Ugandans living and working in Kenya have been urged to move beyond sending money home and invest in structured investments that enable them to build sustainable wealth in Uganda while expanding their businesses across borders. This call was made during a Diaspora Investment Forum hosted by Equity Bank Uganda in partnership with the Uganda Network in Nairobi. The forum brought together Ugandan professionals, entrepreneurs, and investors based in Kenya to explore investment opportunities back home and financial solutions to support their ambitions.
The forum heard that Ugandans in the diaspora should recognise their potential to contribute more to the country’s economic development through investments, professional expertise, innovation, and international business networks. UGNET Chairperson Dr Phionah Atuhebwe said the diaspora community is a powerhouse of investment capital, professional expertise, innovation, and global networks building wealth across borders. She encouraged them to deliberately build sustainable assets rather than simply sending money home.
Equity Bank Uganda Executive Director Claver Serumaga said the bank’s diaspora banking proposition was designed to support Ugandans throughout their investment journeys rather than focusing solely on international money transfers. Serumaga emphasized that true diaspora banking goes beyond simple transactions; it is about building a solid financial partnership that supports long-term goals and secures the future back home.
Participants at the forum were encouraged to embrace disciplined investment practices as a foundation for sustainable wealth creation. Richard Byarugaba, Equity Group Managing Director for Asset Management, urged participants to develop consistent saving habits, diversify their investments, align financial decisions with long-term goals, and work with regulated financial institutions. He provided guidance on how to turn these ambitions into reality.
Equity Bank Uganda showcased financial solutions tailored to Ugandans living and working abroad, including diaspora savings and current accounts, investment and construction financing, insurance products, investment club accounts, and foreign exchange services. The bank also highlighted its inter-country banking capabilities, which allow customers to access funds, make transfers, and conduct banking transactions across Equity’s regional network.
Winfred Warui, Senior Manager for International Banking and Cross-Border Payments, said customers could access accounts in different markets where Equity operates while benefiting from competitive foreign exchange rates and international payment services. Warui noted that the bank’s solutions support customers in various investment activities, such as buying land, completing a house, investing in rental property, growing an agribusiness, or expanding a business venture.
The forum also highlighted the importance of trusted financial institutions and strong diplomatic relations in promoting diaspora investments and regional economic integration. Uganda’s High Commissioner to Kenya, Eunice Kigenyi, emphasized the importance of providing secure investment channels for Ugandans living abroad, saying the government had a responsibility to help protect their investments back home. Kenya’s Ambassador to Uganda, Ababu Namwamba, commended Equity Bank for connecting Ugandan and Kenyan business communities and helping diaspora members channel their earnings into productive investments in both countries.
Key points
- Equity Bank encourages Ugandans in Kenya to invest in Uganda and build cross-border wealth through structured investments.
