Business
Absa Bank Uganda Relaunches Business Club to Empower SMEs with Global Access and Strategic Partnerships
In a move to accelerate small and medium-sized enterprise (SME) growth in Uganda, Absa Bank Uganda has officially relaunched its Absa Business Club, introducing a revitalized platform designed to offer holistic business support, strategic networking, and access to regional and global markets.
The relaunch, announced today, signals a shift from traditional banking support to a collaborative, partnership-driven model tailored to the real-world challenges and ambitions of Ugandan entrepreneurs.
A New Era of SME Empowerment
First launched in 2004, the Absa Business Club has already supported over 500 SMEs across the country. The 2025 refresh builds on this legacy with a new structure grounded in four key pillars: Access to Markets, Knowledge and Capacity Building, Strategic Networking and Growth, Financial and Non-Financial Services.
“SMEs are the backbone of Uganda’s economy, contributing 90% of the private sector and over 80% of GDP. The revamped Club is designed to help entrepreneurs build sustainable, future-ready businesses,” said David Wandera, Managing Director of Absa Bank Uganda.
Powerhouse Partnerships
Absa has brought on board influential partners including Uganda Airlines, Grant Thornton Uganda, Prudential Uganda, DHL, and Enterprise Uganda. Together, they form an integrated support ecosystem for SMEs, delivering everything from financial advisory to logistics, insurance, and export readiness.
International Trade Missions: Members can participate in global forums such as the UK–Africa Business Forum, with discounted travel from Uganda Airlines and logistics support from DHL.
Expert Advisory & Training: Financial literacy, tax, digital transformation, and export-readiness courses will be offered in partnership with Grant Thornton and Enterprise Uganda.
Strategic Networking: Business exhibitions, regional learning tours, and curated B2B linkages will foster peer learning and business visibility.
Tailored Services: SMEs will access preferential loan rates, discounted banking fees, **free insurance cover from Prudential**, and dedicated business relationship support.
Addressing SME Challenges
The relaunch directly tackles some of the most pressing barriers SMEs face:
Low insurance uptake: With less than 1% of SMEs insured, Prudential Uganda CEO Tetteh Ayitevie emphasized the importance of de-risking enterprise.
Informality and lack of advisory: Over 70% of Ugandan SMEs operate informally, limiting access to finance and investment.
Global trade access: Uganda’s merchandise exports jumped by 26% to $9.3 billion in the 12 months to March 2025.
Jennifer Bamuturaki, CEO of Uganda Airlines, stressed their role in driving regional trade.
“We want to help local entrepreneurs take their products and ideas beyond borders.”
Affordable Growth Engine
Membership to the Absa Business Club is set at just **UGX 40,000 per month**, making it an **accessible yet powerful resource for growth-focused entrepreneurs.
“This Club is more than banking, it’s a growth engine and a community built to equip entrepreneurs for a fast-changing economy,” said Moses Rutahigwa, Retail and Business Banking Director at Absa Uganda.
Looking Ahead
The relaunch also sets the stage for Absa’s broader SME engagement strategy for the second half of 2025, which includes nationwide roadshows and regional trade missions, reinforcing the bank’s commitment to enterprise development and job creation in Uganda.
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