TURN DOLLARS INTO EMPIRES! Equity Bank, BoU Show Diaspora How to Grow Wealth in Uganda at Equity Webinar
Gift Shoko, the Managing Director of Equity Bank and Professor Augustus Nuwagaba, the deputy Governor Bank of Uganda
Our Reporter
Equity Bank Uganda on Saturday convened its 2026 Diaspora Webinar under the theme “From Remittances to Investment Capital: Unlocking Diaspora Wealth for Uganda’s Economic Transformation.” The virtual engagement brought together Ugandans living across Europe, North America, the Middle East, Asia, Australia and East Africa, alongside senior government and central bank officials.
Opening the webinar, Gift Shoko, Managing Director of Equity Bank Uganda, thanked diaspora customers for their continued support through 2025 and into 2026. He reiterated that the platform was designed both to appreciate customers and to listen to their feedback on how the Bank can serve them better.
“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.
Shoko highlighted Equity’s growing footprint in Uganda, noting that the Bank now serves over 2.1 million customers through 50 branches, nearly 10,000 agents and thousands of merchants. He also outlined the Group’s broader Africa Recovery and Resilience Plan, which prioritises agriculture, manufacturing, trade, MSMEs, social impact and technology as pathways to continental self-reliance.
Delivering the keynote address, Professor Augustus Nuwagaba, Deputy Governor of the Bank of Uganda, called on Ugandans abroad to take greater ownership of the country’s economic story by converting 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,” Professor Nuwagaba urged the diaspora to shape its own narrative and highlight its contribution to national development.
He announced that the Bank of Uganda is working on initiatives to expand diaspora investment options, including the development of a Diaspora Bond that would offer secure investment channels while supporting national development projects. He also pointed to opportunities in infrastructure financing, particularly energy generation, and encouraged collective diaspora investment.
Professor Nuwagaba advised diaspora investors to focus on sectors they understand and that do not require constant physical supervision, citing some forms of real estate, FinTech, digital infrastructure and payment systems as practical options. He further stressed the importance of continuous learning, personal capability building and operating in a “blue ocean” of unique value creation.
“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,” Professor Nuwagaba concluded.
Joseph Enyimu, Commissioner for Economic Development Policy and Research at the Ministry of Finance, Planning and Economic Development, outlined Uganda’s ambition to build a US$500 billion economy anchored on innovation, industrialisation and a knowledge-based economy.
He highlighted priority sectors for diaspora investment under the ATMS framework (Agro-industry, Tourism, Minerals, Oil & Gas, and Science, Technology, Innovation, ICT and Creatives). Enyimu encouraged Ugandans abroad to move beyond household support and channel resources into businesses, SMEs, agriculture, real estate, government securities and collective investment schemes.
He also noted government reforms aimed at making property ownership easier through digital land services and improved land administration, and urged diaspora communities to organise into structured investment groups to access incentives and licences.
Winfred Wanjiru, Senior Manager for International Banking and Cross-Border Payments, presented Equity Bank’s suite of diaspora solutions, including digital banking platforms, Visa debit cards, property and construction financing, equity release facilities, and a 24/7 contact centre supported by dedicated Diaspora Relationship Managers. She also encouraged Ugandans abroad to obtain a National ID as a key requirement for accessing financial and property services in Uganda.
Tim Mugerwa of the Uganda Nurses and Midwives Association UK (UNMA-UK) shared how the association’s partnership with Equity Bank has evolved from basic retail banking into broader financial and investment support.
He highlighted plans to explore wealth management products such as Treasury Bills, Government Bonds and Unit Trusts, and pointed to a joint social impact initiative supporting the establishment of a Mental Health Rehabilitation Unit in partnership with the Uganda Police Force.
In his closing remarks, Gift Shoko reaffirmed Equity Bank’s commitment to remaining a trusted partner for the diaspora. He noted progress since the previous webinar in March 2025, including improved access to National ID services through collaboration with NIRA, a reduction in remittance costs from around 13% to about 9%, expanded financial inclusion in the Middle East, and strengthened confidence among diaspora customers.
Equity Bank Uganda reiterated that it continues to serve as a bridge between Ugandans abroad and investment opportunities at home, offering secure remittance channels, tailored financing and dedicated relationship support.
The Bank invited participants with further questions or assistance from the bank to write to Ugandans.Abroad@equitybank.co.ug
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