Equity Bank Uganda has taken a step to meet the growing demand from Ugandans living and working in the United Arab Emirates (UAE) by launching a strategic engagement in Abu Dhabi and Dubai. The initiative aims to provide specialized financial, banking, and investment services to the Ugandan diaspora, addressing their unique financial needs while strengthening ties with the community.
As part of the “Equity Goes to UAE” initiative, the bank’s representatives will meet with Ugandans in the UAE to offer tailored solutions such as diaspora bank accounts, investment advice, and loan assistance. This visit is a key component of the bank’s participation in International Customer Service Month 2024, under the theme “Above & Beyond.”
Winfred Wanjiru, Head of International Banking at Equity Bank Uganda, highlighted the institution’s commitment to supporting Ugandans abroad. “Equity Bank Uganda has consistently provided seamless banking, financial, and investment solutions for the Ugandan diaspora. Our services enable them to send money home, manage their finances remotely, and invest in Uganda,” Wanjiru said.
The UAE has become a top destination for Ugandan workers since 2014, and by 2023, Ugandans in the UAE were sending home approximately $300 million annually, according to the World Bank. This represented nearly a quarter of Uganda’s total remittances, which reached $1.43 billion that year. These remittances play a vital role in improving the livelihoods of families back home, funding essential needs such as education, healthcare, housing, and land purchases.
Wanjiru emphasized the bank’s commitment to meeting the needs of this key community. “With this visit, we aim to deepen our engagement with Ugandans in the UAE by providing banking solutions designed specifically for them. Equity’s vision is to champion socio-economic prosperity across Africa, wherever our people are based,” she added.
As part of the visit, Equity Bank Uganda’s International Banking and Cross-Border Payments team will participate in the Uganda Independence Day celebrations in Abu Dhabi, the launch of the Uganda Business Centre, and the Uganda-UAE Business Convention. They will also visit employee camps of major companies that employ large numbers of Ugandans.
This initiative not only enhances the bank’s visibility in the UAE but also strengthens the bank’s relationship with Ugandans and other residents who have faced challenges accessing reliable financial services. Equity Bank aims to provide solutions that cater to the needs of migrant workers, businesspeople, and professionals alike.
Anthony Kituuka, Managing Director of Equity Bank Uganda, underscored the strategic importance of the UAE for Ugandans. “The UAE is a vital hub for Ugandan migrant workers and business professionals. With Uganda Airlines flying to Dubai four times a week, our goal is to make banking more accessible to our clients. This visit is an extension of our ongoing commitment to providing convenient financial services to Ugandans and expanding our presence in the Middle East,” Kituuka said.
In addition to providing banking services such as opening diaspora accounts and offering investment advice, the bank will also focus on financial literacy and fraud prevention. This is especially important as Ugandans in the UAE have been targeted by financial scams in recent years.
Equity Bank’s services during the visit will include loan consultations, savings promotions, processing VISA card applications, and offering secure banking solutions to ensure the financial safety of the Ugandan diaspora.
This engagement is expected to build long-lasting relationships with the Ugandan community in the UAE while contributing to the socio-economic development of both Uganda and its diaspora population.
