Uganda Securities Exchange
chief executive officer
|Products||Stock trading services|
|Slogan||Building your investment portfolio|
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[update], 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.
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.
A published report in February 2011 claimed that USE will increase trading to five days a week in March 2011.
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. 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. 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.
As of September 2015[update]
|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|
|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|
|14.||NMG||Nation Media Group||Publishing, printing, broadcasting, television|
|15.||CENT||Centum Investment Company Limited||Investments, private equity, real estate|
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.
- 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.
- 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.
- Umeme, the largest electric power distributor in Uganda, is listed primarily on the USE and is crosslisted on the Nairobi Stock Exchange.
- 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).
- 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.
- Economy of Uganda
- List of stock exchanges
- List of African stock exchanges
- East African Community
- Uganda shilling
- Muhumuza, Mark Keith (20 February 2015). "USE gets new chief executive". Daily Monitor (Kampala). Retrieved 25 July 2015.
- Wafula, Walter (31 December 2010). "USE to increase trading days next year". Daily Monitor. Retrieved 25 July 2015.
- IBTimes Staff Reporter (9 July 2013). "East African Stock Exchange In The Works To Merge Buoyant, Profitable Markets". IBTimes. New York City. Retrieved 25 July 2015.
- Winile Masinga, and Polycarp Machira (9 July 2013). "East Africa Hopes to Have Regional Stock Exchange in a Year - Experts". London: TrustMedia via AllAfrica.com. Retrieved 25 July 2015.
- Ojambo, Fred (10 February 2011). "Centum of Kenya Starts Secondary Trading in Uganda". Bloomberg News. Retrieved 25 July 2015.
- Monteiro, Ana (3 January 2011). "Ugandan Bourse Plans to Expand Trading Days, Daily Monitor Says". Bloomberg News Quoting Daily Monitor. Retrieved 25 July 2015.
- Oketch, Martin Luther (4 January 2011). "USE leads Sub-Saharan Africa in All Shares Index 2010". Daily Monitor. Kampala. Retrieved 25 July 2015.
- Busuulwa, Bernard (23 July 2015). "Kampala bourse trading platform goes live". The EastAfrican. Nairobi. Retrieved 23 July 2015.
- Oketch, Martin Luther (2 September 2015). "Automated system raises USE turnover by Shs17b". Daily Monitor. Kampala. Retrieved 2 September 2015.
- Mugabe, David (7 November 2012). "Corporate deals to stir dull market". New Vision. Retrieved 6 July 2014.
- Kulabako, Faridah (29 August 2013). "Uchumi To Cross-List At Uganda Bourse This Year". Daily Monitor. Retrieved 25 July 2015.
- Faridah Kulabako, and Walter Wafula (7 October 2010). "NMG to cross-list in Uganda on October 19". Daily Monitor. Retrieved 25 July 2015.
- Ojambo, Fred (29 December 2010). "Uganda Approves Secondary Listing by Centum Investment of Kenya". Bloomberg News. Retrieved 25 July 2015.
- Ilungole, Stephen (2012). "USE welcomes Umeme listing". Kampala: New Vision Mobile. Retrieved 25 July 2015.
- Mugalu, Moses (29 November 2012). "Umeme lists shares today". The Observer (Uganda). Retrieved 25 July 2015.
- Kulabako, Faridah (31 January 2011). "Centum to cross-list on USE". Daily Monitor. Retrieved 25 July 2015.
- Mugabe, David (18 June 2009). "KCB offers 2 billion shares to Rwandans". New Vision. Retrieved 25 July 2015.
- Githaiga, Hellen (6 November 2013). "Uchumi to list on Kampala bourse Wednesday". The EastAfrican. Retrieved 25 July 2015.
- Mugwe, David (1 August 2013). "Umeme makes first trade at Nairobi Stock Exchange". Retrieved 25 July 2015.
- Ngigi, George (11 February 2015). "Equity debuts at the Rwanda Stock Exchange". Business Daily Africa (Nairobi). Retrieved 25 July 2015.
- Oketch, Martin Luther (17 February 2015). "They promised to sell shares, what happened?". Daily Monitor (Kampala). Retrieved 25 July 2015.