Equity Group has received shareholder approval to establish a Representative Office in the United Arab Emirates (UAE), signalling a major step in its strategic expansion beyond the African continent.
Pending regulatory approvals from the Central Bank of Kenya and UAE authorities, the new office will unlock vast business, trade, and investment opportunities—linking East and Central Africa with the UAE, the broader Middle East, India, Central Asia, and South Asia.
For the thousands of Equity Bank Uganda customers living and working in Dubai, the UAE, and Saudi Arabia, the development represents a long-awaited leap forward in accessing tailored financial services.
The approval—granted during Equity Group’s 21st Annual General Meeting on 25th June 2025—reflects a bold vision to connect continents.
The Dubai office is set to become a key hub for diaspora clients, offering personalised banking services, trade facilitation, diaspora banking solutions, capital raising support, and more.
This milestone builds on Equity Bank Uganda’s growing engagement with its diaspora community. In recent years, the bank has undertaken outreach missions to Dubai and Saudi Arabia, where service and management teams offered bespoke financial solutions ranging from remittances to investment opportunities designed to meet the specific needs of Ugandans abroad.
For many East Africans working in the Gulf as professionals, entrepreneurs, and labourers, the absence of direct banking support has long been a challenge. Informal remittance channels and distant banking relationships have often led to delays and high transaction costs.
The new UAE office, expected to be operational in early 2026, aims to change that. It will provide on-the-ground support for services such as letters of credit and supply chain financing, reduce settlement delays, and enhance remittance and mobile money offerings—furthering Equity’s vision to be Africa’s "one-stop financial services platform," as championed by Group Managing Director Dr. James Mwangi.
Additionally, the move paves the way for Gulf-based investors to explore East Africa’s fast-growing markets—particularly in agribusiness, infrastructure, and energy—sectors where many Ugandan expatriates are keen to invest.
