Housing Finance Bank launches Securities Portal

In Summary
  • HFB has been a primary dealer since the adoption of the Primary Dealership System in 2020
  • Transactions and investing can be done from home as long as there is internet.
  • With the portal, you can open a CSD account within an hour having brought the turnaround time from 4 hours to 1 hour.
Housing Finance Bank officials pose for a group photo
Image: Courtesy

Housing Finance Bank (HFB) has officially launched its Government Securities Portal that allows customers to buy Treasury Bills and Bonds from anywhere, at any time.

Dubbed, “Invest on the go”, the portal is among the bank’s latest innovations, aimed at extending and easing access to financial services for all Ugandans, regardless of where they are located.

Michael K. Mugabi, the Managing Director at Housing Finance Bank said, “Customers will be able to interact with the Bank conveniently and seamlessly through this portal to purchase Treasury Bills and Bonds from the comfort of their locations, without any paperwork or having to make a trip to the branch.”

Michael K. Mugabi, the Managing Director at Housing Finance Bank responds to business reporters
Image: Edwin Muhumuza

He added, “what you just witnessed here is the Bank empowering its customers with one of the many digital investment options. That is what banking is coming to. It comes down to a customer who is empowered in terms of knowledge, information, financial opportunities, and prospects.”

Speaking at the event, Dr. Charles Abuka, the Executive Director, Operations at Bank of Uganda, said that the Central Bank is interested in financial markets because of a very simple reason. The only sure way to alienate poverty is for a country to widen and deepen its financial markets.

Dr. Charles Abuka, Executive Director of Operations,Bank Of Uganda
Image: Edwin Muhumuza

“This new online portal by Housing Finance Bank will further contribute to this market development by easing registration – which we want to see, easing bidding and trading processes for banks, clients, and government securities, as well as moving away from the old system of manual forms and submitting them to the bank,” he added.

The Executive Director and Chief Business Officer at Housing Finance Bank, Peace K. Ayebazibwe, said “You can transact and invest from the comfort of your home. As long as you have internet, you can invest for yourself and your family. Be it at your farm, or in the diaspora, there is no need to come to Uganda to buy government securities.”

According to Robert Nyehangane, the bank's head of treasury, Customers can now invest in Treasury Bills and Bonds, from as low as Shs 100,000, in the comfort of their homes or offices, without having to go to the banking hall.

Nadia Mindra, the Head of Treasury Sales said “Treasury Bills and Bonds are risk-free, predictable, have no value loss, and are good for individuals looking to make long-term savings. They are also a good way for one to diversify their investments and generate a steady stream of income through periodic interest payments.”

Housing Finance Bank is one of the 10 largest banks in Uganda and the leader in the Mortgage Banking business, with deep local expertise spanning over 54 years.