By Shisa Naomi.
Uganda Securities Exchange(USE) the country’s principal stock exchange has announced the admission of Chipper Technologies Uganda Limited trading as Chipper as a new trading participant or stockbroker on its market as the Uganda Securities Exchange.
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 130000 investors on the market and we are continuously working to ensure an improved experience for the investors as they undertake their investment journey” said Paul Bwiso, the CEO of Uganda Securities Exchange.
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.
“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” said the chairman board of the Exchange Richard Byarugaba.
