Equity Bank Spread Wings With Services To Ugandans In South Africa

Habari Daily August 7, 2025

The Equity Bank Uganda team [in the white branded t-shirts], led by Damali Balungi, the International Banking Manager, and Allen Ritah Nanteza, the Diaspora and International Money Transfer (IMT) Officer, together with the Diaspora team

HABARI DAILY I Kampala, Uganda I Foreign workers abroad often face challenges related to job insecurity, low pay, poor working conditions, and lack of social protection.

Following Equity Bank’s intervention and entry into South Africa, these challenges are things of the past for Ugandans living and working in that country. These Ugandans now have greater opportunities to prosper, invest back home and realise value for their investments.

This has gone down on record as the very first time the East Africa financial giant has ventured into the South African market.

The Bank officially introduced its integrated financial services during the Confederation of Ugandans in South Africa event.

This was organised by the Ugandan Community in Johannesburg in partnership with the Uganda High Commission in South Africa.

At the event, Equity Bank Uganda presented financial solutions tailored for the diaspora, including savings and investment accounts, mortgages and cross border money transfer services.

“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,” said Damali Balungi, Equity Bank’s Manager for International Banking.

Speaking at the event, which was held recently, she said Equity Bank’s move was driven by the growing demand among Ugandans abroad to seamlessly connect with financial opportunities back home.

Said Balungi: “From mortgages to business financing, we want all Ugandans abroad to know that they can be part of their community’s growth story.”

According to Balungi, Equity Bank Uganda views South Africa as a key link for the diaspora and plans to introduce more financial services to simplify cross-border financial transaction.

“We will also offer access to secure and reliable banking services that will enable the South African community to enjoy safe baking,” she said.

She hailed COUSA, which is an annual event that brings together hundreds of Ugandans living in South Africa. Participants expressed excitement at the Bank’s presence, saying it would make it easier for them to invest and save back home.

Sara Nalumansi, a Ugandan entrepreneur based in Pretoria, welcomed the development. “For years, we have wanted a bank that understands both our home country Uganda and South Africa. Equity’s presence here today, gives us confidence that saving or even buying property back home will now be simpler and safer.”

Officials from the Uganda High Commission also lauded the bank’s decision to offer banking and saving opportunities to Ugandans in South Africa.

This, they said, is because the diaspora plays a critical role in remittances and national development.