BoU’s Prof. Nuwagaba Returns to Spotlight Diaspora Wealth as Remittances hit UGX 9.3 trillion

July 31, 2026 in Companies, Finance, Financial Services, Investment by Editor

Deputy Governor to headline Equity Bank’s latest diaspora investment webinar as attention shifts from consumption to wealth creation.

 

Bank of Uganda Deputy Governor Prof. Augustus Nuwagaba will return to the national conversation on diaspora investment this weekend, leading discussions on how Uganda can transform record remittance inflows into productive capital for economic growth.

Nuwagaba will headline Equity Bank Uganda’s latest Diaspora Investment Webinar on Saturday, August 1, marking his second appearance in the lender’s virtual engagement series that has become an increasingly influential platform for connecting Ugandans abroad with investment opportunities back home.

His second appearance in Equity Bank Uganda’s Diaspora Investment Webinar series comes as Uganda receives record remittance inflows, with citizens abroad sending home USD2.5 billion (about UGX9.3 trillion) in 2025—equivalent to 3.8pc of GDP and making diaspora capital one of the country’s largest sources of foreign exchange.

By bringing back the central bank’s deputy governor, Equity Bank appears to be signalling that the conversation has matured beyond encouraging money transfers to addressing how diaspora savings can finance businesses, commercial agriculture, manufacturing, real estate and other productive sectors capable of generating jobs and expanding the economy.

Nuwagaba is expected to share the Bank of Uganda’s perspective on the growing role of diaspora investment in Uganda’s economic transformation, while outlining the policy environment supporting greater participation by Ugandans living abroad.

For years, remittances have largely financed education, healthcare, housing and daily household consumption. While those social benefits remain significant, policymakers and financial institutions increasingly view the billions flowing into the country annually as patient capital that could unlock entrepreneurship and accelerate industrialisation if channelled into long-term investments.

Equity Bank says the webinar is designed to equip Ugandans abroad with practical investment knowledge, expert guidance and financial solutions that enable them to invest confidently from wherever they live.

The lender is also positioning itself beyond its traditional role of facilitating money transfers by offering investment advisory services, digital banking platforms and tailored financial products that allow diaspora customers to save, invest and manage assets remotely.

The strategy reflects a broader evolution within Uganda’s banking industry as lenders compete for a share of the growing diaspora market, whose financial contribution has steadily risen alongside increased migration and improved digital payment channels.

The participation of the central bank’s deputy governor is expected to reinforce confidence in Uganda’s macroeconomic outlook while highlighting how sound monetary policy, financial innovation and secure digital banking can work together to attract more diaspora capital into productive sectors.

For investors abroad, Nuwagaba’s participation also sends an important policy signal. As the official responsible for monetary stability alongside the Governor, his presence reinforces confidence in Uganda’s macroeconomic outlook and the financial system that underpins long-term investment decisions.

The webinar also builds on Equity Bank Uganda’s growing profile in diaspora banking. Earlier this year, the bank was recognised as Corporate Business of the Year at the African Business Chamber African Business Awards in London for its contribution to financial inclusion, cross-border banking, trade facilitation and diaspora investment.

With remittances now rivalling some of Uganda’s largest export earners, the national conversation is increasingly shifting from how much money Ugandans abroad send home to how effectively those billions can finance enterprises, create jobs and build lasting wealth. Nuwagaba’s return to the webinar reflects that broader shift—from remittances as family support to diaspora capital as an engine of economic transformation.