Mutual Fund/Unit Trusts/Collective Investment Schemes Investing in Uganda

This has been possible for quite a while.

Currently the only funds running are from African Alliance, but this does not mean they only invest
in companies on the USE, or the various bonds and bills in the country.

Some years back upon inquiring where they invest, I was told that information is only available to fund
investors. (yeah, chicken and egg, but I guess you can put in alittle and wait for the annual report!)

They have the following funds:
Fund
Balanced Income Fund (Initial Fee 5%)
High Yield Fund (2.5%)
Uganda Money Fund (?)

Contrast this with investment in individual stock were the commission is 2%.

Uganda Budget Financial Year 2008/2009

Was delivered yesterday.

Updates are at http://www.finance.go.ug or mores specifically at
http://www.finance.go.ug/budgets_background.php

These include the budget itself as well as a document with a background to the budget.

Budgets for previous years can be seen at the site.

There is no tax relief for companies listed on the exchange.

Privatised Unlisted companies to be sued

The following companies were to have offered to the public at least 10-20% of their holdings.

1. Uganda Telecom Limited. (lead advisor Data Bank Consortium)
2. Lake Victoria Hotel.
3. Apollo Hotel
4. Barclays Bank
5. Tororo Cement Works
6. National Insurance Corporation
7. Kakira Sugar Works
8. Kinyara Sugar
9. Uganda Grain Milling (now insolvent)

This would raise the number of local listed companies from 6 to 15.

The director of the privatisation unit has asked the solicitor general to seek legal redress
to ensure that these companies list according to the east african.

I wonder how this will proceed.

With the budget coming up in a couple of weeks or less, the best way forward would be to give tax incentives
to companies that list on the exchange.