While presenting Absa Bank Uganda’s 2024 performance, David Wandera, the Interim Managing Director, repeatedly emphasised that everything his bank does is driven by one purpose—”empowering Africa’s tomorrow together, one story at a time.” And this is not just a nice thing to say, but rather something the bank puts into practice. An analysis of the bank’s stakeholder presentation shows the bank didn’t just make its shareholders smile, but it did so inclusively, not leaving other stakeholders behind.
“Sustainability is not just a commitment, it’s embedded in how we do business,” said David Wandera, Interim Managing Director of Absa Bank Uganda. “We take a holistic approach to ESG, integrating environmental and social responsibility into everything we do.”
Being a Force for Good in the Community
Absa’s corporate citizenship agenda in 2024 was anchored on empowering individuals, enabling businesses, and building resilient communities. Through its financial literacy programmes, the bank trained 44,428 individuals, helping them make better financial decisions and secure long-term economic stability. In partnership with DHL Uganda, Absa also supported 1,060 small and medium-sized enterprises (SMEs) with international trade training, boosting their competitiveness and access to global markets.
Further contributing to youth development, the bank’s ReadytoWork programme equipped 2,351 young people with work, people, money, and entrepreneurial skills—providing a bridge from education to employment in a challenging job market.
Absa’s philanthropic engagements were equally noteworthy. The bank donated UGX 100 million to the Uganda Red Cross to support emergency relief for victims of the Kitezi landfill slide, and UGX 25 million to provide meals to vulnerable families during Ramadan. Its flagship community run, the KH3–7 Hills Run, raised UGX 300 million which went toward keeping 7,278 girls in school, working with strategic partners to eliminate barriers to education.
Employee participation was also a defining feature of the bank’s citizenship efforts. 267 colleagues volunteered across the country, dedicating a total of 1,830 hours toward social impact projects—demonstrating Absa’s belief in corporate responsibility at all levels.
“These initiatives speak to our deep commitment to being a force for good and delivering lasting impact in the communities we serve,” Wandera noted.
ESG and Corporate Citizenship Agenda – Climate Action and Green Financing
At the heart of Absa’s environmental agenda in 2024 was the drive to support a just and sustainable transition. The bank extended UGX 38 billion in green financing to support Uganda’s shift to clean transport, with a particular focus on financing e-mobility for boda boda riders. This initiative provided affordable credit to individuals in the informal transport sector, helping them upgrade to electric motorcycles that reduce carbon emissions and improve livelihoods.
The bank also made significant investments in environmental restoration. As part of its 1 million tree planting commitment over three years, Absa planted 372,643 trees in 2024 alone, bringing its total to 745,765 trees since the programme’s inception. These efforts aim to reverse environmental degradation, protect water sources, and enhance Uganda’s climate resilience.
Absa also embraced water conservation through innovation. The bank harvested 427,000 cubic units of rainwater across its premises, reducing dependency on freshwater resources and demonstrating leadership in sustainable facilities management.
These environmental milestones, combined with targeted financing solutions, signal Absa’s shift from compliance-based ESG reporting to value-led environmental stewardship.
Enabling Growth – Empowering Uganda’s Economic Growth
The bank’s sustainability agenda extended into the core of its lending and business strategy, with a focus on empowering Uganda’s real economy. As of December 2024, Absa’s total lending to the agriculture sector stood at UGX 594 billion, representing 17% of its total loan book. Lending to trade amounted to UGX 1.048 trillion, or 30%, while manufacturing received UGX 428 billion, accounting for 12.2%. Personal loans to individuals reached UGX 371 billion, making up 10.6% of the total.
This sector-based financing model is designed to not only drive commercial performance, but also foster inclusive development by unlocking value in areas where growth has the highest social multiplier effect.
“Our 2024 performance reflects our commitment to sustainable value creation,” noted David Wandera. “We achieved a 15.1% increase in total revenue and a 12.7% rise in net customer loans, driven by growth in key sectors like trade, agriculture, and manufacturing. These results reflect disciplined execution, sector-focused lending, and the embedment of our refreshed, human-centred brand promise – Your Story Matters.”
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At the community level, the bank demonstrated its commitment to local economic development through purposeful purchasing. In 2024, “82% of suppliers engaged by the bank were local,” with UGX 76 billion paid out to them, reinforcing the bank’s role as a value-chain anchor and employer of local services.
The bank’s inclusive economic impact was also embedded in its employment and leadership practices. Women now hold 45% of middle and junior management roles, while senior female representation rose to 38.4%, up from 33.3% in 2023. These numbers reflect a deliberate effort to promote equity and inclusion in leadership.
Further, through agency banking and digital outreach, Absa ensured its services reached the underserved. In 2024, the bank “processed over 8.1 million transactions through 1,971 agency banking locations, ensuring service reach even in remote areas.”
“Our leadership in digital payments and agency banking isn’t just about technology—it’s about improving access, inclusion, and convenience,” said Wandera.
From farmers in rural Uganda and traders in downtown markets to industrialists and small business owners looking to scale, Absa’s financing activities in 2024 were not just aligned with profit—it was aligned with national priorities. Whether it was funding agriculture, supporting women-led businesses, or facilitating import substitution through manufacturing credit, the bank played a catalytic role in advancing Uganda’s development agenda.
This impact-led growth model demonstrates that banks can be powerful engines of inclusive development, especially when lending, purchasing, and staffing strategies are intentionally designed to uplift people and communities.
Gender Equity, Inclusion, and Employee Empowerment
In 2024, Absa Uganda also achieved notable progress in workplace inclusion and gender equity. The bank reported that senior female representation rose to 38.4%, up from 33.3% in 2023, while 45% of middle and junior management roles were held by women. These outcomes were the result of deliberate talent development strategies, mentorship, and equal opportunity policies.
The organisation was recognized with the ‘Woman of the Future Award’ at the inaugural Nation Media Group Empower Her Awards—an accolade that highlighted Absa’s industry leadership in promoting female leadership.
Moreover, the bank was ranked No. 1 across the Absa Group in the Absa Colleague Experience Survey, based on employee job satisfaction, engagement, and advocacy. This ranking underscored the success of Absa Uganda’s internal culture, which prioritizes staff well-being and inclusivity as foundations for long-term performance.
Strategic Integration of ESG into the Bank’s Core Business Model
Absa Bank Uganda’s ESG efforts are not standalone. Rather, they are integrated into its overall corporate strategy and decision-making frameworks. The bank’s leadership has clearly articulated the ambition to align growth with sustainability.
The bank’s 2025 outlook outlines a strategic focus on “enhancing the customer experience by leveraging digital innovation, providing platforms for greater customer convenience and future-ready solutions,” while also “continuing to integrate Environmental, Social, and Governance (ESG) principles into our decision-making processes, ensuring that sustainability is at the heart of our operations.”
“We take pride in empowering businesses, enabling opportunities, and contributing meaningfully to national progress,” said Wandera. “Together, we will keep shaping Uganda’s success story — because, at Absa, Your Story Matters.”
In a statement outlining the medium-term outlook, Executive Director and CFO Michael Segwaya affirmed the bank’s preparedness for the future:
“With a stabilizing macroeconomic environment and a strong risk governance framework, Absa Bank Uganda is well-positioned to sustain momentum and deliver value for all stakeholders.”