Diaspora Sacco to Take Center Stage at Museveni Victory Party in Cape Town

Cape Town, South Africa – A few weeks after Yoweri Kaguta Museveni was declared winner of the 2026 general elections with a landslide 71 percent victory, members of the National Resistance Movement (NRM) in the diaspora have organized a victory party that will also mark the launch of a Ugandan Diaspora Savings and Credit Cooperative Organization (Sacco).

The event, scheduled for March 28–29, 2026, at the Cape Town International Convention Centre, is expected to be officiated by President Museveni. Beyond celebrations, the gathering aims to unite Ugandans living abroad around a shared vision of economic empowerment and investment back home.

Speaking about the initiative, Phillip Kakuru, Senior Presidential Advisor on Trade and NRM Diaspora Patron, emphasized the transformative potential of collective savings among Ugandans abroad.

“With an estimated 4 million Ugandans in the diaspora each contributing $50 monthly—equivalent to $600 annually—we can mobilize approximately $2.5 billion every year. If invested back in Uganda, this capital can significantly boost national development and economic growth,” Kakuru said.

He noted that the pooled funds could be channeled into key sectors such as real estate, stock markets, government securities, private healthcare, and potentially lead to the establishment of a diaspora-owned bank.

Kakuru drew parallels with successful financial institutions like Equity Bank, which began as a modest savings initiative, and cooperative banking models in Sri Lanka, expressing confidence that the diaspora Sacco could evolve into a major financial institution.

Importantly, he clarified that the Sacco will be inclusive, targeting all Ugandans regardless of political affiliation, similar to government initiatives such as Parish Development Model and Emyooga, which focus on grassroots economic empowerment.

“This initiative is about financial well-being for all Ugandans—whether doctors, engineers, teachers, or those in the informal sector. The goal is shared prosperity,” he added.

The Cape Town launch is part of a broader global rollout, with similar events planned across the United States, Canada, the United Kingdom, Europe, Scandinavia, Australia, China, the UAE, and other African countries to mobilize diaspora communities in support of Uganda’s socio-economic transformation agenda.

Victory Celebrations and Activities

The diaspora NRM members will also celebrate their party’s electoral victory through a series of engagements involving senior party leaders, government officials, private sector representatives, and international partners, including members of South Africa’s African National Congress.

According to the organizing committee led by Abu Mayanja and Umar Batambuze, the event is expected to attract between 1,500 and 2,000 delegates.

Participants will take part in networking sessions, investment discussions, and tourism activities, including a boat excursion to Robben Island, where Nelson Mandela was imprisoned for 27 years. Delegates will also visit wineries and grape farms in the Western Cape to explore agricultural value addition opportunities.

Consular Services and Government Participation

The Ugandan Embassy in South Africa, led by Ambassador Paul Amoru and Deputy Ambassador Kintu Nyago, will provide on-site consular services such as passport processing, national ID registration, and visa support to attendees.

A number of high-profile dignitaries from Uganda are expected to attend, including Anita Annet Among, NRM Secretary General Richard Todwong, and Minister of Microfinance Haruna Kasolo, among others.

Organizers say the initiative aligns with President Museveni’s long-standing ideology of Pan-Africanism, patriotism, and socio-economic transformation, positioning the diaspora as a key driver of Uganda’s development.

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