Forex trading and the financial sector in Uganda
Uganda is a country situated in East-Central Africa with a potential of 42 million forex traders characterized by high diversity in terms of ethnicity and politics. As you may already know, its financial system consists of informal, formal, and semi formal institutions. Insurance companies, banks, and capital markets are examples of formal institutions, while loan associations and village savings stand for informal institutions, obviously.
Nowadays 62% of the population of Uganda still doesn’t have access to financial services and only 33% of individuals in this country hold accounts in banks. Nonetheless, this region suffers both legal restrictions and low capitalization, yet it still has a well-developed microfinance industry.
Moreover, the rural and micro-enterprise sectors account f...