Bank of Uganda concerned over the lack of new firm listings on USE
The Bank of Uganda (BOU) has raised concern over the performance of Uganda’s Securities Exchange (USE), which has failed to attract new listings. Deputy Governor Dr Louis Kasekende said that an investigation should be carried out to identify the obstacles hindering companies from listing on the USE. “We recognise the important contribution that the USE is making to the development of the financial system and the economy,” said Kasekende. “It is proving difficult to attract companies to issue securities on the Exchange. It would be useful to see more research into the obstacles that deter companies from listing so that we are able to formulate realistic policy solutions,” he added. Robert Baldwin, the chief executive of Crested, said the USE is currently starved of initial public offerings due to lack of interest to list by new issuers.