A law to allow movable assets as collateral has been passed. However, legal uncertainty over property rights and lengthy proceedings to recover collateral continue to weigh down on banks’ credit risks. The stock market remains largely untapped with only 9 listings of domestic companies and rather limited trading in the shares of those that are listed.
On a more positive note, around 85 per cent of Ugandans have access to financial services, including through mobile money. The BoU together with other stakeholders is implementing a five-year financial inclusion strategy so as to improve financial literacy, develop the credit infrastructure and promote formal savings, investment, and insurance while ensuring consumer protection.