Equity Bank pitches financial services to Ugandans in South Africa

August 8, 2025 in Business, Companies, Financial Services by Editor

Equity Bank Uganda has unveiled a range of financial services for Ugandans living in South Africa, targeting diaspora savings, investment, and cross-border transactions.

The announcement was made at the annual meeting of the Confederation of Ugandans in South Africa (COUSA), organised by the Ugandan community in Johannesburg in partnership with the Uganda High Commission.

Equity Bank’s Manager for International Banking, Damali Balungi, said the initiative responds to growing demand from the diaspora for accessible banking and investment options back home.

“Our mission is to give Ugandans in South Africa access to secure and reliable banking services that meet their needs but also enable them to invest back home,” she said.

Balungi noted that the bank views South Africa as a strategic link for diaspora engagement and will expand services to ease cross-border transactions.

COUSA brings together hundreds of Ugandans living and working in South Africa. Many attendees welcomed the bank’s presence.

Pretoria-based entrepreneur Sara Nalumansi said the move could help bridge the gap between home and host country: “For years, we have wanted a bank that understands both Uganda and South Africa. This gives us confidence that saving or buying property back home will now be simpler and safer.”

Officials from the Uganda High Commission said the diaspora remains a vital source of remittances and investment, and the bank’s engagement could further strengthen economic ties between Uganda and its citizens abroad.