In a bold move to revolutionize banking in Uganda, Absa Bank Uganda has introduced instant digital loans and an online account opening platform, giving customers faster, paperless, and hassle-free access to banking services.
Dubbed the Digi Loan, this new service allows eligible users to instantly borrow between UGX 20,000 and UGX 2 million—no paperwork, no branch queues, no delays.
The loan application and disbursement process takes only a few seconds, offering immediate financial relief when needed.
Alongside the Digi Loan, Absa has launched a self-service online portal that lets anyone open a bank account using just a smartphone or computer. No physical forms or branch visits are required, making onboarding fast, secure, and highly accessible.
Speaking at the launch, Michael Segwaya, CFO and Executive Director at Absa Bank Uganda, emphasized the bank’s mission to lead digital transformation in Uganda’s financial sector.
“These services support Uganda’s digital economy goals and offer real convenience by eliminating paperwork and in-person banking,” said Segwaya.
Moses Rutahigwa, the bank’s Retail and Business Banking Director, said the new digital onboarding system meets modern expectations for speed and simplicity.
“Our goal is a modern, intelligent, and fully customer-centric experience. These innovations align perfectly with that vision,” he noted.
This rollout comes at a time when digital finance is reshaping Uganda’s economy. According to the Bank of Uganda, mobile money platforms disbursed over UGX 9.5 trillion in digital loans in 2023 alone—an indicator of rising demand for fast, flexible credit options.
Rachel Rwakatungu, Credit Director at Absa Uganda, believes the digital loan service provides real empowerment.
“This gives people a safe, responsible, and efficient way to access credit. We’re putting financial control in their hands,” she said.
These innovations solidify Absa’s growing reputation as a digitally-driven, customer-focused bank committed to smart, inclusive solutions for all Ugandans—whether urban professionals or rural entrepreneurs.
As a subsidiary of Absa Group Limited, one of Africa’s leading financial institutions listed on the Johannesburg Stock Exchange, Absa Uganda is continuing to align with global best practices while tailoring its solutions to local needs.
In a market increasingly defined by speed and accessibility, Absa’s latest offerings are not just upgrades—they’re game-changers for financial inclusion in Uganda.
