KAMPALA – Equity Bank Uganda has called on Ugandans living abroad to move beyond sending money home for consumption and instead channel remittances into productive investments that can drive the country’s economic transformation.
The call was made during the bank’s 2026 Diaspora Webinar, held under the theme, “From Remittances to Investment Capital: Unlocking Diaspora Wealth for Uganda’s Economic Transformation.” The virtual event attracted Ugandans from Europe, North America, the Middle East, Asia, Australia and East Africa, alongside senior officials from the Government of Uganda and the Bank of Uganda.
Opening the webinar, Equity Bank Uganda Managing Director Gift Shoko thanked diaspora customers for their continued support and reaffirmed the bank’s commitment to helping them invest back home.
“As Equity, we are a caring and listening partner. This webinar is one of the platforms we have created to engage Ugandans in the diaspora wherever they are. Our goal is to support you not only to send money home, but to invest in Uganda and contribute to the country’s long-term transformation,” Shoko said.
He revealed that Equity Bank Uganda now serves more than 2.1 million customers through a network of 50 branches, nearly 10,000 banking agents, and thousands of merchants across the country.
Shoko also highlighted Equity Group’s Africa Recovery and Resilience Plan, which prioritizes investment in agriculture, manufacturing, trade, micro, small and medium enterprises (MSMEs), technology and social impact initiatives to accelerate economic growth across the continent.
Delivering the keynote address, Bank of Uganda Deputy Governor Prof. Augustus Nuwagaba urged Ugandans abroad to play a greater role in shaping the country’s economic future by transforming remittances into strategic investments.
Quoting the African proverb, “Until the lion learns how to tell its story, the story of the hunt will always glorify the hunter,” Prof. Nuwagaba encouraged the diaspora to take ownership of Uganda’s development story and showcase its contribution to national progress.
He disclosed that the Bank of Uganda is working on new initiatives to expand investment opportunities for Ugandans abroad, including the development of a Diaspora Bond, which would provide a secure investment vehicle while financing national development projects.
The Deputy Governor encouraged diaspora investors to focus on sectors they understand and that do not require constant physical supervision, including selected real estate ventures, financial technology, digital infrastructure and payment systems.
“If you wash your hands clean, you eat with kings. I call on the diaspora to take ownership of Uganda’s growth journey and help shape a stronger economic future,” he said.
The Commissioner for Economic Development Policy and Research at the Ministry of Finance, Planning and Economic Development, Joseph Enyimu, outlined Uganda’s ambition of growing the economy to US$500 billion, driven by industrialization, innovation and a knowledge-based economy.
He identified investment opportunities under the government’s ATMS framework, covering Agro-industry, Tourism, Minerals, Oil and Gas, as well as Science, Technology, Innovation, ICT and the Creative Industries.
Enyimu encouraged Ugandans abroad to move beyond supporting families through remittances and instead invest in businesses, agriculture, real estate, government securities, small and medium enterprises and collective investment schemes.
He also highlighted government reforms aimed at simplifying land ownership through digital land services and improved land administration, urging diaspora communities to form structured investment groups to access incentives and business opportunities.
Equity Bank’s Senior Manager for International Banking and Cross-Border Payments, Winfred Wanjiru, showcased a range of financial solutions designed specifically for Ugandans abroad.
These include digital banking platforms, Visa debit cards, property and construction financing, equity release facilities, dedicated Diaspora Relationship Managers and a 24-hour customer support centre. She also encouraged Ugandans living abroad to acquire National Identification Cards to ease access to financial and property services in Uganda.
During the webinar, Tim Mugerwa of the Uganda Nurses and Midwives Association UK (UNMA-UK) shared how the association’s partnership with Equity Bank has expanded beyond retail banking to include wealth creation initiatives.
He said the association is exploring investment products such as Treasury Bills, Government Bonds and Unit Trusts while partnering with the Uganda Police Force to establish a Mental Health Rehabilitation Unit.
Closing the webinar, Shoko reaffirmed Equity Bank’s commitment to supporting Ugandans abroad through secure remittance services, tailored financing solutions and dedicated customer support.
He noted that since the previous diaspora webinar in March 2025, the bank has worked with the National Identification and Registration Authority (NIRA) to improve access to National ID services, reduced remittance costs from about 13 percent to approximately 9 percent, expanded financial inclusion in the Middle East and strengthened confidence among diaspora customers.
The bank said it remains committed to serving as a bridge between Ugandans abroad and investment opportunities at home, helping transform remittances into long-term wealth and national economic development.
