News

Approval of Treasury Bond sales via Mobile Money

25 February 2019 | Filed under: Press Releases

ALTX takes this opportunity to celebrate the recent announcement opening up Uganda’s bond market to Mobile Money subscribers. We applaud the Government, and Bank of Uganda (BOU), for joining ALTX in recognizing the potential of Mobile Money in our capital markets.


Over the last year, ALTX has accepted Mobile Money payments for the purchase of securities. We are proud to be the first entity to do so, with minimum investments starting at just Ugx. 10,000 a week. This is in line with our mission to create accessible, efficient and affordable investment opportunities for everyone in our community.


Along with leading the way on Mobile Money payments, ALTX is at the forefront of the following developments in the Uganda securities market:

 

  1. Introduced online securities account opening. Anyone can open a trading account from anywhere around the country (or the world).
  2. Initiated online account access for investors by developing the MyALTX platform.
  3. The first Ugandan exchange to offer Direct Market Access for individual investors. Allowing individuals to make their own trades with no need for a broker.
  4. Unparalleled ability to process 300,000 transactions PER SECOND.
  5. The first exchange in Africa (and the first in Uganda) to proudly offer same day (T+0) settlements.
  6. Launching the first Security Exchange Mobile App (ALTX Mobi) in East Africa. Enabling investors to complete the entire trading process remotely.
  7. Created ground-breaking products that allow investments from as low as Ugx. 10,000 thereby opening up securities to the consumer market.


Our innovations have delivered on a large part of the Uganda Capital Market Authority’s (CMA) Ten Year Development Master Plan (2016/2017) well ahead of CMA schedule. Our particular focus is on growing the local investor base. We will continue to drive towards our goal of enhancing financial inclusion in Uganda.


We invite all Mobile Money subscribers to join the securities revolution. Sign up now at https://www.altxafrica.com/sign-up/brokered-individuals and start investing at just Ugx. 10,000 a week.