Executives from different companies took part in a panel discussion held in Kampala on Oct.08 Uganda Securities Exchange CEO says number of investors could triple Kampala, Uganda | JULIUS BUSINGE | Executives at the Uganda Securities Exchange are optimistic about increased activity and shareholder numbers at the bourse as MTN Uganda’s listing takes shape.
Paul Bwiso, chief executive officer said on the sidelines of the World Investor Week (WIW 2021) event organised by the USE in Kampala on Oct. 08 that, the number of investors is expected to more than triple from 42,000 (both retail and institutional) to 150,000 once listing of MTN Uganda is concluded.
He said the number of Ugandans making inquiries at the exchange, brokerage firms are on the rise. Account opening numbers too have been on an increase in the recent past, according to Bwiso.
The increased numbers of investors on the exchange, coupled with new listings and recovery of the economy would boost activities on the bourse and create other opportunities.
Last month, USE management launched a digital Securities Central Depository (SCD) account opening platform in partnership with MTN Mobile Money in a bid to further democratize Uganda’s stock market.
The innovation, executives said, is the first of its kind in Uganda and it is envisaged to simplify the process of opening an SCD account, which is a requirement for individual investors to participate in the securities market.
Bwiso, said the new digital SCD account opening platform will bolster participation of the everyday Ugandan in the country’s stock market as more people will be able to open their SCD accounts remotely and subsequently be able to invest in any of the companies and debt instruments listed on the USE.
Listed entities commit
Andrew Mashanda, CEO at Stanbic Uganda Holdings Limited (SUHL), one of the sponsors of this year’s investor week event, said they will continue to embrace partnerships that help raise financial literacy across the country as well as drive faster uptake of financial products.
“For us to grow, we have to promote financial literacy in Uganda and help ensure increased market development in line with our purpose,” he said.
The growth of the Uganda Securities Exchange remains very slow as shareholders hold onto their stocks for the long term.Stanbic Bank was the first bank to be listed on the USE more than 15 years ago. It is now part of the holding company, SUHL.The USE management had invited Mashanda to take […]
