Absa offers Shs66m in prizes to boost SME card payments

What the report says

Absa Bank Uganda has launched a three-month promotion aimed at increasing use of Business Debit Cards among small and medium-sized enterprises (SMEs). According to The Independent Uganda, the campaign began on October 15, 2026, and runs until January 15, 2027, with a total of Shs66 million set aside for prizes.

The bank says one qualifying customer will receive Shs22 million each month, with the money credited to an active Absa Business Account. Existing and prospective business clients can enter by opening an active business account and signing up for a Business Debit Card, or by spending at least Shs500,000 in a month through point-of-sale terminals or online. Each qualifying action earns an entry into the draw.

Absa officials framed the initiative as part of a wider push to encourage simpler and more secure payment methods for businesses. The bank said SMEs increasingly operate in a digital economy and should extend that shift to everyday spending and expense tracking. It also pointed to internal data showing rising use of its Business Debit Cards over the past year.

The report adds broader context on the role of SMEs in Uganda’s economy, citing government and central bank figures on the sector’s contribution to jobs and output as well as the growth of electronic payments. The campaign appears designed to build on that trend by giving firms a financial incentive to use card-based transactions more regularly.