Equity Bank courts Ugandans in South Africa with tailored financial services
Damali Balungi, Equity Bank’s Manager for International Banking, said the initiative responds to increasing demand from the diaspora for accessible and trustworthy financial solutions back home
JOHANNESBURG, August 9, 2025 – One of Uganda’s top commercial banks, Equity Bank Uganda has launched a suite of financial services specifically designed for Ugandans living in South Africa, focusing on diaspora savings, investments, and seamless cross-border transactions.
The announcement was made early this month during the annual meeting of the Confederation of Ugandans in South Africa [COUSA], an event hosted by the Ugandan community in Johannesburg in collaboration with the Uganda High Commission.
Damali Balungi, Equity Bank’s Manager for International Banking, said the initiative responds to increasing demand from the diaspora for accessible and trustworthy financial solutions 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 added that the bank sees South Africa as a key hub for engaging with the Ugandan diaspora and intends to scale up services to simplify cross-border banking.
COUSA, which unites hundreds of Ugandans living and working in South Africa, welcomed Equity Bank’s outreach.
Sara Nalumansi, an entrepreneur based in Pretoria, said the initiative would help bridge the financial gap between Uganda and South Africa:
“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 reiterated the importance of the Diaspora to Uganda’s economy, noting that remittances and investments from abroad play a significant role in national development.
They added that Equity Bank’s involvement could deepen economic ties between Uganda and its citizens living overseas.
https://thecooperator.news/equity-bank-empowers-ugandas-top-2024-uace-students/
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