Uganda Securities Exchange

Trading

A published report in February 2011 claimed that USE would 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 were 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.

Market listing

**

Notes on market listings

(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.{{cite web | date=1 August 2013 | title=Umeme makes first trade at Nairobi Stock Exchange | first=David | last=Mugwe | access-date=19 August 2016 | newspaper=Daily Monitor Mobile| location=Kampala| url=http://mobile.monitor.co.ug/Business/Umeme+makes+first+trade+at+Nairobi+Stock+Exchange/-/1055106/1933782/-/format/xhtml/-/fj96qoz/-/index.html}} (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. (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. (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. (5) Umeme, the largest electric power distributor in Uganda, is listed primarily on the USE and is crosslisted on the Nairobi Stock Exchange. (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).{{cite web | access-date=25 July 2015 |newspaper=Business Daily Africa | url=http://www.businessdailyafrica.com/Equity-debuts-at-the-Rwanda-Stock-Exchange/-/539552/2620812/-/10uea63/-/index.html | title=Equity debuts at the Rwanda Stock Exchange | first=George | last=Ngigi | date=11 February 2015| location=Nairobi}} (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.

Ownership

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. 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 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 each.

The shareholding in the stock of the Uganda Securities Exchange is as depicted in the table below.

Note The totals are slightly off due to rounding.

References

References

1. https://www.use.or.ug/content/equities
2. Mark Keith Muhumuza. (20 February 2015). "USE gets new chief executive". [[Daily Monitor]].
3. (2025-06-29). "Investing in the Ugandan Stock Market".
4. Geoffrey Onegi-Obel. (19 August 2016). "Bank of Uganda governors and the capital markets industry". [[The Observer (Uganda)]].
5. Anyanzwa, James. (20 August 2016). "New law passed, gives Ugandan bourse nod to go public". [[The EastAfrican]].
6. Mark Keith Muhumuza. (5 February 2015). "Automated stock market to start trading in May". [[Daily Monitor]].
7. Wafula, Walter. (31 December 2010). "USE to increase trading days next year". [[Daily Monitor]].
8. IBTimes Staff Reporter. (9 July 2013). "East African Stock Exchange In The Works To Merge Buoyant, Profitable Markets". [[IBTimes]].
9. Winile Masinga, and Polycarp Machira. (9 July 2013). "East Africa Hopes to Have Regional Stock Exchange in a Year - Experts". TrustMedia via [[AllAfrica.com]].
10. [http://stockmarket-holidays.com/uganda-securities-exchange-holidays/586/ Uganda Securities Exchange Holidays]
11. Ojambo, Fred. (10 February 2011). "Centum of Kenya Starts Secondary Trading in Uganda". [[Bloomberg News]].
12. "How to Invest in the Ugandan Stock Market".
13. Monteiro, Ana. (3 January 2011). "Ugandan Bourse Plans to Expand Trading Days, Daily Monitor Says". [[Bloomberg News]] Quoting [[Daily Monitor]].
14. Oketch, Martin Luther. (4 January 2011). "USE leads Sub-Saharan Africa in All Shares Index 2010". [[Daily Monitor]].
15. Busuulwa, Bernard. (23 July 2015). "Kampala bourse trading platform goes live". [[The EastAfrican]].
16. Oketch, Martin Luther. (2 September 2015). "Automated system raises USE turnover by Shs17b". [[Daily Monitor]].
17. Mugabe, David. (7 November 2012). "Corporate deals to stir dull market". [[New Vision]].
18. Kulabako, Faridah. (29 August 2013). "Uchumi To Cross-List At Uganda Bourse This Year". [[Daily Monitor]].
19. Faridah Kulabako, and Walter Wafula. (7 October 2010). "NMG to cross-list in Uganda on October 19". [[Daily Monitor]].
20. Ojambo, Fred. (29 December 2010). "Uganda Approves Secondary Listing by Centum Investment of Kenya". [[Bloomberg News]].
21. Ilungole, Stephen. (2012). "USE welcomes Umeme listing". [[New Vision]].
22. Moses Mugalu. (29 November 2012). "Umeme lists shares today". [[The Observer (Uganda)]].
23. Bakundana, Martin. (29 August 2018). "Why Uganda's Stock Market Is Not Growing". [[New Vision]].
24. Elias Biryabarema. (6 December 2021). "MTN Uganda shares jump 3% after listing on Ugandan bourse". [[Reuters]].
25. Deogratius Wamala. (7 November 2023). "Airtel lists on Uganda securities exchange". [[Daily Monitor]].
26. Kulabako, Faridah. (31 January 2011). "Centum to cross-list on USE". [[Daily Monitor]].
27. Mugabe, David. (18 June 2009). "KCB offers 2 billion shares to Rwandans". [[New Vision]].
28. Githaiga, Hellen. (6 November 2013). "Uchumi to list on Kampala bourse Wednesday". [[The EastAfrican]].
29. Oketch, Martin Luther. (17 February 2015). "They promised to sell shares, what happened?". [[Daily Monitor]].
30. Martin Luther Oketch. (5 October 2017). "USE becomes public limited company". [[Daily Monitor]].