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UGANDA SECURITIES EXCHANGE Ltd Country Report - UGANDA

UGANDA SECURITIES EXCHANGE Ltd Country Report - UGANDA. Uganda – Geography. Landlocked East African country. Home to the source of the Nile Surface area: 236,040 sq. km Land 199,710 sq. km (84.6%) Water 36,330 sq. km (15.4%) - including Lake Victoria Natural resources:

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UGANDA SECURITIES EXCHANGE Ltd Country Report - UGANDA

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  1. UGANDA SECURITIES EXCHANGE LtdCountry Report - UGANDA ASEA - September, 2005

  2. Uganda – Geography • Landlocked East African country. Home to the source of the Nile • Surface area: 236,040 sq. km • Land 199,710 sq. km (84.6%) • Water 36,330 sq. km (15.4%) - including Lake Victoria • Natural resources: • Arable land; climate; Copper; cobalt; limestone; hydro electricity; salt; gold; wildlife, vegetation and terrain; tropical forests • Terrain • Mostly plateau with a rim of mountains – Rwenzori, Elgon etc and rift valley escarpment to the West. • Geographical Summary – landlocked, fertile, well watered tropical country with many rivers, lakes. ASEA - September, 2005

  3. Uganda – People • Population – 27.2 million (2005 estimates) • Population growth rate – 3.31% (2005 estimates) • Life expectancy – 46 years (2004 estimates) • Over 23 recognized ethnic groups • Official language – English ASEA - September, 2005

  4. Economy at a glance – Inflation Headline inflation • High of 12.6% in April due to sharp food price increases as a result of unfavourable weather • Six months upward trend broken in May with rates falling to 10% as at end June. Underlying inflation • Fluctuated within the 4-5% range before taken on a steady upward trend after April • June inflation recorded at 6.5% ASEA - September, 2005

  5. Economy at a glance – Interest rates • Rates maintained relative stability throughout the period under review • Rates as at June 30th, 2005 • 8.98% - 91 day • 10.71% - 182 day • 13.14% - 364 day • Government now executing its new policy to reduce the volume of T-Bill issuances ASEA - September, 2005

  6. Economy at a glance – Foreign Exchange rate • Exchange rate hit a low of Ushs 1,711 per dollar between February and March, 2005 • Sharp increase to Ushs 1,778 in the IFEM in the month April. June IFEM levels at Ushs 1,738. ASEA - September, 2005

  7. Stock Market Indicators – USE ALSI • Base value (December 2002)– 100 • August 2004 end value – 353.71 • All time high (July 12th, 2005) - 731.91 • July 2005 end value - 640.53 ASEA - September, 2005

  8. Market Statistics – MIMS NEW DEVELOPMENTS • May activity was the highest ever recorded in the History of USE • Volumes for the quarter covering April – June 2005 reported a 470% from the preceding quarter. ASEA - September, 2005

  9. Market Statistics - FISMS GOVERNMENT BOND SCHEDULE – April to July 2005 NEW DEVELOPMENTS • Two new 3 year bonds listed in April and July. • 2 year bond listed in June • Total amount issued to date stands at Ushs 535 bn ASEA - September, 2005

  10. Market Statistics – Yield Curve ASEA - September, 2005

  11. New developments – Sovereign Rating • Rating received in March, 2005 from Fitch Ratings • Long term Rating - B • Short Term Rating - B • Local Currency long term rating - B • Country Ceiling - B ASEA - September, 2005

  12. Public Education and awareness – February to July,2005 • Implementation of the communication strategy – • Promotional materials – final consignment, June 2005. • Jinja Open day Event (June,2005) • Secondary Schools education Programme – School visits in Eastern Uganda; • Tertiary Institutes’ Education Programme (TIEP) – University visits to the Exchange • Eastern Regional Trade Fair(May/June, 2005) • Facts behind the Figures conferences - BOBU, UCL, DFCU • Corporate Social Responsibility Initiative launched – June 2005 • Publication of 2 quarterly bulletin ASEA - September, 2005

  13. Upcoming initiatives General thrust for the newly started financial year – “Business development- development of revenue centers” • Completion of the CDS project • New listings – Equity, government and corporate debt • Proposed cross listings • Public education and awareness • Commissioning of a Financial Training Center at USE • Bourse Game ASEA - September, 2005

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