Absa Bank Uganda has rolled out two new digital services—Digi Loans and Online Account Opening—as it looks to meet growing demand for faster, more accessible banking in the country.
The bank says the innovations are designed to simplify how customers access credit and open accounts, cutting out paperwork, queues, and branch visits altogether.
With Digi Loans, eligible customers who have held an Absa account for at least a year can borrow between UGX 20,000 and UGX 2 million instantly. Applications, approvals, and disbursements are processed in seconds via the Absa Mobile Banking App, Internet Banking, or Hello Money (USSD), all without stepping into a branch.
The launch comes at a time when Uganda’s financial habits are undergoing a rapid shift.
Figures from the Uganda Communications Commission show that, as of September 2024, the country had 45.6 million registered mobile money accounts, with more than 30 million active users. Smartphone ownership now stands at around 33%, helped by lower handset prices and a growing preference for mobile-led services—particularly among the country’s young population.
Over 75% of Ugandans are under the age of 30, according to the Uganda Bureau of Statistics. Many of them are digital natives, shaping a new wave of expectations around how financial services should work.
“This launch reflects our continued commitment to enhancing efficiency and empowering our customers by making banking truly accessible and on-demand,” said Michael Segwaya, Absa Uganda’s Executive Director and Chief Financial Officer.
Alongside the loan product, Absa has introduced a digital account-opening platform that allows new customers to open accounts using a smartphone or computer. The fully self-service process includes national ID verification, photo uploads, and service selection—all completed online.
“We’re redefining how customers join and experience the bank,” said Moses Rutahigwa, Retail and Business Banking Director at Absa Uganda. “This is about offering a modern, tech-forward experience that puts convenience first.”
The move also reflects broader trends in Uganda’s lending landscape. In 2023, mobile money loans worth more than UGX 9.5 trillion were disbursed, according to figures from the Bank of Uganda. That figure highlights both the appetite for short-term credit and the dominance of telecom-led lending platforms in the space.
“This is more than just convenience,” said Rachel Rwakatungu, the bank’s Credit Director. “It’s about giving people the tools to access and manage credit quickly, safely, and responsibly.”
As digital adoption accelerates, Absa is positioning itself as a player in Uganda’s tech-driven financial future—offering products built for speed, flexibility, and life on the go.
