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Kampala, Uganda | THE INDEPENDENT | Absa Bank Uganda has launched a wealth investment and advisory proposition as demand for professionally managed investment products grows, with assets in Uganda’s Collective Investment Schemes reaching Shs7.06tn.
The new Absa Wealth proposition, launched on Oct.7 in Kampala is designed to help customers invest, diversify, grow and preserve their wealth through a range of banking, advisory and investment services.
According to the Capital Markets Authority (CMA), the Shs7.06tn held in Collective Investment Schemes is spread across more than 220,000 funded investor accounts. The value has increased from Shs731bn in June 2021, indicating growing participation in professionally managed investments.
The development comes as Uganda’s pool of long-term savings continues to expand. The retirement benefits sector managed more than Shs30tn in assets in FY2024/25, while the economy grew by 6.4% in FY2025/26 to approximately Shs250.4tn.
David Wandera, Managing Director of Absa Bank Uganda, said the changing investment environment requires banks to help customers move beyond traditional saving.
“As Uganda’s economy grows and more wealth is created, the conversation must increasingly move beyond how we save to how we invest, diversify and preserve that wealth,” Wandera said.
“We already support our customers to transact, save, borrow and grow their businesses. Absa Wealth allows us to extend that relationship further by helping them put their money to work and make more deliberate investment decisions for the future.”
The proposition 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 said wealth management requires a broader understanding of individual financial goals rather than focusing on a single investment product.
“Wealth management is not about a single product or investment. It starts with understanding a customer’s goals and developing a tailored strategy to help them achieve them,” he said.
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, while those with more sophisticated requirements can access specialised lending, wealth advisory, multi-currency banking and local and international investment opportunities.
Josephine Okui Ossiya, Chief Executive Officer of the CMA, said growing investor participation reflects increased confidence in Uganda’s regulated capital markets.
She said financial institutions have a responsibility to ensure that investment products are appropriately structured, transparently disclosed and suited to customers’ needs and risk profiles.
Beyond Collective Investment Schemes, more than Shs23.4tn has been mobilised through Uganda’s capital markets, highlighting their growing role in generating long-term savings and investment capital.
The launch brought together officials from the CMA and Bank of Uganda, fund managers and investment industry players, including Cornerstone, Sanlam Allianz, Prudential and Old Mutual.
Absa said the new proposition is intended to support customers in taking a more deliberate approach to investment, wealth creation and long-term financial security.
