“This year, we have partnered with organisations that can provide our people in the diaspora with financial services and advise to make it easy for them to invest back home...
DIASPORA-Ugandans living and working in the diaspora normally find it challenging to invest back home. This is because they are not physically present to supervise the businesses and have often been out of touch for too long to understand the dynamics involved in successfully setting up and running a business.
In a bid to provide a lasting solution to the challenge and encourage Ugandans to save and invest back home, organisers of the Ugandans in North America (UNAA) Causes Festival 2018, one of the two major umbrella bodies for Ugandans leaving in North America, have invited finance, real estate and money transfer experts from Uganda to sensitise Ugandans in America on new and convenient investment options in Uganda.
The UNAA Causes Uganda Festival 2018 is scheduled to take place between August 30 and September 3, 2018 at Gaylord National Resort and Convention Centre in Washington D.C, USA.
"This year, we have partnered with organisations that can provide our people in the diaspora with financial services and advise to make it easy for them to invest back home," David Muwanaga, the UNAA Causes chief executive officer says.
"Through our already existing UNAA Causes Diaspora entrepreneurship club, we will unveil two savings programmes with Equity Bank at the festival. People will have an opportunity to join the Uganda investments and savings programme for starters or the global investments and savings programme if they are more interested in investing in North America."
He said the first business session will be held on Friday August 31 with a business club breakfast for all Uganda festival 2018 delegates while the second one will be held on Sunday September 2.
Muwanga says in regards to real estate, the festival has partnered with Uganda Housing Finance Bank (HFB) who will educate Ugandans in the diaspora about the available banking and mortgage services.
"We will be at Uganda Festival to chat about how you can save with us, invest back home or buy a house," reads part of a statement from HFB.
Muwanga says in addition, these institutes will help Ugandans save and safely send money for school fees and other necessities, another big challenge for Ugandans in diaspora that support families back home.
The business expo will also highlight the existing opportunities in North America for Ugandans to tap into, hence growing the Uganda export base.
"Entrepreneurs will have the opportunity to exhibit their products and to network with their clients or potential client," he says.
As part of the festival, participants will enjoy a tour of Washington DC, dinner galas, a cruise aboard the Odyssey and a fashion show, among others.
"There will also be musical performances by popular Ugandan artistes that include Afrigo Band, Chris Evans, Geosteady, Fille Mutoni, Lydia Jazmine, Nancy Kitaka, Isaiah Katumwa, David Lutalo, DJ Shiru and Nigeria's Rudeboy," says Muwanga.
However, the festival will not only be about business literacy and fun but also present a chance for Ugandans in the diaspora to make a difference in Uganda.
"We shall hold a fundraising campaign led by Quinn Abenakyo, the newly crowned Miss Uganda. We are looking to raise funds for the extension of clean water to some of the needy communities in Uganda," Muwanga says.