Africa-Press – Uganda. Absa Bank Uganda, in partnership with Enterprise Uganda, has trained over 200 small and medium enterprise (SME) owners from the Tooro and Rwenzori sub-regions in entrepreneurship and financial literacy.
The intensive training covered business leadership, corporate governance, customer care, and financial management, all aimed at enhancing SME growth and ensuring long-term sustainability.
Stella Xerenzy Atim, the Head of Enterprise Banking at Absa Uganda, said SMEs play a crucial role in Uganda’s economy, contributing nearly 80 percent of the country’s GDP, which is why the bank prioritizes empowering them with knowledge and resources.
“SMEs are the backbone of Uganda’s economy, contributing close to 80 percent of our GDP. That is why as Absa, we take deliberate steps to train and equip them with the right skills that help them remain competitive, sustainable, and impactful to the communities they serve,” Atim said.
Lawrence Mwebesa, the Regional Enterprise Officer, emphasized the importance of documentation in business management, noting that poor record keeping remains a major challenge for many enterprises.
“We continue to advise SMEs to prioritize business documentation. Proper record keeping is a key step towards effective planning, accessing credit, and ensuring long-term growth,” Mwebesa said.
Participants expressed gratitude for the opportunity, saying the training was timely and relevant. Moses Bwambale, one of the trainees, said the sessions addressed the core challenges that hinder SME growth, particularly financial stability.
“This training was very impactful because it spoke to the real challenges we face every day as business owners. Financial growth and sustainability have been difficult to achieve, but with the knowledge we have gained, we are confident of doing better,” Bwambale noted.
Absa Bank Uganda and Enterprise Uganda say they will continue rolling out such programs across the country to empower more entrepreneurs with the skills needed to strengthen Uganda’s private sector.
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