Equity Bank eyes diaspora outreach at COUSA Convention

July 31, 2025 in Business, Companies by Editor

Equity Bank Uganda is set to participate in the upcoming annual convention of the Confederation of Ugandans in Southern Africa (COUSA), as part of a broader strategy to strengthen its connections with Ugandans living abroad. The three-day event, scheduled for August 1–3 in Johannesburg, is expected to draw hundreds of participants from across the region.

Organised around the theme “Economic Empowerment and Strategic Networking,” this year’s convention will bring together professionals, entrepreneurs, and policymakers from the Ugandan diaspora in Southern Africa. With remittances from Ugandans abroad accounting for $1.43 billion in 2023—nearly 3 percent of national GDP—diaspora engagement has become an increasingly strategic focus for financial institutions and policy makers alike.

Equity’s involvement in the event follows a series of similar initiatives aimed at building relationships with Ugandans abroad. In 2024, the bank held outreach sessions in the United Arab Emirates where it promoted diaspora-specific services. The Johannesburg event will serve as another platform to present a package of offerings, including remittance services, investment advisory, and real estate financing tailored for non-resident clients.

While these engagements may help expand the bank’s footprint beyond Uganda’s borders, they also reflect a broader trend of financial institutions seeking to channel diaspora capital into long-term development. Many Ugandans living abroad continue to support family members and invest in property or business ventures at home, often facing challenges in navigating financial systems remotely.

The COUSA convention, now in its third year, has become a gathering point for Ugandans in Southern Africa. It provides a space for discussing policy issues, cultural ties, and opportunities for economic collaboration. The presence of corporate actors like Equity Bank points to the growing recognition of the diaspora not just as a sentimental constituency, but as a market segment with significant developmental potential.

For Equity, which has positioned itself as a socially oriented lender with regional ambitions, such engagements are part of its ongoing attempt to broaden access to financial services and capture value from a demographic that remains strongly linked to the domestic economy. However, the success of such initiatives will likely depend on the bank’s ability to offer services that are not only accessible but also responsive to the specific needs of diaspora communities.