Ugandans in Nairobi urged to build assets back home

Ugandans living and working in Nairobi have been urged to turn their earnings into lasting assets in Uganda rather than relying only on sending money home.

The call was made at a Diaspora Investment Forum in Nairobi, organised by Equity Bank Uganda and the Uganda Network (UGNET). The forum brought together Ugandan professionals, entrepreneurs and investors based in Kenya to discuss investment opportunities in Uganda and how to finance them.

UGNET chair Dr Phionah Atuhebwe said Ugandans abroad bring capital, professional skills and international networks, not only remittances.

“Moving beyond simply sending money home to deliberately building sustainable assets is how we create long-term prosperity,” Dr Atuhebwe said.

Uganda’s High Commissioner to Kenya, Eunice Kigenyi, said the mission’s job was to give Ugandans abroad legal and secure routes for investing at home.

“Our role is to ensure that as you build your future here, you also build your home,” Kigenyi said.

She said the mission works to make sure diaspora investments are protected and properly authenticated.

Richard Byarugaba, Equity Group Managing Director, Asset Management, who gave the keynote address, advised participants to save consistently, spread their investments, match investments to their future goals and deal only with regulated institutions.

Equity Bank Uganda Executive Director Claver Serumaga said the bank wanted to support diaspora customers through the whole investment process, not only money transfers.

“Instead of only sending money home, let us focus on meaningful investments that build lasting assets,” Serumaga said.

The bank presented its diaspora products, which it listed as savings and current accounts, investment and construction financing, insurance, investment club accounts and foreign exchange services. It also pointed to a service it said allows customers to access their accounts and make transfers in the countries where Equity operates.

Winfred Warui, Equity’s Senior Manager, International Banking and Cross-Border Payments, said the services were aimed at Ugandans looking to buy land, complete houses, invest in rental property, grow agribusinesses or expand businesses.

Kenya’s Ambassador to Uganda, Ababu Namwamba, credited Equity with linking Ugandan and Kenyan business communities and helping diaspora members invest both at home and in their host countries.

Namwamba recalled a similar forum held recently in Kampala, where Kenyans living in Uganda were urged to move beyond remittances and invest for long-term wealth.

He said such engagements support regional integration by connecting people and businesses across borders.