Overview:

Absa Bank Uganda launches a financial literacy campaign to help individuals and businesses improve borrowing habits and promote sustainable economic growth.

KAMPALA, Uganda — Absa Bank Uganda launched a campaign Thursday to promote financial literacy, aiming to help retail and business customers make more informed credit decisions and reduce the prevalence of nonperforming loans.

The initiative, which will run through the remainder of the year, focuses on educating borrowers on how to use debt as a tool for sustainable growth rather than a source of financial strain. Bank officials noted that many Ugandans seek credit without fully understanding how to structure loans or align them with long-term business goals.

Moses Rutahigwa, the retail and business banking director at Absa Bank Uganda, said the bank is committing to practical, deliberate conversations regarding money management and financial discipline.

The campaign features guidance on loan structuring and business planning delivered through branches and digital platforms. At an interactive session during the launch, finance experts and business leaders shared lessons on debt management and the discipline required to build a business over time.

The push for better financial education comes amid a slight recovery in the country’s credit sector. Bank of Uganda data shows the industry’s nonperforming loan ratio improved to 3.66% in September 2025, compared to 3.74% in the previous quarter.

Despite this downward trend, Rutahigwa said bad loans remain a systemic concern. He attributed the issue to poor planning and the diversion of funds toward unproductive uses.

The campaign aligns with broader efforts by the central bank and the Uganda Bankers Association to boost financial inclusion and protect consumers through education.

As part of the initiative, Absa is highlighting various financing options, including personal loans of up to 400 million Ugandan shillings, home loans of up to 2 billion shillings and unsecured business loans.

Absa Bank Uganda is a subsidiary of the Johannesburg-listed Absa Group Ltd. and operates 39 branches across the country.