Housing Finance Bank has officially unveiled the ” Invest On The Go” Government Securities Portal, a platform that allows users to invest in treasury bills and bonds on the go.
The launched was announced on Tuesday morning at an event held at the Mestil Hotel and Residences in the capital 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.
With an aim of extending and easing access to financial services for all Ugandans, regardless of where they are domiciled, The Housing Finance Bank Securities Portal is the first of its kind in Uganda and is among the bank’s latest innovations.
The innovation enables customers invest in Treasury Bills and Bonds, from as low as Ugx. 100,000 and from the comfort of their homes or offices, without having to go to the banking hall.
“What you just witnessed here is a 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, Mr. Michael K. Mugabi, the Managing Director at Housing Finance Bank while speaking at the launch of the portal.
He furthered 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.”, concluded Mr. Michael K.
In his words, while delivering his remarks 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.
Nadia Mindra, the Treasury Manager at Housing Finance Bank then did a live demo of how the portal works, right from visiting the bank’s website to the final stage, till one is able to be rewarded with their investment; depending on its type.
“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 through the launch of this online investment portal wish to live up to its promise as a bank. The promise of continuing to make customer interaction with the bank easy and convenient.
“The portal is a testament to our commitment to convenience. What is even more interesting is that you can invest in Treasury Bills and Bonds from as low as Ugx. 100,000 seamlessly and comfortably from wherever you are, be it in a farm or in the diaspora.
The launch of the Housing Finance Bank 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.