The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | THE INDEPENDENT | From October 24 – 25, the World Investor Week 2024 was celebrated across Uganda with significant initiatives led by the Capital Markets Authority (CMA) and the Uganda Securities Exchange (USE).
This year’s celebration, part of a global effort by the International Organization of Securities Commissions (IOSCO), focused on “Tech-Enabled Financial Inclusion: Bringing Sustainable Finance and Investment Opportunities to Everyone.”
Key to the activities was the launch of an e-purchase platform for treasury bills and bonds through the USE Easy Portal, aimed at enhancing access to government securities by the Minister of Finance in charge of general duties, Herny Musasizi.
Musasizi, CMA and USE executives said, the portal provides a more accessible, secure, and efficient way for individuals to invest in government securities, reducing the need for physical transactions and enabling broader participation in capital markets.
“This platform enhances transparency and convenience, allowing investors to manage investments digitally and potentially attracting more participation in Uganda’s financial sector,” said Paul Bwiso, CEO at the USE.
Bwiso emphasized the essential role of technology in expanding investment access, particularly for retail investors.
The other activities included hosting seminars, workshops, and lectures covering sustainable finance, digital tools, and investor education.
CMA CEO Josephine Ossiya emphasised the need to address Uganda’s limited investor participation—evidenced by only 253,000 securities accounts among 45 million Ugandans. She stressed that technology, such as mobile platforms, could bridge this gap by increasing accessibility and boosting financial literacy.
Ossiya also noted advancements in Uganda’s capital markets, such as the establishment of regulatory sandbox guidelines – which is work in progress – to foster innovation and simplify compliance.
Uganda’s current market capitalization stands at Shs10.7 trillion, with assets under collective investment schemes valued at Shs3.2 trillion, showcasing significant untapped potential according to Ossiya.
Moses Ogwapush, commissioner of financial services at the Ministry of Finance, added that a supportive regulatory environment, including favorable tax regimes, is crucial for attracting private equity and ensuring market growth and that the government was keen to ensuring this happens.
Additionally, discussions underscored artificial intelligence’s role in financial inclusion, offering tools for assessing creditworthiness and providing financial advice to underserved areas through digital channels.
Experts agreed that World Investor Week 2024 aims to make investment more accessible and secure for Ugandans, highlighting technology as a key driver of inclusive growth and resilience in Uganda’s financial sector – ac reason why the organisers will thoughtfully continue to have celebrations every year.
