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In a bid to support customers in meeting their beginning-of-year goals, Absa Bank Uganda has unveiled solutions under a dynamic two-fold campaign designed to bolster both individual aspirations and business growth.
The three-month campaign, under the theme “Jooga2024 Ne Absa” for individuals and “Tumbula Business Yo Ne Absa” for businesses offers a complete package for both personal and business customers to achieve new year plans, goals, dreams, and needs with freedom.
Ronald Kamulegeya, Absa Bank Uganda’s Head of Customer Network, said, “Following the festive season – which is characterised by a lot of spending, travel and the like, the beginning of the year requires us to set resolutions, goals and aspirations that require financing. This is why Absa Bank Uganda is coming forward with various financing solutions to help every kind of customer begin the journey to achieving their goals and enjoying a smooth 2024.”
The campaign also offers flexible solutions for every kind of individual need, whether borrowing, saving, insurance or transactional. Special promotional offers announced included a boost to parents who can now access school fees loans or unsecured salary loans of up to UGX 300 million with zero arrangement fees, and a 75-day repayment holiday to alleviate the pressure of the new year.
Additionally, individuals can access a free account, Absa Flexi; Absa Medical Insurance offers up to UGX 100 million medical cover with reliable facilities in Uganda, East Africa, and referral in India; Home loans of up to UGX 2 billion.
According to the Ministry of Finance, Planning and Economic Development, Uganda’s Vision 2040 identifies human capital development as critical to the development of the nation1. Similarly, SMEs being the engine of the economy and accounting for 80% of Uganda’s GDP2, require bespoke solutions amid challenges in accessing finance to spur further growth.
“In addressing the challenge of access to credit due to stringent collateral requirements, we now have unique business unsecured instalment loans of up to UGX 200 million with a flexible loan repayment of three years for SMEs,” said Albert Byaruhanga, the bank’s Business Banking Director as he announced a revamped offering supporting SMEs across the country.
The new education sector value proposition provides a holistic sector solution, including the School Bridge Financing offer of up to UGX 500 million with zero arrangement fees. With this, education institutions can access capital to kickstart the year.
Further still, the Vehicle Asset Finance caters to businesses seeking to acquire additional vehicles or equipment with up to UGX 600 million, providing financing of up to 100% of the value with zero arrangement fees.
Byaruhanga added, “Absa is a bank driven by the purpose of empowering Africa’s tomorrow, together, one story at a time, and we live this purpose by proactively seeking ways to enable our customers to achieve all their desired objectives through flexible and bespoke financial solutions for everyone.”
To take advantage of the offer, customers can visit the bank’s website, www.absa.co.ug or visit Absa Bank branches countrywide.
About Absa Bank Uganda Limited
Absa Bank Uganda Limited is part of Absa Group Limited, one of Africa’s largest diversified financial services groups listed on the Johannesburg Stock Exchange.
With 39 branches and 76 ATMs countrywide, Absa Uganda is committed to finding local solutions to uniquely local challenges and everything we do is focused on bringing people’s possibilities to life. To this end, we offer our clients a range of retail, business, corporate and investment solutions. The Bank is committed to being a force for good, which to us means working to improve lives and strengthen the communities in which we operate.
Absa Bank Uganda Limited is regulated by the Bank of Uganda. For further information about Absa Bank Uganda Limited, please visit www.absa.co.ug