Ugandan Stock Exchange expects doubling of annual trading volume in 2015

Nov 13, 2014

The Uganda Securities Exchange expects its trading volume to double next year, thanks to institutional investors.

The Uganda Securities Exchange expects its trading volume to double next year, thanks to institutional investors.

Innocent Dankaine, the bourse's acting chief executive, said that $140 million (€112.2 million) may change hands at the bourse in 2015 as institutions such as pension funds increase their presence on the exchange, Reuters reports.

Three equity and two corporate bond listings are planned in 2015, he told Reuters on Monday (November 10th).

Foreign investor interest in Uganda has risen in recent years as the East African nation prepares to begin crude oil production in 2018.

In 2013, the country saw the consolidation of macroeconomic stability and a gradual recovery of economic activity, with real GDP growth projected to reach 6.6 per cent in 2014, according to figures from the African Development Bank.

The country's stock-exchange currently has 16 companies and six corporate bonds listed, with a market capitalisation of $9.4 billion.ADNFCR-2976-ID-801759904-ADNFCR