{"id":25158,"date":"2022-01-24T21:12:40","date_gmt":"2022-01-24T21:12:40","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/?p=25158"},"modified":"2022-01-24T20:55:52","modified_gmt":"2022-01-24T20:55:52","slug":"uganda-raises-shs42-7-trillion-in-government-securities","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-raises-shs42-7-trillion-in-government-securities","title":{"rendered":"Uganda raises Shs42.7 trillion in government securities"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>Bank of Uganda (BoU) says Shs42.71 trillion has been transacted in the secondary market over the last one year. This follows the launch of Reforms to the Primary Dealership System in government securities (treasury bills and treasury bonds) on October 1, 2020.<\/p>\n

BoU says the period ranges from October 1, 2020 to September 2021 has seen tremendous improvement in the government debt market due to transparency.<\/p>\n

Speaking during the annual award ceremony to recognise the best Performing Primary Dealer Market Maker in the government securities market during the period October 2020 \u2013 October 2021, the Deputy Governor Bank of Uganda, Dr Michael Atingi-Ego said: \u201cI applaud the (Primary Dealer Market Makers (PDMMs) for mobilising over Shs12.0 trillion in the scheduled calendar auctions, in the primary market, during the period October 2020 to September 2021. An additional Shs1.4 trillion was raised through private placement auctions.\u201d<\/p>\n

\u201cIn the secondary market, I applaud all the banks and market players because Shs42.71 trillion was transacted during the same period, compared to Shs10.9 trillion before the PDMM system. This is an increase of 288.9 percent,\u201d he added.<\/p>\n

On September 7 2020, the governor BoU, Emmanuel Tumusiime Mutebile said during the launch of Reforms to the Primary Dealership System that as part of the process of increasing efficiency and enhancing liquidity in the financial market, the Central Bank in collaboration with the Ministry of Finance, has undertaken reforms to the government securities market.<\/p>\n

Dr Atingi-Ego explained that the objective is to develop the secondary market which will provide an enabling environment to raise capital as well as provide benchmark pricing for other private sector asset classes including loans and corporate bonds, among others. The reforms culminated in the Bank of Uganda appointing seven commercial banks in October 2020 to be the Primary Dealer Market Makers (PDMMs) for three years.<\/p>\n

\u201cThis aligned our financial market with international best practice and our market is now amongst a handful of African countries with a functional PD system,\u201d he said.<\/p>\n

Growth in liquidity<\/b><\/p>\n

The increased liquidity of the government securities market enhances the attractiveness of the securities as it facilitates the ease of entry and exit into the financial market. It also strengthens a country\u2019s ability to withstand exogenous shocks to the economy.<\/p>\n

moketch@ug.nationmedia.com<\/b><\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. Bank of Uganda (BoU) says Shs42.71 trillion has been transacted in the secondary market over the last one year. This follows the launch of Reforms to the Primary Dealership System in government securities (treasury bills and treasury bonds) on October 1, 2020. BoU says the period ranges from October 1, 2020 to […]<\/p>\n","protected":false},"author":84,"featured_media":25157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,12],"tags":[233,240,234],"class_list":["post-25158","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-policy","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nUganda raises Shs42.7 trillion in government securities - Uganda<\/title>\n<meta name=\"description\" content=\"Bank of Uganda (BoU) says Shs42.71 trillion has been transacted in the secondary market over the last one year. 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