With high expectations from banks towards secondary market development for the next three years in government securities by primary dealer market makers, the Bank of Uganda has approved only seven commercial banks as Primary Dealer Market Makers for the period October 1, 2026, to September 30, 2029.
A well-functioning primary market for government securities is essential for the orderly funding of government financing requirements, the foundation for a secondary market, and a source of price (interest rate) signals in many less-developed markets. The government has the responsibility for establishing a primary market.