1st Half 2025: Capital market registers significant growth as USE & CMA launches handbook.

The Capital Markets Authority (CMA), in collaboration with the Uganda Securities Exchange (USE), has reported a robust performance for Uganda's capital markets in the first half of 2025, alongside significant advancements in the regulatory framework designed to foster innovation, enhance investor protection, and attract increased capital deployment.

During a joint press conference held on Tuesday, 29^th July 2025, at UBFC building CMA and USE also launched the first edition of the official handbook of Capital Markets Handbook to “educate and create awareness, promote market development, serve as a regulatory and compliance guide, enhance investor protection” among others.

The CMA C.E.O, Ms. Josephine Okui Ossiya, highlighted the Authority’s commitment to innovation, transparency, which she said has remained steadfast in its commitment to protecting investors and advancing Uganda’s capital market growth.

"We are delighted to report on the strong performance and strategic milestones achieved in the quarter ending June 2025. The CMA remains steadfast in its mandate to promote, facilitate, and develop an orderly, fair, and efficient capital markets industry, creating opportunities for all Ugandans," she said

She revealed several milestones, including during the first half of 2025, including: approval of Regulatory Sandbox Guidelines to accelerate innovation, licensing of five commercial banks as securities dealers, introduction of Uganda’s first credit rating agency under CMA, among others.

“The CMA has continued to strengthen Uganda's regulatory framework, ensuring a robust and investor-friendly environment. The Board's approval of these groundbreaking CMA Regulatory Sandbox Guidelines positions Uganda at the forefront of financial innovation. The sandbox will provide a controlled environment for testing innovative capital-raising solutions and financial technologies,” she said

Mr. Paul Bwiso

The CEO of U.S.E, Mr. Paul Bwiso, who shared the updates on the performance of listed companies, the commodities market, and programs supporting businesses, said that the first half of 2025 saw impressive gains across key market metrics, reflecting growing investor confidence and a stable operating environment.

He attributed the robust performance growth in capital markets to various key drivers, including the macroeconomic stability, the improved index performance, the increase in market capitalization, the increased trading activity, increased participation among others.

“Total turnover for the period stood at UGX 38.42 billion, marking a 0.49% increase compared to H1 2024. Trading volume soared by 68.62% to 446.7 million shares, and the number of deals increased by 24.81% to 3,903. Foreign Institutional Investors accounted for 43% of the total turnover. While overall institutional participation decreased slightly to 72% (from 94% in 2024), participation from local individuals and companies notably increased to 23% and 28% respectively, indicating growing local engagement,” he said.

CMA has assured continued close monitoring of market developments to safeguard investor interests with various companies, including MTN Uganda, UMEME, EABL, among others

The Capital Markets Authority (CMA) is a statutory body responsible for promoting, facilitating, and developing an orderly, fair, and efficient capital markets industry in Uganda.

The Uganda Securities Exchange (USE) is Uganda's an approved stock exchange, providing a platform for the trading of equities and fixed income securities.