Equity bank targets diaspora billions with new investment webinar

What the report says

Equity Bank Uganda is using its latest diaspora-focused webinar to encourage Ugandans living abroad to do more than send money home for day-to-day needs. According to The Observer, the bank will hold the next session in its Equity Diaspora Webinar Series on Saturday, August 1, with the goal of showing participants how remittances can also be channeled into businesses, property and other longer-term investments in Uganda.

The article cites official figures showing that Uganda’s diaspora sent home a record US$2.5 billion last year, an amount the bank sees as an important source of capital for the country’s economy. Equity Bank says it wants to help diaspora members save, invest and monitor funds from abroad, while also offering guidance and digital banking tools that make it easier to direct money into productive sectors such as commercial agriculture, manufacturing and real estate.

Prof. Augustus Nuwagaba, Deputy Governor of the Bank of Uganda, is scheduled to lead the virtual discussion. His participation is presented as a sign of the policy interest around diaspora capital and its role in economic growth. The bank has also been positioning itself more broadly as an investment partner rather than only a remittance channel.

The Observer also notes that Equity Bank’s cross-border and diaspora banking efforts have recently drawn industry recognition, including a business award earlier this year. More broadly, the push reflects a growing effort among financial institutions to turn remittances into sustainable investment flows rather than short-term household support.