Absa Bank Uganda has launched a wealth investment and advisory proposition as participation in Uganda’s capital markets continues to expand, with assets under management in Collective Investment Schemes (CIS) reaching Shs7.06 trillion.
The new Absa Wealth proposition is designed to help customers invest, diversify and preserve their wealth by bringing investment advisory, specialised lending, multi-currency banking and local and international investment opportunities under one banking relationship.
Figures from the Capital Markets Authority (CMA) show that assets under management in Collective Investment Schemes have increased from Shs731 billion in June 2021 to Shs7.06 trillion, while the number of funded investor accounts has surpassed 220,000.
The growth comes amid a broader expansion of Uganda’s long-term savings and investment sector.
The retirement benefits industry now manages more than Shs30 trillion in assets, according to figures for the 2024/25 financial year, while Uganda’s economy grew by 6.4% in the 2025/26 financial year to an estimated Shs250.4 trillion.
Speaking at the launch, Absa Bank Uganda managing director David Wandera said the growth of the economy and accumulation of wealth required a shift in how customers approach their finances.
“As Uganda’s economy grows and more wealth is created, the conversation must increasingly move beyond how we save to how we invest, diversify and preserve that wealth,” Wandera said.
He said Absa’s relationship with customers had traditionally covered transactions, savings, borrowing and business growth, but the new proposition would allow the bank to support customers as they move into more sophisticated investment decisions.
“Absa Wealth allows us to extend that relationship further by helping them put their money to work and make more deliberate investment decisions for the future,” he said.
The proposition combines Absa Bank Uganda’s local market expertise with the wider capabilities of Absa Group, enabling eligible customers to access selected investment opportunities outside Uganda.
These include opportunities in markets such as Mauritius and investments denominated in US dollars, euros and British pounds.
Customers can also access a range of international investment products, including foreign currency bonds, mutual funds, exchange-traded funds and structured deposits.
Wandera said the bank’s approach would focus on customers’ individual financial objectives rather than promoting a single investment product.
“Wealth management is not about a single product or investment. It starts with understanding a customer’s goals and developing a tailored strategy to help them achieve them,” he said.
He added that the proposition would allow the bank to consider customers’ banking, liquidity, financing and investment needs together.
“Our proposition allows us to look at a customer’s banking, liquidity, financing and investment needs more holistically and, through Absa’s broader African and international capabilities, support them as those needs become more sophisticated,” Wandera said.
The proposition is also targeting customers at different stages of their investment journey.
Through Absa Invest Plus, customers can start investing with as little as Shs10,000 or the equivalent in US dollars.
The professionally managed solution, offered through Absa and managed by Sanlam, provides access to low-risk investment funds denominated in shillings and US dollars, with investments mainly in government securities and other interest-bearing assets.
Customers can also invest in Government Treasury Bills and Treasury Bonds through the bank.
For customers with more advanced financial needs, Absa said the proposition provides access to wealth advisory, specialised lending, multi-currency banking and local and international investment opportunities.
The launch comes as Uganda’s capital markets continue to mobilise significant amounts of domestic savings.
The CMA estimates that more than Shs23.4 trillion has been mobilised through the country’s capital markets, underscoring their growing role in providing investment capital and long-term savings solutions.
CMA chief executive officer Josephine Okui Ossiya said the increase in investor participation indicated growing confidence in Uganda’s regulated capital markets.
“The growth in investor participation reflects increasing confidence in Uganda’s regulated capital markets,” Ossiya said.
She, however, stressed that the expansion of the market must be accompanied by investor protection, transparency and appropriate financial education.
“As the regulator, our priority is to ensure that this growth is sustained and extended to a wider segment of the population within a framework that safeguards investors and preserves market integrity,” she said.
Ossiya said investment products should be appropriately structured and clearly disclosed, while also matching the needs and risk profiles of different investors.
“This requires investment products that are appropriately structured, transparently disclosed and suited to the needs and risk profiles of different investors, supported by continuous investor education and effective investor protection measures,” she said.
She also urged licensed financial institutions to uphold regulatory standards as they bring more Ugandans into formal investment markets.
“Licensed financial institutions have a responsibility to uphold these standards as they connect more Ugandans to regulated investment opportunities and contribute to a stronger culture of long-term investing,” Ossiya said.
The launch brought together officials from the CMA and Bank of Uganda, fund managers and investment industry stakeholders, including Cornerstone, Sanlam Allianz, Prudential and Old Mutual.
Absa said the new proposition is intended to help customers move beyond simply accumulating savings towards more deliberate investment, wealth creation and long-term financial planning.
