Equity Bank to Establish UAE Office, Boost Diaspora Services

Equity Group Holdings Plc is set to expand its footprint beyond Africa following shareholder approval to establish a Representative Office in the United Arab Emirates (UAE)—a move hailed as a game-changer for the Group’s regional integration strategy and its growing diaspora clientele.

The resolution was passed during Equity’s 21st Annual General Meeting held on June 25, 2025, and is subject to regulatory clearance from the Central Bank of Kenya and the relevant UAE authorities.

Once operational, the Dubai-based office will serve as a strategic gateway linking East and Central Africa with the UAE, the wider Middle East, India, Central Asia, and South Asia, positioning Equity as a conduit for cross-continental investment and trade.

For Equity Bank Uganda’s thousands of customers living and working in the Gulf, particularly in Dubai and Saudi Arabia, the announcement signals a long-awaited breakthrough. Many have struggled with limited access to banking services—often relying on informal remittance channels, facing high fees, and lacking tailored financial support.

“This development will allow us to deliver one-on-one customer service, facilitate diaspora banking, offer trade finance support, and provide capital-raising solutions,” Equity Group said in a statement following the AGM. “It’s about bringing banking closer to the people.”

The UAE office will play a critical role in streamlining remittances, providing mobile money integration, and facilitating letters of credit and supply-chain finance, reducing costly delays for diaspora customers engaged in import-export and other business ventures.

The initiative also builds on Equity Bank Uganda’s sustained engagement with the diaspora community, particularly through recent outreach missions to Dubai and Saudi Arabia.

During those visits, Equity teams offered personalized financial services tailored to the unique needs of Ugandan professionals, entrepreneurs, and laborers abroad—efforts that were met with enthusiastic reception.

“For many Ugandans in the Gulf, the lack of direct, accessible banking has been a real challenge. This new office is not just a convenience—it’s a lifeline,” said one Ugandan community leader based in Dubai.

Equity Group Managing Director and CEO Dr. James Mwangi has consistently emphasized the Group’s ambition to become Africa’s “one-stop financial services platform.”

The UAE expansion aligns with this vision while also opening the door for Gulf-based investors seeking to access high-growth opportunities in East Africa’s agribusiness, infrastructure, and energy sectors—areas where many Ugandan diaspora members are keen to invest.

The UAE Representative Office is expected to become operational by early 2026, cementing Equity’s role as a financial bridge between Africa and the Middle East and enhancing the Group’s capacity to support inclusive prosperity across borders.