Bank of Uganda deputy governor Professor Augustus Nuwagaba has urged Ugandans abroad to convert remittances into strategic investments and “take ownership of Uganda’s growth journey.”
He said the central bank is developing a Diaspora Bond to offer secure investment channels alongside opportunities in energy infrastructure. He advised investors to favour sectors requiring less physical supervision — real estate, FinTech, digital infrastructure and payment systems.
Nuwagaba was speaking during Equity bank’s recent 2026 Diaspora Webinar, which drew Ugandans from Europe, North America, the Middle East, Asia, Australia and East Africa, along with senior government and central bank officials, under the theme “From Remittances to Investment Capital: Unlocking Diaspora Wealth for Uganda’s Economic Transformation.”
Equity Bank managing director Gift Shoko thanked diaspora customers for their support and said the bank’s goal was to help them “invest in Uganda and contribute to the country’s long-term transformation.”
He noted that Equity now serves over 2.1 million customers through 50 branches, nearly 10,000 agents and thousands of merchants. Joseph Enyimu, the commissioner for Economic Development Policy and Research at the ministry of Finance, outlined government ambitions for a $500 billion economy built on innovation and industrialisation.
He pointed diaspora investors toward the ATMS priority sectors — agro-industry, tourism, minerals, oil and gas, and science, technology and ICT — and encouraged them to organise into structured investment groups to access incentives.
Winfred Wanjiru, Equity’s senior manager for International Banking and Cross-Border Payments, presented the bank’s diaspora offerings, including digital banking, Visa debit cards, property and construction financing, and a 24/7 support centre with dedicated relationship managers.
She urged Ugandans abroad to secure a National ID, now a key requirement for accessing financial and property services. Tim Mugerwa of the Uganda Nurses and Midwives Association UK described the group’s evolving partnership with Equity, including plans around treasury bills, government bonds and unit trusts, and a joint initiative to fund a Mental Health Rehabilitation Unit with the Uganda Police
