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Ugandans in Diaspora to Get Training in Saving, Investing Back Home

At the ongoing Uganda North America Convention in Chicago, Equity Bank Uganda is set to be showcasing feasible investment and banking opportunities for diaspora customers back home.

The event has been running at the Hyatt Regency in Chicago, from August 29 and ends on September 1, 2019.

A delegation led by the Bank’s Executive Director, Anthony Kituuka attended the Trade and Investment Forum, the Networking Mixer and Miss Uganda North America Beauty Pageant from Thursday August 29 to Friday, August 30.

They will be sharing more information on diaspora savings, loans and money remittance facilities for Ugandans working globally but are interested in investing and banking in Uganda.

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Speaking about the event, Mr. Kituuka said, “It is now very convenient for Ugandans working in the diaspora to run bank accounts back home. As one of the banks handling large inflows of diaspora remittances, we recognize that our customers residing in foreign countries require convenience when they want to transact back home.”

The e-banking system allows Ugandans living in the diaspora to make money transfers through SWIFT services and thirteen money transfer solutions across the globe.

“We have taken appropriate security measures to ensure that account opening, transfer processes and management of bank accounts is seamless, “said Mr. Kituuka.

Equity Group has banking subsidiaries in Uganda, Kenya, Tanzania, South Sudan, DRC and Rwanda. Equity Group recently signed a preliminary agreement with Atlas Mara Limited that will see the Bank’s entry into Zambia and Mozambique. Most recently, it set up a Commercial Representative Office in Addis Ababa, Ethiopia.

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The World Bank and Bank of Uganda reports say Ugandan citizens in the diaspora have been sending home over a billion dollars over the last three years.  In 2017, Ugandans in the diaspora sent home US $1.4 billion though that figure fell slightly to US$ 1.312 billion in 2018.

The theme for this year’s convention is Cultural Diversity and Economic Empowerment: Building a Stronger Diaspora Community while Miss Uganda North America is running under Empowering Young Women to Lead.

 

 

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