Buying and selling of shares is not so much a common activity in Uganda. Many people are ignorant about how it is done. The moment people start explaining the terminologies used in stock markets, they automatically switch off. But with MTN Uganda, there is a better way for anyone to share in the fortune of stock markets in Uganda.
Uganda security exchange is the institution in charge of stock markets in Uganda. Any company that is interested in selling its shares in Uganda gets listed on the Uganda security exchange list of course after meeting the requirements. However you cannot buy shares directly from the listed companies, you need to go through a stock broker. But before choosing a stock broker to help you buy and sell shares; you need to open up a Security central depository account.
That is where MTN Uganda comes in to solve the initial challenge of getting a security central depository account. This is the kind of account where the shares you have bought a kept. It is like a bank account for shares.
How to start/Open Up An Account For Stock Markets
Grab your phone and dial *165*65# (that is if you are an MTN customer) and select option 1 (Apply for SCD Account).
You will be required to key in your NIN (National identification number). Once you key in your NIN, you will be taken to the menu having a number of stock brokers. The stock broker is the agency that will handle your buying and selling of shares.
After selecting your stock broker, you will have to consent to the terms and conditions of service. (You will have to select option one to consent to the terms and conditions)
Upon consenting to the terms and conditions, you will be required to key in your mobile money pin. Once you key in your mobile money pin, you will receive a confirmation message for the opening of your Security central depository account.
How To Buy And Sell Shares
Once you have the account in place, you will only have to keep in touch with your stock broker regularly. They will advise you about when to buy and sell shares. That is all it takes for you to start buying shares