The High Court, on Thursday, 19th December 2019 stopped Capital Markets Authority (CMA) from cancelling the license of ALTX East Africa Limited. Launched in 2014, by Joseph Kitamirike, the former CEO of Uganda Securities Exchange, ALTX is Uganda’s first automated stock brokerage service that did not require prospective investors to go through stock brokers, but instead offered digital channels such as mobile phones and the internet to buy and sell shares. On 25 February 2019, ALTX announced that it had pioneered mobile money payments for the purchase of securities, allowing investors to invest for as little as UGX10,000 a…
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