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Trading in Ugandan government securities hits Sh451 billion
TURNOVER of Ugandan government securities traded in the secondary market surged to Sh451 billion in 2006, highlighting increased participation by offshore players and fund managers.
Stephen Kaboyo, the Central Bank's Deputy Director of Domestic Financial Markets, said of the Sh451 billion: "Sh310 billion was traded in Treasury Bills, while Sh141 billion was traded in Treasury Bonds."
This compares to less than Sh200 billion traded in Treasury Bills and Sh60 billion in Treasury Bonds in 2005. Kaboyo noted that there was a pick-up in the horizontal repo market, with volumes increasing to Sh81.5 billion last year from Sh50 billion in 2005.
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