Equity Group has received shareholder approval to establish a Representative Office in the United Arab Emirates (UAE), marking a major milestone in its strategic expansion beyond the African continent.
The green light—granted during the Group’s 21st Annual General Meeting on 25th June 2025—paves the way for regulatory approvals from the Central Bank of Kenya and UAE authorities. Once cleared, the office is expected to unlock vast business, trade, and investment opportunities by connecting East and Central Africa with the UAE, Middle East, India, Central Asia, and South Asia.
For the thousands of Equity Bank Uganda customers living and working in Dubai, the wider UAE, and Saudi Arabia, this development promises a long-awaited transformation in access to specialised financial services. The new office is designed to serve as a hub for diaspora banking, trade facilitation, personalised customer service, and capital raising support.
The initiative also builds on Equity Bank Uganda’s consistent engagement with its diaspora community. In recent years, Equity’s service and leadership teams have made targeted visits to Dubai and Saudi Arabia, offering bespoke banking solutions to meet the unique needs of East African expatriates. These efforts, focusing on remittances, investment advice, and tailored financial products, were warmly received by the diaspora and laid the groundwork for this expansion.
For many Ugandans in the Gulf region—whether professionals, entrepreneurs, or labourers—banking has remained a challenge, with limited access to direct financial support. They have long relied on informal remittance networks or distant banking relationships that often result in delays and high costs. The new Representative Office, expected to be operational in early 2026, is set to change that.
Once launched, the Dubai office will provide on-site support for critical financial services such as letters of credit and supply-chain finance, minimising delays in settlement processes. It will also enhance mobile money and remittance services for the millions of East Africans residing in the region—bringing Equity closer to fulfilling its vision of becoming Africa’s “one-stop financial services platform,” as championed by Group Managing Director and CEO, Dr. James Mwangi.
Beyond serving the diaspora, the UAE office will also act as a bridge for Gulf-based investors seeking entry into East Africa’s fast-growing sectors, including agribusiness, infrastructure, and energy—areas where many Ugandan expatriates are already expressing keen interest.
This move underscores Equity Group’s long-term ambition to foster inclusive economic participation by bridging borders, expanding financial access, and building wealth across continents.
