Centenary Bank has entered Uganda’s fast-growing investment services market after securing custodial licenses from the Capital Markets Authority and the Uganda Retirement Benefits Regulatory Authority, positioning itself as a key player in asset protection and institutional investment infrastructure.
The move marks a significant expansion for the bank and introduces a new layer of confidence for pension funds, fund managers and private investors seeking secure, compliant asset custody solutions.
A Strategic Shift in Uganda’s Investment Landscape
With Uganda’s capital markets steadily evolving, custody services are becoming critical in ensuring transparency, accountability and investor protection.
Centenary Bank’s entry into the segment signals growing sophistication in the financial sector, where custody is no longer limited to safekeeping but is increasingly seen as a backbone for investment growth.
The bank will provide custody for a wide range of assets, including government securities such as Treasury Bills and Bonds, equities listed on the Uganda Securities Exchange, unit trusts and retirement scheme funds.
Why Custody Matters for Investors
Custodians play a critical role in separating asset ownership from investment decision-making, ensuring checks and balances within the financial system.
Under this model, fund managers make investment decisions, while Centenary Bank safeguards the assets—reducing risks of mismanagement and improving governance standards across the industry.
Technology and Scale at the Core
Centenary Bank is leveraging automation to differentiate its offering, deploying digital custodial systems that provide real-time portfolio visibility and reporting.
Clients—including trustees and institutional investors—will have access to dashboards that track asset performance and valuations on a daily, weekly or monthly basis.
The bank is also capitalising on its nationwide footprint, one of the largest in Uganda, to provide accessible support to clients across both urban and rural markets.
Built for Institutional and Private Investors
The custody service targets a wide spectrum of clients:
- Retirement benefit schemes
- Fund managers
- High-net-worth individuals
According to the bank, all client assets will be held in segregated accounts, ensuring full ownership and protection, while automated workflows are expected to reduce operational risks and errors.
Raising the Bar for Asset Security
Centenary Bank says its custody platform is backed by a team with over two decades of combined experience in investment administration and custody operations.
By combining regulatory compliance, technology and local expertise, the bank is positioning itself as a long-term financial partner for investors navigating Uganda’s expanding capital markets.
What This Means for the Market
The licensing milestone is expected to:
- Strengthen investor confidence
- Improve market transparency
- Support growth of retirement and collective investment schemes
For Uganda, this development aligns with broader efforts to deepen financial markets and mobilise long-term capital for economic growth.