CMA Assures Stakeholders of Business Continuity Despite COVID-19 Scare

Following the guidance by the Ministry of Health and directives issued by H. E the President on the COVID 19 pandemic (Corona virus), the Capital Markets Authority (CMA) wishes to inform all its stakeholders that we are taking this matter seriously and as such, wish to reiterate that all preventive measures that have been instituted MUST be strictly adhered to.

It is true that fears of the corona virus impact on the global economy have rocked markets worldwide, leading to panic and fear among investors. Whereas Uganda has not yet recorded any COVID 19 case so far, our economies, particularly as a region, some of which have already been hit by the pandemic are interdependent and therefore the effects will filter through in the long run.

The Authority is therefore working closely with all regulated entities to ensure that as they go about operating their businesses of enabling the public access the capital markets, they observe all the standard operating procedures issued by Government, as referenced by the President in his address.

On the other hand, CMA has instituted measures to continue monitoring market activity with the overall objective of ensuring investor protection.

We encourage potential and existing issuers, investors, intermediaries, suppliers,media, and other stakeholders to limit physical interactions and engage with us through our online platforms for any matters which will require our attention or resolution. That notwithstanding, our offices will remain open unless advised otherwise.

Additionally,the public is informed that in line with the presidential directive on public gatherings, all public functions of the capital markets, including public education outreaches to potential investors under the Investor Resource Persons programme have been suspended for the next thirty days.

CMA remains committed to serving you and protecting investors in the capital markets, as stipulated by our mandate.

Ends….

About CMA

CMA is a Government regulatory body established by an Act of Parliament, the “CMA Act, Cap 84”. The authority is mandated to regulate and promote the development of capital markets in Uganda, with the overall objective of investor protection. CMA is a member of the East African Securities Regulatory Authorities and an Appendix A member of the International Organization of Securities Commissions, a global standards setting body for securities regulators.

Promoting confidence in the capital markets

Ensuring honesty and transparency in capital markets transactions

Carrying out investor education

Protecting investors; and

Reducing systemic risk

Ensuring orderly, fair and equitable markets

Licensing players including collective investment schemes and brokers

Approving players including exchanges and securities central depositories

Guiding the securities industry

Protecting the integrity of the securities industry against abuses; among others

For inquiries, please contact:

Charles Nsamba

Email: cnsamba@cmauganda.co.ug

Tel: +256 – 414 – 342788

Mob: +256 – 712 – 353339

Twitter: @cnnsamba