The Capital Markets Authority (CMA) has licensed Xeno Technologies as the first Ugandan fund and four unit trust managers to make investing in financial markets accessible to everyone.
The fintech gives the user chance to invest in different goals such as wealth, education, house and income, among others with Shs400, 000 as the minimum investment.
The director market supervision at CMA Mr David Ogong, said people need to be educated on what kinds of investments to make. This will teach them how to appreciate risk and earnings generated from their investments.
“That is why we need licensed investment firms to guide people make informed investment decisions,” Mr Ogong said.