Equity Bank has urged Ugandans living abroad to move beyond using remittances solely for immediate family needs and instead channel part of their earnings into productive investments that can generate income and build long-term wealth.
The call was made during an X Space hosted by the bank on September 30, 2026, under the theme “From Remitting to Investing: Loan Opportunities for Ugandans in the Diaspora.”
Winfred Warui, Senior Manager for International Banking and Cross-Border Payments at Equity Bank, said the financial priorities of Ugandans living abroad are changing, with an increasing number looking beyond supporting families to building wealth and owning assets in Uganda.
“For several years, the focus has largely been on sending money home for immediate needs such as school fees, hospital bills and education expenses. But we are beginning to see more diaspora customers who want to build, invest and own assets in Uganda,” Warui said.
She encouraged Ugandans in the diaspora to consider investing in areas such as property, agribusiness, government securities and other interest-bearing investments, depending on their financial goals and capacity.
Bob Paul Lusembo, Segment Head of Micro Business at Equity Bank, said the key challenge for diaspora earners is finding a balance between meeting family obligations and building productive assets.
“Much of the money sent home is used for consumption and immediate needs. We want to help customers consider how some of their earnings can be used to build wealth and create productive assets,” Lusembo said.
He acknowledged that family responsibilities can make it difficult for Ugandans abroad to consistently save and invest, but urged them to set aside part of their income for assets capable of generating future returns.
Lusembo highlighted several business opportunities, including clothing, food processing and distribution, retail, transport and logistics, equipment hire, hospitality and specialised services.
He said agriculture also offers opportunities beyond primary farming, including production, storage, processing, packaging and distribution.
“The right entry point depends on what you can afford and where there is demand,” Lusembo said.
Property, he added, remains another investment option, with diaspora investors able to consider land, rental units, shops, offices and warehouses depending on their financial resources and market demand.
However, Lusembo cautioned Ugandans investing from abroad to conduct thorough due diligence, particularly when purchasing land remotely.
He also encouraged diaspora customers who already own businesses to consider financing productive assets rather than necessarily starting new ventures. Such assets could include vehicles, motorcycles, machinery and other equipment used to generate income.
Warui said financial literacy is critical in helping Ugandans in the diaspora make the transition from consumption to investment.
“It starts with information and financial literacy,” she said.
She said Equity Bank provides relationship management, wealth and investment services that can help diaspora customers identify investment opportunities and make decisions aligned with their financial goals.
The bank’s representatives said the broader objective is to encourage a shift from short-term consumption towards sustainable wealth creation.
“The mindset we are encouraging is a shift from consumption to investment, from investment to wealth creation, and from short-term gains to strategic assets and a lasting legacy,” Lusembo said.
For Ugandans who have spent years working abroad, he said, such a legacy could include returning home to an established business, income-generating property or other assets capable of supporting their families for generations.
Warui added that investment opportunities could extend beyond Uganda to other markets across the East African region, depending on individual circumstances, financial goals and investment objectives.
