Overview:
Explore Uganda's efforts to stimulate financial growth through technology and innovation
KAMPALA, Uganda — Uganda government has urged investors to harness technology and develop innovative financial instruments to stimulate market growth.
Minister of State for Finance, Planning, and Economic Development Henry Musasizi made the call at the Capital Round Table, held during the Uganda Securities Exchange’s (USE) e-platform launch for Treasury bills and bonds.
“Integrating technology into business operations is crucial for financial inclusion and market liquidity,” Musasizi said. “We must align investor demands with product offerings and automate operations.”
Josephine Okui Ossiya, Capital Markets Authority CEO, emphasized technology’s potential for democratizing access, reducing costs, and promoting financial inclusion.
“Digital platforms provide transparency, reduce transaction costs, and expand capital reach,” Ossiya said.
Uganda Securities Exchange CEO Paul Bwiso highlighted the exchange’s easy-to-use portal, enabling phone-based transactions.
“Our portal simplifies transactions, allowing investors to buy and sell securities effortlessly,” Bwiso said.
The Uganda Securities Exchange has 251,000 registered investors on its Central Securities Depository system, with 46,000 actively holding shares in listed companies. Ugandan participation in Initial Public Offerings has shown steady growth since 2020.
Uganda aims to boost financial inclusion, raising savings to 40% of GDP.