‘Equity is the new bridge between Ugandan and Kenyan business communities’

What the report says

The Independent Uganda reports that Ugandans living and working in Nairobi were urged to move beyond sending remittances and instead use structured investments to build wealth in Uganda while expanding their businesses in Kenya. The message came at a Diaspora Investment Forum in Nairobi organized by Equity Bank Uganda in partnership with the Uganda Network (UGNET), which drew Ugandan professionals, entrepreneurs and investors based in Kenya.

According to the report, speakers framed the diaspora as a source of capital, skills and networks, not just cash transfers. UGNET chair Dr Phionah Atuhebwe said long-term prosperity depends on deliberately building assets, while Equity Bank Uganda executive director Claver Serumaga said the bank’s diaspora offer is meant to support customers through the wider investment process rather than only handling transfers. Equity Group Asset Management director Richard Byarugaba also encouraged disciplined saving, diversification and investing through regulated institutions.

The forum highlighted Equity Bank Uganda’s products for diaspora customers, including savings and current accounts, investment and construction financing, insurance, investment club accounts, foreign exchange services and cross-border banking access across the Equity network. The report said the bank can help customers move money across markets and access accounts in different countries where it operates.

Uganda’s High Commissioner to Kenya, Eunice Kigenyi, and Kenya’s Ambassador to Uganda, Ababu Namwamba, both stressed secure and trusted channels for diaspora investment. Namwamba said such initiatives can strengthen regional integration by linking people, businesses and opportunities across Uganda and Kenya.