Equity Bank wins three diaspora bank awards

Equity Bank Uganda has won three awards at the AIDO Network Pan-African Impact Awards, strengthening its standing as a regional leader in diaspora banking and cross-border remittances.

The bank took home the awards for Best Diaspora Bank in Cross-Border Remittances, Best Diaspora Banking Solutions, and Best Bank for Diaspora Investments at the ceremony held on Saturday, May 23, at Speke Resort Munyonyo, during Africa Liberation Week celebrations.

The AIDO Network is a global Pan-African organisation representing more than 70,000 members focused on historical justice, repatriation, and the socioeconomic reintegration of Africans in the diaspora, including Afro-Caribbean communities reconnecting with their ancestral roots.

Paul Jones Eganda, president of the AIDO Network and chairman of the Global Af- rican Diaspora Kingdoms, said the result reflected a clear preference among diaspora members.

“Over the last few months, a massive amount of work has gone into this, culminating in over 70,000 members of the global African diaspora casting their votes online. Equity Bank consistently stood out as the favourite diaspora bank for global Africa,” he said.

Winfred Warui, Senior Manager for International Banking and Cross-Border Payments at Equity Bank Uganda, said the awards validate years of strategic investment in financial infrastructure for Ugandans and Africans living abroad.

The bank has repositioned its diaspora banking model away from consumption-fo- cused remittances toward long-term wealth creation. It offers fixed deposit accounts and high-yield savings products that allow diaspora clients to build assets and generate returns while investing in Uganda.

A key product, Equity Release, allows diaspora customers to unlock up to 70 per cent of the appraised value of their Ugandan properties as liquid capital, which can then be channelled into real estate, land acquisition, or business expansion.

The bank has also opened access to government securities, including treasury bills and bonds, giving diaspora investors stable, long-term options.

“We want to ensure that when our diaspora community returns home, they don’t come back to empty bank accounts. They should return to solid investments, ready homes and commercial footprints,” Warui said.

To address the long-standing prob- lem of funds being mismanaged by intermediaries or relatives, the bank has built out a digital banking platform that allows clients abroad to manage accounts, monitor projects, pay suppliers, and run businesses remotely.

A global Visa debit card enables customers to access Ugandan funds from anywhere in the world, while a dedicated business platform allows cross-border SMEs to repatriate profits seamlessly.

The bank also operates a diaspora relationship management unit with a 24-hour contact centre to serve clients across different time zones, particularly in Europe and the Americas.

With an estimated three million Ugandans living abroad, Equity Bank says its diaspora services have reached close to one million people globally.

Following the awards, the bank plans to grow its diaspora market share through international outreach, diplomatic engagements, digital campaigns, and referrals from its existing customer base.

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المصدر: The Observer (Uganda)