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Kampala, Uganda | THE INDEPENDENT | Absa Bank Uganda has officially relaunched its flagship Absa Business Club, an enhanced platform designed to accelerate the growth of small and medium-sized enterprises (SMEs) through holistic business support, strategic networking, and access to regional and international markets.
At the heart of the relaunch is a bold, partnership-driven model that transforms the Business Club from a traditional banking initiative into a collaborative platform built around the real needs of SMEs. The refreshed Club now brings together credible partners, including Uganda Airlines, Grant Thornton Uganda, Prudential Uganda, DHL, and Enterprise Uganda, offering business owners an integrated ecosystem of support across market access, expert advisory, capacity building, and resilience planning.
Initially launched in 2004, the Absa Business Club has supported over 500 SMEs across Uganda. The 2025 relaunch introduces a refreshed structure built around four key pillars: access to markets, knowledge and capacity building, networking and growth, and financial and non-financial services.
“SMEs are the backbone of Uganda’s economy, contributing 90% of the private sector and over 80% of GDP, directly impacting livelihoods,” said David Wandera, Managing Director, Absa Bank Uganda. “From access to regional and global markets, expert financial and legal advisory, to resilience-building services like insurance and logistics, the revamped Club is designed to help entrepreneurs grow sustainable, future-ready businesses.”
Key Benefits of the Relaunched Business Club Include:
International Trade Missions – Including participation in the upcoming UK–Africa Business Forum, supported by discounted travel from Uganda Airlines, access to Business Credit Card with lounge benefits, and cross-border logistics advisory from DHL.
Expert Advisory & Training – Delivered in partnership with Enterprise Uganda and Grant Thornton, covering financial literacy, tax and compliance, export readiness, and digital transformation.
Strategic Networking & Learning – Business exhibitions, peer-to-peer learning forums, regional learning tours, and curated B2B linkages to foster business visibility and growth.
Tailored Financial & Non-Financial Services – Including preferential loan rates, discounted banking fees, free insurance cover through Prudential, exclusive Club banking benefits, and dedicated relationship support.
Expanding Regional and Global Trade Access
According to the Ministry of Finance, Uganda’s merchandise export receipts increased by 26% to US $9.3 billion in the 12 months to March 2025, signalling strong momentum in international trade expansion.
Jennifer Bamuturaki, CEO, Uganda Airlines, said: “Our partnership with the Absa Business Club is part of Uganda Airlines’ strategic commitment to driving regional integration and expanding Uganda’s footprint in global trade. By offering discounted travel and logistical support to SMEs, we are helping local entrepreneurs take their products, ideas, and services beyond borders.”
Driving Insurance Uptake for SME Resilience
Despite the critical role insurance plays in risk management, less than 1% of SMEs in Uganda have any form of business insurance (Insurance Regulatory Authority of Uganda, 2022).
Tetteh Ayitevie, CEO, Prudential Uganda, said: “Many SMEs still view insurance as a luxury, yet it’s one of the most critical tools for building resilience and long-term growth. This partnership aims to make insurance more accessible and relevant, helping entrepreneurs protect what they’re building and plan confidently for the future.”
Supporting Formalisation and Sustainable Business Growth
According to the World Bank Uganda Economic Update 2022, over 70% of SMEs in Uganda operate informally, limiting their ability to scale, attract investment, or access finance.
Anil Patel, CEO Grant Thornton Uganda, said: “Behind every successful business is sound advice, strong governance, and strategic planning. Through this collaboration, we aim to close the advisory gap and help SMEs build resilient enterprises ready for local and global opportunities.”
With membership available at UGX 40,000 per month, the Absa Business Club offers SMEs an affordable path to enterprise development, combining access to resources, mentorship, and growth-enabling networks.
“This Club is more than banking. It’s a growth engine and a community designed to equip Uganda’s entrepreneurs with the tools and networks they need to thrive in a fast-changing economy,” added Moses Rutahigwa, Retail and Business Banking Director at Absa Uganda.
The relaunch marks the beginning of Absa’s broader SME engagement strategy for the second half of 2025, including nationwide roadshows and regional trade missions, reinforcing the bank’s role as a leading partner in Uganda’s enterprise development and job creation.
