Uganda Securities Exchange partners with MTN Mobile Money to digitalize SCD account opening


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Mr. Stephen Mutana, the Chief Executive Officer MTN Mobile Money Limited makes his remarks at the launch of the digital Securities Central Depository (SCD) account opening platform. By Our Reporter Uganda Securities Exchange’s (USE) Securities Depository USE SCD has launched a digital Securities Central Depository (SCD) account opening platform in partnership with MTN Mobile Money in a bid to further democratize Uganda’s stock market. This innovation is the first of its kind in Uganda and it is envisaged to simplify the process of opening an SCD account, which is a requirement for individual investors to participate in the securities market. While launching the digitalised SCD account opening service in a joint press conference between USE and MTN Mobile Money at the Kampala Serena Hotel, Paul Bwiso, the Chief Executive Officer, Uganda Securities Exchange noted that the new digital SCD account opening platform will bolster participation of the everyday Ugandan in the country’s stock market as more people will be able to open their SCD accounts remotely and subsequently be able to invest in any of the companies and debt instruments listed on the USE. The Uganda Securities Exchange CEO, Mr. Paul Bwiso stated that since embarking on its digital transformation...