Uganda Securities Exchange
Number of listed companies
Domestic market capitalization
SSE Partner Exchange
Has annual sustainability report
Requires ESG reporting as a listing rule
Has written guidance on ESG reporting
Offers ESG related training
Has sustainability-related indices
Has sustainability bond listing segment
Has SME listing platform
- Uganda Growth Enterprise Market Segment (GEMS), since 2012
- The Exchange has three segments which can be utilized by investors to raise capital:
- 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
- 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%|