Crested Capital, the brokerage firm, was awarded the “Broker of the Year” award at the Uganda Securities Exchange 20th anniversary celebrations for its strong performance in the deals and volumes contributed to the exchange in 2017 according to market statistics generated from the Automated Trading System.
This is the first broker of the year award and sets a high standard for other members of the Uganda Securities Exchange.
Crested Capital also took home the “Client Origination Award” for the broker who raised the most brand awareness for the exchange and the capital markets as whole, facilitated new entries into the market, improved market share and enhanced customer loyalty.
The client origination award also takes into account the different methods Crested Capital used to improve relations with investors such as the use of social media, breakfasts, reports, updates, as well as outreaches and road shows to increase its client base.
Bank of Uganda’s deputy governor, Louis Kasekende, the guest of honour at the event said: “We recognize the important contribution which the USE is making to the development of the financial system and the economy in Uganda and wish you every success for the future.”
He added: “Unfortunately, it is proving very difficult to attract companies to issue securities on the Exchange. It would be useful to see more research into the obstacles that deter companies from listing so that we are able to formulate realistic policy solutions”.
The Crested Capital chief executive, Robert Baldwin, welcomed Mr Kasekende’s comments and noted that last week’s direct listing of the tech-company SPOTIFY ($26.5 bn) at the New York Stock Exchange could be a solution to structural impediments we face in the Uganda market that has had a lack of IPOs.
“I also look forward to deeper engagement between Bank of Uganda and the Uganda Securities Exchange, particularly for secondary market trading of government securities at the Exchange,” Mr Balwin said.
Meanwhile, Thelma Awori, the chairman of the board at Crested Capital said the “multiple awards are a testimony to the focus, commitment, and hard work of Crested Capital’s entire team.
“It’s a pleasure to work with a group that applies such enthusiasm, generosity, and skill to developing Uganda’s capital markets. It comes as no surprise that the team is highly successful at whatever it sets out to achieve.”
About Crested Capital
Crested Capital are Members of the Uganda Securities Exchange licensed by the Capital Markets Authority to provide non-bank financial services including investment advisory, research and publications, brokerage, and dealing in equities and government securities.