By David Mwanje
Kampala– Absa Bank Uganda unveiled a reinvigorated Absa Business Club on Wednesday, igniting a new era for the nation’s small and medium-sized enterprises (SMEs). Launched in a vibrant ceremony at Kampala’s Serena Hotel, the revamped platform unites powerhouse partners Uganda Airlines, Grant Thornton Uganda, Prudential Uganda, DHL, and Enterprise Uganda to create a dynamic ecosystem for SME growth. “SMEs are the heartbeat of Uganda’s economy, driving 90% of the private sector and over 80% of GDP,” said Absa’s Managing Director David Wandera. “This club is their launchpad to sustainable, global success.”
Originally launched in 2004, the Absa Business Club has empowered over 500 SMEs, and the 2025 relaunch introduces a robust framework built on four pillars: Access to Markets, Knowledge and Capacity Building, Networking and Growth, and Financial and Non-Financial Services. For just 40,000 Ugandan shillings ($10.75) monthly, members gain access to international trade missions, including the U.K.–Africa Business Forum, with discounted travel from Uganda Airlines and logistics support from DHL.
Training programs with Enterprise Uganda and Grant Thornton will cover financial literacy, tax compliance, and digital transformation, while networking opportunities like regional tours and business-to-business linkages boost visibility. Members also enjoy preferential loan rates, discounted banking fees, and free insurance through Prudential Uganda. “This isn’t just banking t’s a growth engine,” said Moses Rutahigwa, Absa’s Retail and Business Banking Director.
The relaunch aligns with Uganda’s booming export market, which saw a 26% surge in merchandise receipts to $9.3 billion by March 2025, per the Ministry of Finance. “We’re helping SMEs take their products global,” said Jennifer Bamuturaki, CEO of Uganda Airlines, emphasizing discounted travel and logistical support.
Meanwhile, with less than 1% of SMEs insured, according to 2022 data from the Insurance Regulatory Authority of Uganda, Prudential Uganda’s partnership addresses a critical gap. “Insurance is a shield for growth,” said CEO Tetteh Ayitevie. Grant Thornton tackles another challenge over 70% of SMEs operate informally, per the World Bank’s 2022 Uganda Economic Update by offering advisory on governance and formalization. “We’re building resilient enterprises ready for global opportunities,” said CEO Anil Patel.
Entrepreneurs like Sarah Mbabazi, a textile exporter, are buzzing with excitement. “With trade missions and DHL’s support, I can see my designs in London and Dubai,” she said. As Absa gears up for nationwide roadshows and regional trade missions in late 2025, the Business Club is poised to redefine Uganda’s entrepreneurial landscape.
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