Uganda Securities Exchange

Country
Uganda
Number of listed companies
16
Domestic market capitalization
7,804
SSE Partner Exchange

Yes

Has annual sustainability report

No

Requires ESG reporting as a listing rule

No

Has written guidance on ESG reporting

No

Offers ESG related training

No

Has sustainability-related indices

No

Has sustainability bond listing segment

No

Has SME listing platform
Additional information
  • The Exchange has three segments which can be utilized by investors to raise capital:
  • EQUITIES
    • i. Growth Enterprise Market Segment (GEMS) which aims at small and medium sized enterprises.
    • ii. Main Investment Market Segment (MIMS) is main market segment and attracts stringent eligibility, listing and disclosure requirements.
  • FIXED INCOME
    • iii. Fixed Income Securities Market Segment which provides a separate market for government bonds, corporate bonds, commercial paper, preference shares, debenture stocks and any other fixed income instruments.
Organizational model of stock exchange
  • Demutualised entity
Regulatory model
  • The CMA, established by an Act of Parliament, has overall supervisory powers over the capital markets industry. Its powers include licensing all market intermediaries and stock exchanges as well as approving all new issues and corporate actions.
  • The USE  is a “first tier regulator”, having direct oversight over the listed entities and member firms, on behalf of the CMA as a self regulatory organization.
  • Pursuant to that, the USE enacts its own regulation that governs listing of securities and membership of brokerage firms as well as conduct of trading through its automated trading system.
About the stock exchange
Location: Kampala, Uganda
  • The Uganda Securities Exchange (USE) was established in 1997 as a company limited by guarantee, and was licensed in 1998 by the Capital Markets Authority to operate as an approved securities exchange. The Exchange is a central place for trading of securities by licensed brokers/dealers. It provides a credible platform for raising of capital; through the issuance of appropriate debt, equity and other instruments to the investing public. In this way, the Exchange provides essential facilities for the private sector and government to raise money for business expansion and enables the public to own shares in companies listed on the Exchange.
  • In 2017, the Exchange demutualised and became a public company limited by shares. The Exchange is governed by a Board of Directors that includes representatives of listed entities, representatives of brokerage firms as well as independent non executive directors. The Exchange also has a securities central depository that is responsible for settlement of all trades as well as custody of securities. It also provides registry services to companies. There are plans underway to self list the Exchange in the next few years and open up its ownership to other interested parties and investors.
Ownership of Exchange (Shares >4% only) Share
African Alliance Uganda Ltd 14.29%
Baroda Capital Markets Ltd 14.29%
Crane Financial Services Ltd 14.29%
Crested Stocks and Securities Ltd 14.29%
Dyer & Blair Ltd 14.29%
Equity Stock Brokers Ltd 14.29%
UAP Financial Services Ltd 14.29%