- A large community of Ugandans live abroad and face challenges trying to invest back home.
- Partners, customers, both new and old can now make UNAA payments and subscriptions through the 18 branches countrywide.
Housing Finance Bank (HFB) has signed a partnership with the Uganda North American Association (UNAA) through which customers are able to pay for their UNAA registration and subscription fees at Housing Finance Branches.
Addressing the press, UNAA President, Henrietta Wamala said, “Housing Finance directs us in the diaspora to the right people when we want to invest for example when buying land or doing in other business to avoid being scammed”
“For us in the diaspora we appreciate the online Banking supported by Housing Finance Bank which is safe and easier for us to send money to Uganda, Wamala added.
According to Michael Mugabi, the Housing Finance Managing Director, they take pride in strategic partnerships such as this one, as they enable us to provide a wide range of financial solutions to our customers and our brothers and sisters domiciled in the diaspora.
“We have a large community of Ugandans living abroad and are cognizant of the challenges faced trying to invest back home, we have tailor made solutions that resonate with the needs of the diaspora. We remain committed to our purpose to enable sustainable home ownership and financial independence for all our customers irrespective of location,” Mugabi remarked.
UNAA is the largest non-political formal association of Ugandans in the Diaspora. The organization aims to promote the social, cultural and economic development of the Ugandan Community in North America and beyond.
The Ugandan Community in North America numbers over 120,000 individuals.
Ugandans working abroad sent home a total of $1.1 billion (Shs4.2 trillion), in the twelve months to July 2022, according to data from Bank of Uganda (BoU).
In the Annual Supervision Report released in June this year, BoU said remittance inflows indicated that there was a recovery from a decline registered in 2020.
Dr Adam Mugume, BoU director for research said: “Remittances totalled around $1.1billion in twelve months to July 2022, almost the same amount as in the same period of 2021.”