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Uganda Securities Exchange

 

Uganda Securities Exchange

Uganda Securities Exchange
Stock Exchange
Industry Finance
Founded June 1997
Headquarters Kampala, Uganda
Key people
Charles Mbire
chairman
Paul Bwiso[1]
chief executive officer
Products Stock trading services
Slogan Building your investment portfolio
Website Homepage

The Uganda Securities Exchange (USE) is the principal stock exchange of Uganda. It was founded in June 1997. The USE is operated under the jurisdiction of Uganda's Capital Markets Authority, which in turn reports to the Bank of Uganda, Uganda's central bank.

The exchange opened to trading in January 1998. At the time, the exchange had just one listing, a bond issued by the East African Development Bank. Trading was limited to only a handful of trades per week.

As of July 2014, the USE trades 16 listed local and East African companies and has started the trading of fixed income instruments. The exchange is a member of the African Stock Exchanges Association.[2]

The USE operates in close association with the Dar es Salaam Stock Exchange in Tanzania, the Rwanda Stock Exchange, and the Nairobi Stock Exchange in Kenya. According to published reports in 2013, there are plans to integrate the four exchanges to form a single East African bourse.[3][4]

Contents

  • Trading 1
  • Market listing 2
  • Notes on market listings 3
  • See also 4
  • References 5
  • External links 6

Trading

A published report in February 2011 claimed that USE will increase trading to five days a week in March 2011.[5]

During the first quarter of 2010, the USE adopted the Settlement and Clearing Depository electronic trading system. According to a published report in January 2011, other electronic modalities are being considered for the exchange.[6] In 2010, the USE was the best performing stock exchange in Sub-Saharan Africa, with an All-Shares Index return of 74 percent between January and November 2010.[7] On 20 July 2015, the USE initiated its electronic trading platform, backed by three independent data servers, cutting to three days (previously five days) the time it takes to settle trades.[8][9]

Market listing

As of September 2015

Number Symbol Company Notes
1. BOBU Bank of Baroda (Uganda) Finance, banking
2. BATU British American Tobacco Tobacco products
3. DFCU DFCU Group Finance, banking
4. EABL East African Breweries Brewing, gin, distilled beverages
5. JHL Jubilee Holdings Insurance
6. KA Kenya Airways Aviation
7. KCB KCB Group Finance, banking
8. NVL New Vision Group Printing, publishing, broadcasting, television
9. SBU Stanbic Bank (Uganda) Limited Finance, banking
10. UCL Uganda Clays Limited Manufacturing, construction materials
11. EBL Equity Group Holdings Limited Banking, finance
12. NIC National Insurance Corporation Insurance
13. UCHM Uchumi Supermarkets[10][11] Supermarkets
14. NMG Nation Media Group[12] Publishing, printing, broadcasting, television
15. CENT Centum Investment Company Limited[13] Investments, private equity, real estate
16. UMEME Umeme[14][15] Power distribution

Notes on market listings

  • East African Breweries and Kenya Airways are crosslisted on the Nairobi Stock Exchange and the Dar es Salaam Stock Exchange.
  • Centum Investment Company Limited, Equity Group Holdings Limited, and Jubilee Holdings are listed primarily on the Nairobi Stock Exchange and are crosslisted on the USE.[16]
  • Kenya Commercial Bank Group and Nation Media Group are listed primarily on the Nairobi Stock Exchange and are crosslisted on the USE, the Dar es Salaam Stock Exchange, and the Rwanda Stock Exchange.[17]
  • Uchumi Supermarkets, a regional supermarket retailer with headquarters in Nairobi, Kenya, is listed on the Nairobi Stock Exchange, is crosslisted on the USE and the Rwanda Stock Exchange, and plans to crosslist its shares on the Dar es Salaam Stock Exchange.[18]
  • Umeme, the largest electric power distributor in Uganda, is listed primarily on the USE and is crosslisted on the Nairobi Stock Exchange.[19]
  • Equity Group Holdings Limited is listed primarily on the Nairobi Stock Exchange (2006). It is crosslisted on the USE (2009) and the Rwanda Stock Exchange (2015).[20]
  • In February 2015, Ugandan media indicated that both the Housing Finance Bank and Crane Bank, which had intended to listil their shares on the USE, have since changed their plans and put their IPOs on hold.[21]

See also

References

  1. ^ Muhumuza, Mark Keith (20 February 2015). "USE gets new chief executive".  
  2. ^ Wafula, Walter (31 December 2010). "USE to increase trading days next year".  
  3. ^ IBTimes Staff Reporter (9 July 2013). "East African Stock Exchange In The Works To Merge Buoyant, Profitable Markets".  
  4. ^ Winile Masinga, and Polycarp Machira (9 July 2013). "East Africa Hopes to Have Regional Stock Exchange in a Year - Experts". London: TrustMedia via  
  5. ^ Ojambo, Fred (10 February 2011). "Centum of Kenya Starts Secondary Trading in Uganda".  
  6. ^ Monteiro, Ana (3 January 2011). "Ugandan Bourse Plans to Expand Trading Days, Daily Monitor Says".  
  7. ^ Oketch, Martin Luther (4 January 2011). "USE leads Sub-Saharan Africa in All Shares Index 2010".  
  8. ^ Busuulwa, Bernard (23 July 2015). "Kampala bourse trading platform goes live".  
  9. ^ Oketch, Martin Luther (2 September 2015). "Automated system raises USE turnover by Shs17b".  
  10. ^ Mugabe, David (7 November 2012). "Corporate deals to stir dull market".  
  11. ^ Kulabako, Faridah (29 August 2013). "Uchumi To Cross-List At Uganda Bourse This Year".  
  12. ^ Faridah Kulabako, and Walter Wafula (7 October 2010). "NMG to cross-list in Uganda on October 19".  
  13. ^ Ojambo, Fred (29 December 2010). "Uganda Approves Secondary Listing by Centum Investment of Kenya".  
  14. ^ Ilungole, Stephen (2012). "USE welcomes Umeme listing". Kampala:  
  15. ^ Mugalu, Moses (29 November 2012). "Umeme lists shares today".  
  16. ^ Kulabako, Faridah (31 January 2011). "Centum to cross-list on USE".  
  17. ^ Mugabe, David (18 June 2009). "KCB offers 2 billion shares to Rwandans".  
  18. ^ Githaiga, Hellen (6 November 2013). "Uchumi to list on Kampala bourse Wednesday".  
  19. ^ Mugwe, David (1 August 2013). "Umeme makes first trade at Nairobi Stock Exchange". Retrieved 25 July 2015. 
  20. ^ Ngigi, George (11 February 2015). "Equity debuts at the Rwanda Stock Exchange".  
  21. ^ Oketch, Martin Luther (17 February 2015). "They promised to sell shares, what happened?".  

External links

  • Uganda Securities Exchange website
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