Absa Bank Uganda has relaunched its flagship Business Club, positioning it as a comprehensive platform to support small and medium-sized enterprises (SMEs) through market access, expert advisory services, and regional and international trade linkages.
First introduced in 2004, the Absa Business Club has so far served more than 500 SMEs across the country. The latest revamp introduces a fresh approach centred on partnerships with both local and international institutions to offer members practical solutions beyond traditional banking.
The refreshed Club brings together strategic partners including Uganda Airlines, Grant Thornton Uganda, Prudential Uganda, DHL, and Enterprise Uganda, creating what Absa describes as an “integrated ecosystem” to address SME needs such as market entry, financial advisory, logistics, capacity building, and risk management.
“SMEs form the backbone of Uganda’s economy, contributing 90 percent of the private sector and more than 80 percent of GDP, which directly impacts livelihoods across the country,” said David Wandera, Managing Director of Absa Bank Uganda, during the launch event in Kampala.
He added that the revamped Club is designed to address SME challenges through four core pillars: access to markets, knowledge and capacity building, networking and business growth, and financial and non-financial services.
One of the flagship initiatives under the relaunch is access to international trade missions, including participation in the upcoming UK–Africa Business Forum. Members will also benefit from discounted airfares on Uganda Airlines, preferential business credit card packages with lounge access, and cross-border logistics support from DHL.
Additionally, members will have access to expert training and advisory services through Enterprise Uganda and Grant Thornton Uganda. These will cover key areas such as financial literacy, tax and regulatory compliance, export readiness, and digital transformation.
SMEs will also benefit from networking opportunities through exhibitions, peer learning forums, regional business tours, and curated B2B engagements to increase visibility and growth prospects.
Financial support options include discounted loan rates, lower banking fees, free business insurance from Prudential Uganda, and exclusive banking privileges through dedicated relationship managers.
According to Ministry of Finance data, Uganda’s merchandise export receipts rose by 26 percent to US$9.3 billion in the 12 months to March 2025, highlighting increased opportunities in regional and international trade.
Jennifer Bamuturaki, CEO of Uganda Airlines, said the partnership with Absa Business Club aligns with the airline’s strategy to boost regional integration and enhance Uganda’s role in global trade.
“By offering discounted travel and logistical support, we are helping SMEs export their products, services, and ideas beyond Uganda’s borders,” Bamuturaki said.
Despite the vital role insurance plays in cushioning businesses, insurance penetration among SMEs remains extremely low, with less than 1 percent of SMEs having any form of business insurance, according to the Insurance Regulatory Authority of Uganda.
Tetteh Ayitevie, CEO of Prudential Uganda, noted that insurance is often viewed by SMEs as a luxury rather than a necessity. “Our partnership aims to demystify insurance and make it both accessible and relevant for SMEs seeking long-term stability and growth,” he said.
Formalisation remains another pressing issue for Uganda’s business community. The World Bank’s Uganda Economic Update 2022 revealed that more than 70 percent of SMEs operate informally, making it difficult for them to access financing and attract investment.
Anil Patel, CEO of Grant Thornton Uganda, said the partnership aims to bridge the advisory gap and assist SMEs in developing sustainable, well-governed enterprises capable of leveraging both domestic and international opportunities.
Membership to the Absa Business Club is priced at shs 40,000 per month, offering SMEs a structured platform for enterprise development, mentorship, and market access.
“This Club goes beyond banking. It is a dynamic growth engine and a community designed to equip Uganda’s entrepreneurs with the tools, knowledge, and networks they need to thrive in today’s competitive landscape,” said Moses Rutahigwa, Retail and Business Banking Director at Absa Uganda.
Absa says the relaunch is part of its broader SME strategy for the second half of 2025, with upcoming activities including national business roadshows and regional trade missions.
