Prof Nuwagaba urges Ugandans abroad to take greater ownership of the country’s economic story
Professor Augustus Nuwagaba of the Bank of Uganda is encouraging the Ugandan diaspora to shift from sending simple remittances to making strategic investments in the national economy. The government is exploring new financial instruments like Diaspora Bonds to facilitate this transition.
Why it matters
Leveraging diaspora wealth is a key strategy for developing nations to fund infrastructure and economic growth without relying solely on foreign debt.
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Equity Bank Uganda Hosts Diaspora Webinar on Turning Remittances into Investment Capital
Kampala, Uganda | NEWS CORRESPONDENT | Professor Augustus Nuwagaba, Deputy Governor of the Bank of Uganda, called on Ugandans abroad to take greater ownership of the country’s economic story by converting remittances into strategic investments.
Quoting the African proverb, “Until the lion learns how to tell its story, the story of the hunt will always glorify the hunter,” Professor Nuwagaba urged the diaspora to shape its own narrative and highlight its contribution to national development.
He was speaking at Equity Bank Uganda’s 2026 Diaspora Webinar under the theme “From Remittances to Investment Capital: Unlocking Diaspora Wealth for Uganda’s Economic Transformation.” The virtual engagement on Saturday, brought together Ugandans living across Europe, North America, the Middle East, Asia, Australia and East Africa, alongside senior government and central bank officials.
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