Chipper Technologies Uganda Limited has been admitted by Uganda Securities Exchange (USE) as a stockbroker.
USE, Uganda’s principal stock exchange, announced the admission of Chipper Technologies as a USE Securities Central Depository Agent (SCDA), at their Head office in Kampala on Monday.
As a trading participant, Chipper Technologies core mandate is to enable existing and potential investors to execute transactions in relation to shares and bonds listed on USE. This is by providing stock brokerage services in line with the rules of the exchange, the Capital Markets Act and regulations thereunder.
“Having acquired a stock brokerage 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 Technologies as a new trading participant in the market”, said Paul Bwiso, USE CEO.
Bwiso said USE has a diverse range of over 130,000 investors on the market and are continuously working to ensure an improved experience for the investors as they undertake their investment journey.
He added that USE is looking forward to working with Chipper Technologies to deliver efficient investment services in the market.
“This is by pursuing a common market goal of empowering investors through promoting safe, convenient and sustainable investments,” he stated.
He said over the past year, USE has significantly enhanced its digital capabilities, directly and through strategic partnerships in a bid to further democratize the Uganda stock market.
“We hope Chipper Technologies, through leveraging its fintech business model, will boost USE current efforts to drive the financial inclusion agenda in the market”, said the USE Board of Directors Chairman, Richard Byarugaba.