Paul Bwiso has big plans as new CEO of the Uganda Securities Exchange. Challenges include a rival exchange, more listings, automation and demutualization.
The Initial Public Offer by power company Umeme closed on 7 November and results are expected before the listing on 30 November. Before the close, commentators said there was a turnup of applications and that the International Finance Corporation had invested, but parliamentarians called for an inquiry.
Uganda’s only power distributor, Umeme, said it plans to raise capital to invest in Uganda’s electricity sector through an initial public offering (IPO) on the Ugandan and Nairobi securities exchanges later in 2012
The number of investors from other East African countries opening trading accounts at Kenya’s Nairobi Stock Exchange is still very small, but has grown more consistently in the last 2 years than other categories of investors.