Absa honours top dealers in asset finance push

Absa Bank Uganda has recognised 13 outstanding dealer partners under its inaugural Titan Awards, an initiative aimed at strengthening partnerships that expand access to vehicle and asset financing in Uganda.

The awards, which the bank says will be held annually, are designed to support businesses and individuals to invest in productive assets such as vehicles, machinery and equipment that drive economic growth.

Speaking at the awards ceremony, Absa Bank Uganda managing director David Wandera said the recognition reflects the critical role dealer partnerships play in extending financing to customers.

“Providing financing to individuals and businesses investing in productive assets is only possible because of the strong partnerships we have built with our dealer network,” Wandera said.

“Behind every vehicle, tractor, bus or piece of construction equipment financed by Absa is a partnership between the bank and our dealers. The Titan Awards recognise partners whose commitment to excellence, customer service and collaboration has enabled more Ugandans to access financing to invest and grow their businesses.”

The development comes at a time when demand for asset financing is growing, driven by increased investment in key sectors of the economy.

According to the Bank of Uganda’s June 2026 State of the Economy Report, private sector credit continues to expand, with housing and real estate accounting for 22 per cent, trade 14 per cent, agriculture 12 per cent, manufacturing 11 per cent, and transport and communication five per cent.

These sectors increasingly depend on financing to acquire vehicles, machinery and other equipment needed to improve productivity and competitiveness.

The Titan Awards recognise performance across Absa’s asset finance ecosystem, including passenger and commercial vehicles, heavy equipment, agricultural machinery and specialised business assets, as well as environmental sustainability initiatives.

Winstone Katushabe, commissioner for transport regulation and safety at the Ministry of Works and Transport, who was the guest of honour, said access to asset financing is key to Uganda’s economic transformation.

“A productive asset should not remain permanently beyond the reach of a farmer, an entrepreneur, a school or a growing business simply because they cannot pay its full cost at once,” Katushabe said.

“It is encouraging to see banks partnering with dealers and manufacturers to make these assets more accessible. These investments increase productivity, create jobs and enhance the competitiveness of Uganda’s economy.”

Among the award winners, Motor Center was recognised as the top passenger vehicle dealer for brand-new units, while Mighty Rides emerged best in the used vehicle category.

Double Q and Tata Uganda were recognised for their role in commercial vehicles, particularly trucks and buses, while Pearltrac Uganda Limited and Afgri were honoured for their contribution to the construction and agriculture sectors.

Achilles Rental Uganda Limited won in the specialised asset category, while Al-Mamoun was named emerging dealer of the year.

Motor Care received the award for highest transaction volume, Pacific Diagnostic for highest transaction value, and Double Q was also recognised for the fastest deal turnaround.

Kiira Motors Corporation was named environmental champion of the year for promoting sustainable mobility solutions.

Absa’s retail and business banking director Moses Rutahigwa said the bank will continue to roll out financing solutions tailored to customer needs.

“Our promise is to ensure financing is available when and where it is needed,” Rutahigwa said.

He cited the bank’s partnership with Tata Uganda, which enables schools to acquire modern buses through asset financing, as one of the initiatives aimed at expanding access.

The Titan Awards, according to the bank, will continue to recognise dealer partners whose innovation and collaboration are helping to widen access to asset finance across the country.

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