Type | Stock Exchange |
---|---|
Industry | Finance |
Founded | 1997 |
Headquarters | Kampala, Uganda |
Key people | Charles Mbire Chairman Paul Bwiso Chief Executive Officer [1] |
Products | Securities |
Website | www |
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. [2]
The exchange opened to trading in January 1998. At that 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. [3]
As of July 2014, the USE traded 16 listed local and East African companies and had started the trading of fixed income instruments. [4] The exchange is a member of the African Stock Exchanges Association. [5]
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 were plans to integrate the four exchanges to form a single East African bourse. [6] [7]
Uganda All Stock Index (ALSIUG) is the benchmark Index of the Uganda Securities Exchange. [8]
A published report in February 2011 claimed that USE would increase trading to five days a week in March 2011. [9]
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 were being considered for the exchange. [10] 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. [11] 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. [12] [13]
As of December 2021 [update]
Number | Symbol | Company | Notes |
---|---|---|---|
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 |
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 Group Holdings Limited | Banking, finance |
12. | NIC | National Insurance Corporation | Insurance |
13. | UCHM | Uchumi Supermarkets [14] [15] | Supermarkets |
14. | NMG | Nation Media Group [16] | Publishing, printing, broadcasting, television |
15. | CENT | Centum Investments [17] | Investments, private equity, real estate |
16. | UMEME | Umeme [18] [19] | Power distribution |
17. | CQCIL | Cipla Quality Chemical Industries Limited [20] | Pharmaceutical manufacturing |
18. | MTNU | MTN Uganda [21] | Mobile Telephony |
(1) East African Breweries Limited, Kenya Airways and Jubilee Holdings, are primarily listed on the Nairobi Stock Exchange and are cross-listed on the Uganda Securities Exchange and on the Dar es Salaam Stock Exchange. [22] (2) 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. [23] (3) 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. [24] (4) 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. [25] (5) Umeme, the largest electric power distributor in Uganda, is listed primarily on the USE and is crosslisted on the Nairobi Stock Exchange. [22] (6) 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). [26] (7) In February 2015, Ugandan media indicated that both Housing Finance Bank and Crane Bank, which had intended to list their shares on the USE, have since changed their plans and put their IPOs on hold. [27]
The exchange is owned by 16 stock brokers. In August 2016, a law was passed to allow the owners to sell shares in the stock exchange to members of the public through an initial public offering. [3] On 18 May 2017, the USE demutualised and registered as a "public company, limited by shares". Its authorised share capital is USh 1 billion, consisting of 100 million shares of 10/= each. At incorporation, the paid up capital was USh 42 million, with each of the founding investor firms owning 6,000,000 shares, each valued at 10/= each. [28]
The shareholding in the stock of the Uganda Securities Exchange is as depicted in the table below. [28]
Rank | Name of Owner | Percentage Ownership |
---|---|---|
1 | African Alliance Uganda Limited | 14.29 |
2 | Baroda Capital Limited | 14.29 |
3 | Crane Financial Services Limited | 14.29 |
4 | Crested Capital Limited | 14.29 |
5 | Dyer & Blair Uganda Limited | 14.29 |
6 | Equity Stock Brokers Uganda Limited | 14.29 |
7 | UAP Old Mutual Financial Services Limited | 14.29 |
Total | 100.00 | |
Note The totals are slightly off due to rounding.
The African Securities Exchanges Association (ASEA) was incorporated in 1993 in Nairobi. ASEA's aim is to provide a formal framework for the mutual co-operation of securities exchanges in the African region. Its functions include the exchange of information and assistance in the development of member exchanges.
The Daily Monitor is a Ugandan independent daily newspaper. Its name is shared by the Saturday Monitor and Sunday Monitor, which are also published by Monitor Publications Limited. Daily Monitor averaged a daily circulation of 24,230 newspapers in September 2011. By the fourth quarter of 2019, that figure had dropped to 16,169 copies daily.
Uchumi Supermarkets, often referred to simply as Uchumi, is a Kenyan supermarket chain. The word uchumi means "economy" in Swahili.
The Dar es Salaam Stock Exchange (DSE) is a stock exchange located on Ohio Street, west of Kivukoni, south east of Dar es Salaam, the commercial capital and largest city in Tanzania. It was incorporated in September 1996 and trading started in April 1998. It is a member of the African Stock Exchanges Association and the World Federation of Exchanges. The exchange is open five days a week, from Monday through Friday. The trading days are weekly from Monday to Friday, starting from 10.00 am to 14.00 pm.
