Uganda Securities Exchange (USE) Uganda’s principal stock Exchange, has on Monday announced the admission of Chipper Technologies Uganda Limited as a new Trading Participant/stockbroker on its market and as a USE Securities Central Depository Agent (SCDA).
As a trading participant, Chipper’s core mandate is to enable existing and potential investors execute transactions in relation to shares and bonds listed on USE by providing stock brokerage services in line with the rules of the Exchange, the Capital Markets Act and regulations thereunder.
“Having acquired a stockbrokerage license from the Capital Markets Authority (CMA) and having satisfied the eligibility requirements to be a stockbroker of the USE in all material respects, it is our pleasure to welcome Chipper as a new trading participant in the market. To-date, we have a diverse range of over 130,000 investors on the market and we are continuously working to ensure an improved experience for the investor as they undertake their investment journey. We look forward to working with Chipper to deliver efficient investment services in the market as we pursue a common market goal of empowering investors through promoting safe, convenient and sustainable investments,” commented Paul Bwiso, CEO of the Uganda Securities Exchange.
“The world is changing and technology, innovation and financial inclusion are a major driver of the change. Chipper’s admission to the USE is a testament of our goal to transform the nation and the market,” he added.
Representatives from the Board and management of Chipper Technologies rang the market open bell to signify its inaugural day of trading as broker in the market. Chipper has also been approved as a USE Securities Central Depository Agent (SCDA).
“Over the past year the Exchange has significantly enhanced its digital capabilities, directly and through strategic partnerships in a bid to further democratize the Uganda stock market. We want to reiterate our commitment to growing an inclusive market. In addition to service efficiency, we hope that Chipper, leveraging its fintech business model, will boost our current efforts to drive the financial inclusion agenda in the market” stated the Chairman Board of the Exchange Mr. Richard Byarugaba.
Ms. Miriam Musaali, Board secretary, the Capital Markets Authority called upon Chipper and other stock brokers to join the market and springboard it’s vibrancy.