Capital Markets in Uganda

Stuart Cohn and Fred Zake
Publication date: Fall 1998

This book, the first publication to emanate from the work of the ILI-ACLE, is a clear and concise explanation of Uganda's capital market and its operation, from legal, regulatory, and practical aspects. As such, it is an indispensable guide for all who are involved in the on-going process of developing, and participating in, Uganda's capital market -- company directors and officers, leaders of trade and other non-government organizations, lawyers, accountants, government officials, exchange and regulatory personnel, market analysts, and investors.

The authors begin by describing the general nature of a capital-market system, before focusing on the institutions, operation, and legal and regulatory structure that comprise the Uganda capital market. Problem areas are discussed where there may be concerns regarding the interpretation or effect of certain measures. The book concludes with suggestions for potential areas of reform, touching upon statutory coverage, disclosure issues, secondary-market trading, and liability concerns.

The extensive appendices include laws and regulations that are not readily available elsewhere. The appendices include all relevant sections of the The Companies Act and The Capital Markets Authority Statute of 1996, as well as the complete text of Capital Markets Authority regulations on prospectus requirements, licensing, conduct of business, accounting and financial requirements, registers of interests in securities, establishment of stock exchanges, and advertising.

The Institute welcomes publishing proposals on topics related to the legal and financial aspects of development in sub-Saharan Africa. They should be directed to Peter B. Whitten , Director of Publishing, at the Institute's headquarters in Washington.