Equity Bank Uganda scoops continental award

Equity Bank Uganda has been named Corporate Business of the Year at the African Business Chamber (AfBC) African Business Awards 2026, a recognition the bank says validates its strategy of positioning itself as the primary financial gateway for Uganda’s diaspora community.

The award was presented to the bank at a gala dinner held at the Royal Lancaster London recently, attended by more than 300 policymakers, institutional investors, and business leaders from across Africa and the United Kingdom.

The African Business Chamber, which describes itself as the UK’s leading organisation for strengthening commercial ties between Africa, the United Kingdom, and the global African diaspora, said the award recognises Equity Bank Uganda’s contribution to financial inclusion, diaspora banking, cross-border trade, and investment facilitation across the continent.

Damalie Balungi, the bank’s manager of Diaspora and International Banking, said the award reflects a deliberate focus on developing products that keep Ugandans abroad financially connected to opportunities at home.

“The diaspora community remains one of Uganda’s most important development partners,” Balungi said.

“Beyond remittances, Ugandans living abroad are investing in businesses, real estate, education, agriculture, and long-term wealth creation back home. At Equity Bank Uganda, our role is to provide the financial solutions, accessibility, and support they need to achieve these goals regardless of where they live.”

The bank offers a suite of diaspora-focused products including a Diaspora Savings Account with no minimum balance requirements and global Visa debit card access, equity release and mortgage solutions that allow customers to borrow up to 70 per cent of the appraised value of the property in Uganda, and direct access to government securities including Treasury Bills and Treasury Bonds.

Winfred Warui, the senior manager for International Banking and Cross-Border Payments, said the bank has also invested in cross-border payment infrastructure to make it easier for customers to move money between Uganda and international markets.

“We continue to see increasing interest from Ugandans in the diaspora who want to invest, build businesses, acquire property, and participate in opportunities back home,” Warui said.

“Our focus is to remove barriers by providing seamless international banking solutions, efficient remittance services, access to investment opportunities, and personalised support.”

Diaspora remittances remain a significant source of foreign exchange inflows for Uganda, supporting household incomes and enterprise development across the country. The AfBC African Business Awards are held annually to recognise organisations and individuals the chamber says are driving sustainable economic growth and creating impact across the African continent.

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