For years, remittances from Ugandans living abroad have supported families with essential needs such as school fees and medical bills. However, Equity Bank is now urging them to invest part of their remittances in productive assets and businesses that can generate income. During an X Space discussion on September 30, 2026, the bank emphasized the importance of shifting from consumption to investment.
Winfred Warui, Senior Manager for International Banking and Cross-Border Payments at Equity Bank, noted that the financial goals of Ugandans abroad are evolving. More people are looking beyond supporting families to building wealth. Warui stated that Ugandans can invest in property, agribusiness, government securities, and other interest-bearing investments depending on their financial objectives.
Bob Paul Lusembo, Segment Head of Micro Business at Equity, highlighted the challenge of balancing family support with building productive assets. He encouraged diaspora earners to allocate part of their income towards assets that can generate future income. Lusembo suggested opportunities in sectors such as clothing, food processing, retail, transport, logistics, equipment hire, hospitality, and specialized services.
Agriculture presents opportunities beyond farming, including production, storage, processing, packaging, and distribution. Lusembo emphasized that the right entry point depends on affordability and market demand. Property remains another option, with investors considering land, rental units, shops, offices, and warehouses based on resources and market demand.
However, Lusembo cautioned Ugandans to undertake rigorous due diligence, especially when purchasing land remotely. He also pointed to financing options for productive assets for existing businesses rather than starting new ventures. Warui stressed that financial literacy is critical in helping diaspora customers shift from consumption to investment.
Equity Bank offers relationship management, wealth, and investment services to guide customers living abroad in investing according to their financial goals. The bank aims to encourage a shift in mindset from immediate consumption to sustainable wealth creation. Lusembo stated that the ultimate goal is to promote strategic assets and a lasting legacy for Ugandans.
For Ugandans who have spent years abroad, this legacy could mean returning home to an established business, income-generating property, or other assets that can benefit their families for generations. Warui mentioned that opportunities could extend beyond Uganda to investments across the wider East African region, depending on individual circumstances and objectives.
Key points
- Equity Bank encourages Ugandans in diaspora to invest remittances in productive assets and businesses.
- The bank offers relationship management, wealth, and investment services to guide customers.
- Financial literacy is critical in helping diaspora customers shift from consumption to investment.
