It is poised to further unlock Uganda’s potential and support the country’s accelerated growth with its new business strategy
Barclays Bank of Uganda Limited, one of the country's largest banks changed it's name to Absa Bank Uganda Limited and reaffirmed it's commitment to Uganda's growth and economic development.
We now begin a new chapter as Absa Bank Uganda Limited, adopting our parent company's name.
As an organisation, we believe in bringing the possibility to life, which means making a meaningful contribution to customers and the communities in which we operate. We have pledged to build on our long history of serving Uganda to continue unlocking potential in the country.
As a subsidiary of Absa Group Limited, a member of the Top 40 Index on the Johannesburg Stock Exchange, one of the continent's largest stock exchanges, Absa Bank Uganda Limited is poised to deliver award-winning expertise to enable people and businesses to realise there possibilities.
Fundamental enablers Our history in Uganda spans the last 92 years and we have invested in sectors crucial to the development of the national economy. These include trade, industry, agribusiness, energy, small-to-medium-sized enterprises, and infrastructure.
We have always seen ourselves as fundamental enablers: Serving companies of all sizes, as well as communities and entrepreneurs alike, without neglecting the ordinary citizen who seeks quality financial services and safe investments for there hard-earned money. Beginning of a new era The bank now marks the start of a new era as Absa Bank Uganda Limited, a truly African bank, with global scalability and reach.
It is poised to further unlock Uganda's potential and support the country's accelerated growth with it's new business strategy. In an increasingly globally competitive world, one of the country's, and indeed continent's, the greatest resource is it's young and growing workforce. Absa has been nurturing the potential of Uganda's youth by contributing to the education ecosystem for years.
Opportunities created We have created platforms to address knowledge gaps, provided opportunities to increase young people's employability prospects, remain firm. The company's commitment to education follows it's parent company's track record, which in 2017 included over $24m (about sh884b) in investments and provided technical assistance to institutions and administrators to improve the delivery of quality education to Ugandans.
Our commitment to these efforts made into education and skills development, support of more than 3,600 student scholarships, provision of over 1,200 students with workplace experience and registering over 215,000 new users onto it's ReadyToWork platform across Africa.
Business support initiatives Recognising the role of entrepreneurship in accelerating a countries' economic growth, Absa Group Limited raised over $29m (about sh1 trillion) in financing for small-to-medium-sized enterprises in 2017 and reached more than 64,000 small-to-medium-sized enterprises through it's business development support initiatives, and over 76,000 consumers with business and financial literacy training.
Much like our parent company Absa Group Limited, Absa Bank Uganda Limited hopes to make it easier for entrepreneurs in Uganda to establish and grow there businesses. Africanacity We have also unveiled a new marketing campaign, centred on the unique concept of an African city.
Africa is a continent of doers, always going above and beyond to get things done. We are inspired by this spirit that thrives on turning every challenge into an opportunity. As an organisation, we believe in getting things done, and in helping people find a way to get things done.
At Absa, we call this spirit ‘African city. No longer just a South African brand, the new Absa Group Limited is a truly African banking group with a presence in 12 African countries and international offices in London.
The process of rebranding branches, ATMs, forms, addresses, stationery, platforms, and more across 12 countries will be one of the continent's largest rebranding programmes. It is expected to be completed in mid-2020, and product and service functionality will not be affected by the rebranding programme.