- Chipper Technologies has satisfied the eligibility requirements to be a stockbroker of the USE
- Will enable existing and potential investors to execute transactions in relation to shares and bonds
- The Pan-African payments service provider has been in operation for over four years
Chipper Technologies Uganda Limited (Chipper) was recognized as having received the green light from the Uganda Securities Exchange (USE) to join the stock market as a trading participant (broker) and Securities Central Depository Agent of the exchange.
The Pan-African payments service provider has been in operation for over four years and on August 10, 2022, became the latest entrant as a Stock Broker on the USE.
Speaking during its admission ceremony at the Nakawa Business Park, Chipper Technologies Uganda Limited Managing Director, Dan Tumuramye, said the company aims to enable easy access to financial markets for ordinary Ugandans looking to invest in a diverse portfolio.
“Our Admission to the Uganda Securities Exchange is another significant milestone for us. As a technology company with a presence across Africa, Uganda remains an important hub for us. We are committed to providing a largely unbanked and underserved demographic easy access to products and services to deepen financial inclusivity across the continent,” says Tumuramye.
Speaking on behalf of the Exchange, the CEO, Mr. Paul Bwiso said, “having acquired a stock brokerage license from the Capital Markets Authority (CMA) and has satisfied the eligibility requirements to be a stockbroker of the USE in all material respects, it is our pleasure to welcome Chipper as a new trading participant in the market.”
“To date, we have a diverse range of over 130,000 investors on the market and we are continuously working to ensure an improved experience for the investor as they undertake their investment journey”, Bwiso remarked adding, that they are looking forward to working with Chipper to deliver efficient investment services in the market as we pursue a common market goal of empowering investors through promoting safe, convenient and sustainable investments.
As a trading participant, Chipper’s core mandate is to enable existing and potential investors to execute transactions in relation to shares and bonds listed on USE by providing stock brokerage services in line with the rules of the Exchange, the Capital Markets Act, and regulations
The Board Chairman, Mr. Richard Byarugaba of the USE congratulated Chipper for successfully getting admitted to the USE and expressed confidence in the strengthening of the bourse with the addition of another new entrant.