Uganda’s Deputy Speaker says just 0.5% of the population invests in the stock market as the country targets a $500 billion economy.
Uganda’s Deputy Speaker of Parliament, Thomas Tayebwa, has challenged the Capital Markets Authority (CMA) to expand access to stock market investment, warning that the country’s economic ambitions will require more Ugandans and businesses to participate in capital markets.
Speaking at Serena Hotel during celebrations marking 30 years of the CMA, Tayebwa said Uganda must look beyond the regulator’s past achievements and focus on mobilising the long-term capital needed to finance businesses, industrialisation, value addition and job creation.
With Uganda pursuing an ambition to build a $500 billion economy, he said capital markets would have a critical role in financing the next phase of economic growth.
‘Ordinary Ugandans Must Benefit’
Tayebwa pointed to the low level of public participation in the stock market, saying only about 0.5% of Ugandans currently invest in listed companies.
He called for a more inclusive investment system in which ordinary citizens can put their savings to work and benefit from business growth.
“I would like to see a future where a teacher in Mitooma can invest part of their salary in a listed company and benefit from its growth,” Tayebwa said.
His remarks highlighted the challenge facing Uganda’s capital markets: expanding investment beyond a relatively small segment of the population and making participation more accessible to citizens across the country.
Tayebwa Pledges Parliament’s Support
The Deputy Speaker pledged Parliament’s readiness to support reforms that would make listing on the stock exchange more affordable while maintaining investor confidence and market integrity.
Lower listing costs could help more companies raise money from investors rather than relying exclusively on bank loans or other sources of financing.
However, expanding access will also require public awareness, confidence in listed companies and strong safeguards to protect investors.
A $500 Billion Economic Ambition
Tayebwa said the CMA must position itself to help mobilise the patient, long-term capital required to support Uganda’s economic transformation.
For businesses seeking to expand production, add value to local products and create jobs, deeper capital markets could provide an additional source of financing.
He congratulated past and present CMA leaders, staff and stakeholders for their contribution to the institution’s achievements over the past three decades.
The challenge now, his remarks suggest, is to translate that progress into a market in which more businesses can raise capital and more Ugandans can participate in the country’s economic growth.
