KAMPALA, Uganda — Absa Bank Uganda has relaunched its Business Club, a key initiative aimed at accelerating the growth and resilience of small and medium-sized enterprises (SMEs) across the country. The revamped platform introduces a collaborative model, partnering with several prominent organisations to offer integrated support.
The new Absa Business Club, unveiled on Wednesday, seeks to provide comprehensive assistance to Uganda’s vital SME sector, which contributes significantly to the national economy. Partners in the initiative include Uganda Airlines, Grant Thornton Uganda, Prudential Uganda, DHL and Enterprise Uganda, providing expertise in areas from market access to financial planning.
David Wandera, Absa Bank Uganda’s managing director, highlighted the importance of the sector. “SMEs are the backbone of Uganda’s economy, contributing 90% of the private sector and more than 80% of gross domestic product,” he stated. “The revamped club is designed to help entrepreneurs grow sustainable, future-ready businesses.”
First established in 2004, the club has previously supported over 500 SMEs. Its 2025 relaunch is structured around four core pillars: Access to Markets, Knowledge and Capacity Building, Networking and Growth, and Financial and Non-Financial Services.
Key Support Areas
The club’s offerings include international trade missions, with discounted travel through Uganda Airlines and logistics advice from DHL. This support comes as Uganda’s merchandise export receipts saw a notable 26% increase to $9.3 billion in the 12 months leading up to March 2025, according to the Ministry of Finance.
Jennifer Bamuturaki, chief executive officer of Uganda Airlines, said the partnership was a “strategic commitment to driving regional integration and expanding Uganda’s footprint in global trade.”
For expert advisory and training, the club has teamed up with Enterprise Uganda and Grant Thornton to provide guidance on financial literacy, tax compliance and digital transformation.
A crucial focus is building SME resilience, particularly given that less than 1% of Ugandan SMEs have any form of business insurance, according to 2022 data from the Insurance Regulatory Authority of Uganda.
“Many SMEs still view insurance as a luxury, yet it’s one of the most critical tools for building resilience and long-term growth,” explained Tetteh Ayitevie, chief executive officer of Prudential Uganda. The partnership aims to make insurance more accessible, helping entrepreneurs “protect what they’re building and plan confidently for the future.”
The club also addresses the issue of informality, as the World Bank’s 2022 Uganda Economic Update noted that more than 70% of Ugandan SMEs operate outside formal structures. Anil Patel, chief executive officer of Grant Thornton Uganda, stressed the importance of “sound advice, strong governance, and strategic planning” to help SMEs formalise and scale.
Membership is available at 40,000 Ugandan shillings (approximately $10.75) per month, aiming to offer an affordable pathway to enterprise development.
Moses Rutahigwa, Absa Uganda’s retail and business banking director, described the club as “a growth engine and a community designed to equip Uganda’s entrepreneurs with the tools and networks they need to thrive.”
The relaunch initiates Absa’s broader SME engagement strategy for the latter half of 2025, which includes nationwide roadshows and regional trade missions, reinforcing the bank’s commitment to Uganda’s enterprise development and job creation.
