ABSA Bank Uganda

Absa Bank Uganda: Empowering Uganda’s Financial Future Through Innovation and Africanicity

Absa Bank Uganda has established itself as a  financial institution in Uganda, offering a comprehensive range of banking services and products tailored to meet the diverse needs of individuals, businesses, and corporations. With a strong commitment to innovation, customer-centric solutions, and community development, Absa continues to redefine the banking landscape in Uganda.

ABSA’s Legacy of Transformation

Formerly operating as Barclays Bank Uganda, the institution underwent a significant rebranding in November 2019 to become Absa Bank Uganda Limited. This transition marked a new era of growth and innovation, aligning with the bank’s vision to be a forward-thinking and inclusive financial partner for Ugandans.

ABSA Comprehensive Banking Solutions

1. Personal Banking

Absa offers a variety of personal banking products designed to cater to the financial needs of individuals:

• Absa Flexi Account: An affordable and flexible account suitable for everyday banking needs.

• Home Loans: Financing options up to UGX 2 billion, enabling customers to purchase or build their dream homes.

• Medical Insurance: Coverage of up to UGX 100 million, providing access to quality healthcare services within Uganda, East Africa, and referrals to India.

• Credit Cards with Buy Now Pay Later (BNPL): A pioneering feature in Uganda’s banking sector, allowing customers to manage expenses by spreading payments over time through mobile and internet banking platforms.

2. Business Banking

Recognizing the critical role of Small and Medium Enterprises (SMEs) in Uganda’s economy, Absa provides tailored financial solutions:

• Unsecured Business Loans: Loans up to UGX 200 million with flexible repayment terms, supporting SMEs in overcoming collateral challenges.

• School Bridge Financing: Up to UGX 500 million in financing for educational institutions, aiding in operational and infrastructural development.

• Vehicle Asset Finance: Financing up to UGX 600 million for businesses seeking to acquire vehicles or equipment, with up to 100% financing and zero arrangement fees.

3. Corporate and Investment Banking

Absa’s corporate banking services are designed to support large enterprises and institutions:

• Debt Financing: Customized funding structures for infrastructure expansion, asset acquisition, and project financing.

• Asset Financing: Solutions for aviation, shipping, and land transportation sectors, including senior debt and export credit agency-enhanced debt. Absa | Corporate and Investment Banking

• Cash Management: Innovative and secure solutions for collections, payments, liquidity management, and channel optimization, enhancing operational efficiency.

ABSA Digital Banking Innovations

Absa Bank Uganda is at the forefront of digital transformation, offering a suite of digital banking services:

• Internet and Mobile Banking: Secure platforms for managing accounts, transferring funds, and paying bills.

• Hello Money: A USSD-based mobile banking service (*233#) that allows customers to perform banking transactions without internet access.

• NovoFX: A platform facilitating international payments, enabling customers to transact globally with ease.

• Contactless Payments: Cards equipped with contactless technology for fast and secure transactions.

Financial Performance and Market Leadership

In 2024, Absa Bank Uganda reported a 22% increase in profit after tax, reaching UGX 178 billion. This growth was driven by an expanded customer base, increased transactional activity, and enhanced credit support. The bank also issued over 70% of the credit cards in the market and processed 92% of the total credit card payment volumes nationwide, underscoring its leadership in digital payments.

Absa Bank Uganda’s dedication to innovation, customer satisfaction, and community development positions it as a pivotal player in Uganda’s financial sector. Through its diverse range of products and services, commitment to digital transformation, and focus on sustainable practices, Absa continues to empower individuals and businesses, contributing significantly to Uganda’s economic growth and development.

For more information on Absa Bank Uganda’s offerings and initiatives, visit their official website:

More Info: Absa

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