BY EABW REPORTER
KAMPALA, Uganda-In a bid to build capacity among market practitioners, ACI Uganda - the Financial Markets Association has started in house trainings which are focused on making sure all traders are on the same level in regard to trade in Treasury bond.
The Financial markets in Uganda have been developing over the years with an increase in the number of instruments coming into the market. However, there’s need to enhance competitiveness among players and one such initiative was a training in Treasury bonds that took place recently.
“As a market the only way we are going to develop is if we skill up our people. And as such, ACI Uganda aims to equip market players with the necessary trainings needed for them to execute their jobs well,” said Benoni Okwenje, the Chairperson of the ACI Financial Markets Association and Fixed Income Trader at Stanbic Bank Uganda.
“We have some older and more experienced traders who understand the products in the market and are able to pass on this knowledge.” Okwenje added.
He said ACI Uganda has planned a good number of activities this year to develop capacity among its members, which will be achieved through an emphasis on training and networking.
The training in Treasury bonds, which was held at Golf Course Hotel on Friday, was on a general overview as well as pricing of these instruments.
Though the Ugandan financial market has 24 commercial banks that trade on a daily basis, one of the challenges that affects market development is the variable levels of training and exposure amongst its players.
Due to the critical importance of the treasury function to the overall financial system, Bank of Uganda (BOU) requires all staff in commercial bank treasury departments to be certified by attaining the ACI dealing certificate.
Bank of Uganda has talked about the importance of increasing secondary market activity in Treasury bonds and Treasury bills, so initiatives like the training in Treasury bonds will go a long way in helping to achieve this.