Equity bank officially launched its integrated banking services tailored specifically for Ugandans living abroad, especially those in South Africa.
This marks the financial institution’s first entry into the South African market, aimed at facilitating seamless investments, savings and remittance flows for Ugandans working and residing in the country.
The announcement was made during the Convention of Ugandans in Southern Africa (COUSA) annual event held in Johannesburg, an occasion which was attended by hundreds of Ugandans eager for financial solutions that connect them to their homeland.
Equity Bank Uganda presented a range of services including savings and investment accounts, mortgages, and secure cross-border money transfer options designed with the diaspora’s needs in mind.
While speaking at the ceremony, Damali Balungi, Equity bank’s manager for International Banking, explained the motivation behind the expansion: “Our mission here 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. From mortgages to business financing, we want all Ugandans abroad to know that they can be part of their community’s growth story,” she said.
Balungi added that South Africa has become a vital link for the Ugandan diaspora, noting plans to introduce even more financial products that will make cross-border transactions easier and more secure.
She emphasized the importance of providing reliable financial services not just for Ugandans abroad, but also for the South African community, which can benefit from Equity launches banking services for Ugandans in South Africa
