Absa Bank Uganda has introduced a new wealth investment and advisory proposition, Absa Wealth, in response to growing demand for professionally managed investment products in the country. The launch, which took place on October 7 in Kampala, aims to provide customers with a range of banking, advisory, and investment services. This move comes as assets in Uganda's Collective Investment Schemes have reached Shs7.06tn, spread across more than 220,000 funded investor accounts.
According to the Capital Markets Authority (CMA), the value of assets in Collective Investment Schemes has increased significantly from Shs731bn in June 2021, indicating growing participation in professionally managed investments. The growth in assets reflects a rising appetite for investment products in Uganda, driven by an expanding pool of long-term savings. The retirement benefits sector, for instance, managed more than Shs30tn in assets in FY2024/25.
The Ugandan economy has also experienced growth, with a 6.4% increase in FY2025/26 to approximately Shs250.4tn. Absa Bank Uganda's Managing Director, David Wandera, noted that the changing investment environment requires banks to help customers move beyond traditional saving. He emphasized the need for a more deliberate approach to investment, wealth creation, and long-term financial security.
Absa Wealth combines Absa's knowledge of the Ugandan market with the wider capabilities of Absa Group, giving eligible customers access to investment opportunities in other markets, including Mauritius. Customers can invest in US dollars, euros, and British pounds, while the wider offering includes foreign currency bonds, mutual funds, exchange-traded funds, and structured deposits.
Wandera highlighted the importance of understanding individual financial goals in wealth management, rather than focusing on a single investment product. He noted that wealth management starts with understanding a customer's goals and developing a tailored strategy to help them achieve them. Absa Wealth is designed for 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 funds denominated in shillings and US dollars, investing primarily in government securities and other interest-bearing investments. Customers can also access Government Treasury Bills and Treasury Bonds through Absa.
Josephine Okui Ossiya, Chief Executive Officer of the CMA, said growing investor participation reflects increased confidence in Uganda's regulated capital markets. She emphasized the responsibility of financial institutions to ensure that investment products are appropriately structured, transparently disclosed, and suited to customers' needs and risk profiles. The launch of Absa Wealth was attended by officials from the CMA and Bank of Uganda, fund managers, and investment industry players.
Key points
- Absa Bank Uganda has launched Absa Wealth, a wealth investment and advisory proposition, to help customers invest, diversify, grow, and preserve their wealth.
- Assets in Uganda's Collective Investment Schemes have reached Shs7.06tn, spread across more than 220,000 funded investor accounts.
- The Ugandan economy grew by 6.4% in FY2025/26 to approximately Shs250.4tn.
