Monday, May 29, 2023
Home > Banking > Housing Finance Bank Launches An Online Gov’t Securities Portal That Allows Customers To Invest On The Go, The 1st Of A Kind In Uganda’s Banking Industry

Housing Finance Bank Launches An Online Gov’t Securities Portal That Allows Customers To Invest On The Go, The 1st Of A Kind In Uganda’s Banking Industry

Housing Finance Bank stakeholders in a group photo to commemorate the launch of Government Securities Portal

Housing Finance Bank Tuesday officially launched its Government Securities Portal with a campaign dubbed” Invest On The Go”. The launch took place  at Mestil Hotel and Residences, Kampala.

The online portal, which is housed on the Bank’s website allows customers to buy Treasury Bills and Bonds from anywhere, at any time.

The Housing Finance Bank Securities Portal is the first of its kind in Uganda and is among the bank’s latest innovations, aimed at extending and easing access to financial services for all Ugandans, regardless of where they are domiciled.

Customers can now invest in Treasury Bills and Bonds, from as low as Ug.Shs 100,000, in the comfort of their homes or offices, without having to go to the banking hall.

“What you just witnessed here is the Bank empowering its customers with one of the many digital investment options. That is what banking is coming to. It comes down to a customer who is empowered in terms of knowledge, information, financial opportunities, and prospects,” said Michael K. Mugabi, the Managing Director at Housing Finance Bank.

In addition to this, he added that customers will be able to interact with the Bank conveniently and seamlessly through this portal to purchase Treasury Bills and Bonds from the comfort of their locations, without any paperwork or having to make a trip to the branch.”

Treasury Bills and Bonds are risk-free, predictable, have no value loss, and are good for individuals looking to make long-term savings. They are also a good way for one to diversify their investments and generate a steady stream of income through periodic interest payments.

Speaking at the event, Dr. Charles Abuka, the Executive Director, Operations at Bank of Uganda, said that the Central Bank is interested in financial markets because of a very simple reason. The only sure way to alienate poverty is for a country to widen and deepen its financial markets.

“This new online portal by Housing Finance Bank will further contribute to this market development by easing registration – which we want to see, easing bidding and trading processes for banks, clients, and government securities, as well as moving away from the old system of manual forms and submitting them to the bank,” he added.

The Executive Director and Chief Business Officer at Housing Finance Bank, Peace K. Ayebazibwe, who was also present at the event said that customers can now invest comfortably from wherever they are, be it in a farm or in the diaspora. They can buy Treasury Bills and Bonds seamlessly and conveniently through the portal.

The launch of the HFB government securities online portal is in line with Housing Finance Bank’s mission to enable home ownership and financial independence for all Ugandans. Through the portal, Ugandans can now Invest On The Go and take charge of their finances.

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