoming a reliable and strategic partner.

He emphasised that UBA has a significant role to play in ensuring Africa is connected to the globe, and UBA UK plays a critical role in providing hard-currency liquidity, structured trade finance and settlement services through London’s financial infrastructure.

He highlighted that several international banks are retreating from African markets, even as trade across the continent is projected to grow faster than in many other regions.

He noted that the bank’s presence across 20 African countries enables UBA to connect buyers and sellers seamlessly, while UBA UK ensures efficient foreign currency settlement and international trade structuring.

MTN Group has reached an agreement to acquire IHS Towers, one of the world’s largest independent owners and operators of shared telecom infrastructure, in an all-cash transaction that values the company at an enterprise value of approximately $6.2 billion.

The deal follows weeks of negotiations between both parties.

Under the terms of the merger agreement, IHS shareholders will receive $8.50 per ordinary share in cash, representing a 36% premium to its 52-week volume-weighted average price, and a modest 3% premium to its unaffected closing price of $8.23 on February 4, 2026.

Chairman and CEO of IHS Towers, Sam Darwish, described the agreement as a compelling opportunity to crystallise value built over the company’s 25-year history.

“Today’s announcement creates a compelling opportunity that provides certainty and immediate returns for our shareholders, enabling them to crystallize the significant value generated during our strategic review.

The proposed transaction deepens our long-standing partnership with MTN, as it combines Africa’s largest mobile network operator with one of its largest digital infrastructure platforms, and underscores the strong connection between IHS Towers and the African continent,” he said.

MTN’s Group President and CEO, Ralph Mupita, said the transaction would strengthen the company’s strategic and financial position as digital infrastructure becomes increasingly central to economic development on the continent

For IHS customers and partners across the continent, we commit to continuing high standards of service and the right governance of what is the largest standalone and integrated tower company in Africa, enabled by the excellent people within HIS,” he said.

IHS Towers’ Board of Directors has unanimously approved the transaction and recommended it to shareholders.

Meanwhile, J.P. Morgan is acting as financial advisor to IHS Towers, and Latham & Watkins LLP and Walkers (Cayman) LLP are acting as legal counsel to IHS Towers.

BofA Securities and Citigroup Global Markets Limited are acting as financial advisors to MTN; Cravath, Swaine & Moore LLP are acting as legal advisors. 

The Kebbi State Governor, Comrade Dr Nasir Idris, Kauran Gwandu, has consoled with Yauri Local Government Area and Yauri Emirate over boat mishap that claimed the lives of 14 people.

In a statement signed by Ahmed Idris, Chief Press Secretary to the Governor, Kebbi State, he condoles the immediate family members, the local government, the emirate as well as the good people of Yauri shortly after attending the funeral prayer, the governor urged them to accept the will God Almighty in good faith.

Represented by the Chairman, Yauri LG, Hon. Abubakar Shu’aibu, the governor prayed God Almighty to forgive their shortcomings and grant them Jannatul Firdaus.

“I appeal to you to accept this in good faith bearing in mind that nothing happens without the knowledge of our creator.

Narrating the ideal, the chairman said that the accident occured at Gumbi village in Gumbi ward of Yauri LG after they accompanied a bride to her husband’s house at Gwarzo village in Ngaski LG.

“The celebrants were on their way back home when the boat capsised and over 100 people drawn, 14 people consisting of 13 females and a child died.”

All the deceased persons have been buried according to Islamic rites. We pray Allah (SWT) to forgive them and accept their Shahad,” he prayed.