The Ministry of Foreign Affairs (MoFA) will convene the inaugural Uganda Diaspora Convention from December 18 to 19, 2024, to chart ways of maximising remittance.
The convention at the Commonwealth Speke Resort, Munyonyo, will be held uner the central theme of “Mobilising the Diaspora for Social Development.”
It comes on the back of persistent reports of exploitation of remittances by unscrupulous relatives and other persons Diaspora community might deal with back home.
Vice President Jessica Alupo is expected to grace the event as the Guest of Honour.
The Convention has been organised to chart ways in which the Diaspora community can maximize the benefits of their remittances while addressing persistent challenges, particularly exploitation by unscrupulous relatives and individuals.
The MoFA, alongside its forty diplomatic missions, has been working to engage members of the Ugandan Diaspora through a range of events such as the Uganda North American Association (UNAA) and Uganda-UK Diaspora Convention.
"This Convention aims to directly tackle the barriers that hinder effective financial and social investments by the Diaspora into Uganda’s economy," MoFA said in a statement.
Reports indicate that Diaspora community, estimated at over two million people, contributes more than 1.4 billion dollars annually through remittances.
Total remittances stood at $1.42 billion in the 12 months to January 2024 up from $1.25 billion in the same period a year earlier - representing a 13.4 percent rise.
Despite this significant financial inflow, many members of the Diaspora face exploitation, where relatives and intermediaries misuse or mismanage funds sent for vital developmental projects or family support.
In light of this, Permanent Secretary at MoFA, Vincent Bagiire, emphasized the need for creating effective avenues to ensure that the wealth generated by the Diaspora is used constructively for Uganda’s development.
"While the Diaspora has made substantial contributions to Uganda’s GDP, we must ensure that these resources are protected from abuse, and that they are channeled into sustainable economic and social initiatives," he said.
The Convention will also discuss ways to improve consular services for Ugandans abroad, explore the economic opportunities available in Uganda, including in agriculture, tourism, oil and gas, as well as banking and land protection.
Ambassador Johnnie Muthahi Muhindo, Head of the Diaspora Services Department at MoFA, pointed out that the Department’s role is pivotal in assisting the Ugandan Diaspora in managing their financial resources effectively and facilitating their contributions to national development.
The role of remittances in transforming Uganda’s economy, particularly through Diaspora-led investments, is a key issue that will be explored, especially as global migration trends continue to increase.
UNDP Resident Representative Nwane Vwede-Obahor described the Convention as a crucial platform for dialogue, offering the opportunity to discuss solutions to the challenges faced by the Diaspora while exploring how their investments can directly benefit Uganda’s development.
The event, expected to become an annual fixture, is set to become a landmark in fostering greater collaboration between the government and its Diaspora, ensuring that the full potential of their remittances and contributions is realized for sustainable development.