Uganda seeks increased diaspora and institutional investment

Ugandan officials and financial leaders are calling for increased investment to drive the nation’s economic transformation. Minister for the Presidency Babirye Milly Babalanda urged the Ugandan diaspora to move beyond sending remittances and instead contribute through technology, skills, and capital. She noted that remittances reached approximately US$2.8 billion in the 12 months leading to March 2026, an increase from US$1.9 billion the previous year.

Simultaneously, Absa Bank Uganda is emphasizing the need to convert investment interest into bankable, financed projects. Managing Director David Wandera highlighted the importance of developing projects with the governance and commercial structures necessary to attract capital in sectors such as energy, infrastructure, and manufacturing. Recent examples of such financing include a US$50 million facility for the Uganda Electricity Distribution Company Limited to expand electricity connections.