The Jubilee Insurance Company of Kenya (JICK), mostly known as Jubilee Insurance, is an insurance company in Kenya, which has the largest economy in the East African Community. It is a wholly owned subsidiary of Jubilee Holdings Limited, a multinational insurance holding company, which maintains its headquarters in Nairobi, the capital of Kenya, with subsidiaries in Kenya, Tanzania, Uganda, Burundi, and Mauritius, with plans to expand on the African continent.
Nation Media Group is a Kenyan media group listed on the Nairobi Stock Exchange. NMG was founded by Aga Khan IV in 1959 and is the largest private media house in East and Central Africa with offices in Kenya, Uganda, and Tanzania. In 1999, NMG launched NTV, a news channel in Kenya, and Easy FM.
Housing Finance Bank (HFB) is a commercial bank in Uganda. It is one of the commercial banks licensed by Bank of Uganda, the national banking regulator.
Equity Bank Uganda Limited (EBUL), is a commercial bank in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator. EBUL is a subsidiary of Equity Group Holdings Limited, a financial service conglomerate with headquarters in Kenya and subsidiaries in six countries of the African Great Lakes Region.
Umeme Limited is the largest energy distributor in Uganda, distributing about 97 percent of all electricity used in the country. The shares of the stock of the company are listed on the Uganda Securities Exchange (USE) and are cross listed on the Nairobi Stock Exchange (NSE). As of December 2021, the company's total assets were approximately UGX:2.664 trillion, with shareholders' equity of approximately UGX:893.15 billion.
KCB Bank Uganda Limited, also KCB Bank Uganda, is a commercial bank in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator.
Cipla Quality Chemical Industries Limited (CiplaQCIL) is a pharmaceutical manufacturing company in Uganda. According to a 2007 published report, it was the only company in Africa that manufactured triple-combination antiretroviral (ARV) drugs. CiplaQCIL also manufactures the antimalarial drug Lumartem, containing artemisinin and lumefantrine, and the Hepatitis B generic medicines Texavir and Zentair.
I&M Holdings Limited, also I&M Bank Group, is a conglomerate comprising banks, an insurance company and investment advisory businesses. The group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Mauritius, Rwanda, Tanzania and Uganda. The flagship company of the group is I&M Bank Limited, with headquarters in the I&M Bank Tower on Kenyatta Avenue in the central business district of Nairobi, Kenya's capital and largest city.
The Rwanda Stock Exchange Limited was incorporated on 7 October 2005 with the objective of carrying out stock market operations. The Stock Exchange was demutualized from the start as it was registered as a company limited by shares. The company was officially launched on 31 January 2011.
Centum Investment Company Plc, commonly known as Centum is a public East African investment company. It operates as an affiliate of the Kenyan government-owned Industrial and Commercial Development Corporation (ICDC).
MTN Uganda is the largest telecom company in Uganda, with 11.2 million subscribers, accounting for 55 percent market share, as of 30 June 2017. By 31 December 2019, its customer base had increased to 12.6 million customers. In March 2021, the Uganda Communications Commission estimated the number of MTN customers in Uganda at 15 million, out of 28.3 million mobile network subscribers, thereby attaining a 53 percent market share.
Equity Bank Tanzania Limited, is a commercial bank in Tanzania, the second-largest economy in the East African Community. It is licensed by the Bank of Tanzania, the country's central bank and national banking regulator. The bank is a member of the Equity Group Holdings Limited, a large financial services conglomerate, headquartered in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda, South Sudan, Tanzania, Uganda, Democratic Republic of the Congo and a representative office in Ethiopia.
Old Mutual Holdings Plc, Formally known as UAP Holdings Limited, is an investment, retirement, and insurance group that operates mainly in Eastern Africa, but has plans to be a pan-African insurance company. UAP Holdings is one of the leading insurance and financial services groups in eastern Africa with a network of branches and operational subsidiaries spread across the greater eastern and central Africa regions.
Marie Solome Nassiwa, also Marie Solome Nassiwa-Martin, is a Ugandan accountant. She is the financial director at Baylor Foundation Uganda, a non-government organisation that focuses of improving pediatric health through monitoring, nutrition, prevention and treatment of childhood diseases in Uganda. Baylor Foundation Uganda is affiliated with Texas Children's Hospital and Baylor College of Medicine.