Housing Finance Bank on Tuesday launched a Government Securities Portal that will allows customers to invest in government Treasury Bills and Bonds online.
The service dubbed “Invest On The Go” can be accessed on the bank’s website.
Speaking at the launch, Michael Mugabi, the bank’s Managing Director said the 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.
“We are a purpose driven bank and we exist to ensure home ownership and financial independence of our customers,” he said.
“We are constant challenging ourselves to offer more solutions to our customers so that they are empowered in terms of choice and financial progress”
According to Robert Nyegangane, the bank’s head of treasury, Customers can now invest in Treasury Bills and Bonds, from as low as Shs 100,000, in the comfort of their homes or offices, without having to go to the banking hall.
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, Ms. 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.