BIS Review 114/2008  1  The Bank of Uganda is already contributing to this effort by licensing new banks, in order to introduce greater competition, with the hope that this will encourage the banks to extend their presence to the unbanked rural areas. I expect many other non-banking financial institutions such as insurance companies, microfinance institutions, securities exchange, etc. to follow suit.
Government will also be encouraged to divest its interests in the remaining parastatals in which it maintains ownership through public offerings in the stock exchange in order to widen the ownership of these institutions to the majority of Ugandans. The other crucial aspect which the 5-Year Financial Markets Development Plan is expected to address, is financial literacy.