Uganda Securities Exchange
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| Type | Stock Exchange |
|---|---|
| Industry | Finance |
| Founded | June 1997 |
| Headquarters | Kampala, Uganda |
| Key people | Charles Mbire Chairman Joseph Kitamirike Chief Executive Officer[1] |
| Products | Stock trading services |
| Employees | 16 |
| 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's doors 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 June 2011[update], the USE trades fourteen (14) listed local and East African companies and has started the trading of fixed income instruments. The exchange, which is open five days a week, is a member of the African Stock Exchanges Association.[2] Two new listings are expected by the end of Q1:2012.
The USE operates in close association with the Dar-es-Salaam Stock Exchange in Tanzania and the Nairobi Stock Exchange in Kenya and plans are underway to integrate the three to form a single East African bourse.
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[edit] Trading
Trading takes place five days a week, Mondays through Fridays.[3] During the first quarter of 2010, the Exchange adopted the Settlement and Clearing Depository (SCD) electronic trading system. Other electronic modalities are being considered for the exchange.[4] In 2010 the Uganda Securities Exchange was the best performing stock exchange in Sub-Saharan Africa, with an ALSI (All-Shares Index) return of 74% between January and November 2010.[5]
[edit] Market listing
As of November 2011[update]
| Number | Symbol | Company | Notes |
|---|---|---|---|
| 1. | BOBU | Bank of Baroda (Uganda) | Finance, Banking |
| 2. | BATU | British American Tobacco | Tobacco Products, Cigarettes |
| 3. | DFCU | DFCU Group | Finance, Banking |
| 4. | EABL | East African Breweries | Brewing, Beer, Gin, Spirits |
| 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 Bank Group | Banking, Finance |
| 12. | NIC | National Insurance Corporation | Insurance, Banking |
| 13. | HFB | Housing Finance Bank (In 2012)[6] | Banking, Finance, Mortgages |
| 14. | TLW | Tullow Oil Plc. (In 2012)[7] | Oil exploration, Gas exploration |
| 15. | NMG | Nation Media Group[8] | Publishing, Printing, Broadcasting, Television |
| 16. | ICDC | Centum Investment Company Limited[9][10] | Investments, Private Equity, Real Estate |
| 17. | UMEME | Umeme (In 2012)[11] | Power distribution |
- East African Breweries and Kenya Airways are crosslisted at both the Nairobi Stock Exchange and the Dar es Salaam Stock Exchanges.
- Centum Investment Company Limited, Equity Bank Group and Jubilee Holdings are crosslisted on the Nairobi Stock Exchange.[12]
- Kenya Commercial Bank Group and Nation Media Group are crosslisted on the Nairobi Stock Exchange, the Dar-es-Salaam Stock Exchange and on the Rwanda Stock Exchange[13][14]
- Tullow Oil, a gas and oil exploration company, listed on the Irish Stock Exchange and on the London Stock Exchange, plans to crosslist their shares on the USE and start trading by March 2012.[15]
[edit] See also
- Economy of Uganda
- List of stock exchanges
- List of African stock exchanges
- Nairobi Stock Exchange
- Dar-es-Salaam Stock Exchange
- Rwanda Over The Counter Exchange
[edit] References
- ^ Key People At Uganda Securities Exchange
- ^ USE To Increase Trading Days In January 2011
- ^ Trading Takes Place Five Days Weekly Effective March 2011
- ^ Ugandan Bourse To Expand Trading Days
- ^ USE Leads Sub-Saharan Africa In All Shares Index 2010
- ^ Housing Finance Bank To List Shares In 2012
- ^ Tullow Oil to List By March 2012
- ^ Nation Media Group To Crosslist Effective 19 October 2010
- ^ USE Approves Crosslisting of Centum Investments of Kenya
- ^ Centum Shares Start Trading On 10 February 2011
- ^ Umeme To List On USE In 2012
- ^ List of Kenyan Companies Crosslisted on The USE
- ^ KCB Group to list on All Four East African Exchanges
- ^ Nation Media Group Now Listed Across East Africa
- ^ Tullow Oil Plans to Crosslist on the USE
[edit] External links
- Uganda Securities Exchange website
- African Securities Exchanges Association Homepage
- Members of The Governing Council of USE
