Housing Finance Bank Uganda eases trading as it unveils gov’t securities portal
KAMPALA-Housing Finance Bank Uganda has launched the government securities portal for customers who invest in treasury bonds and bills to help government raise funds for its development activities.
In 2020, the Bank OF Uganda [BoU] appointed Housing Finance Bank as one of primary dealers to ensure investors and market customers have easy access to treasury bonds and bills.
Robert Nyehangane, Treasury Head, Housing Finance Bank said to buy treasury bills or bonds, you need a central securities depository [CSD] account. With the portal, you can open a CSD account within an hour and a Housing Finance Bank account.
“Customers can invest as low as Shs 1,000. Please embrace this journey as we accumulate wealth,” he said.
Peace Ayebazibwe Kabunga, the Executive Director of Housing Finance Bank said: “Our customers, you are the reason we exist. We want to thank you for choosing to bank with Housing Finance Bank and we are committed to our promise to continue giving you convenience through digital transformation.”
“You can transact and invest from the comfort of your home. As long as you have internet, you can invest for yourself and your family. Be it at your farm, or in the diaspora, there is no need to come to Uganda to buy government securities,” she added.
Michael Mugabi, the Managing Director of Housing Finance Bank said: “To our customers, continue celebrating with us, identify with us, and be part of this journey and milestone as we commemorate what I call ‘empowering you, our customers.”
He added: “What you just witnessed here is basically a situation where we empower you. That is what banking is coming to. A customer who is empowered in terms of knowledge, information, financial opportunities, and prospects.”
He said Housing Finance is the first bank in this country to launch a securities portal.
“From us to you, the customers that have graced this event, we are happy to be celebrating this key milestone where we empower you,” he said.
Dr. Charles Abuka, Executive Director of Operations at BOU said they are interested in financial markets because of a very simple reason. The only sure way to alienate poverty is for a country to widen and deepen its financial markets.
“The government of Uganda and the Bank of Uganda as its agent have engaged in efforts to widen & deepen financial markets because they are important for growth and have poverty-reducing effects the world over,” he said.
“Housing Finance Bank has been a primary dealer since the adoption of the Primary Dealership System in 2020. It is our pleasure to see our indigenous banks competing on an equal footing with international banks,” Abuka said.
https://thecooperator.news/absa-africa-financial-markets-index-launch-2022-set-for-october/
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