If you want to invest in shares in Uganda, one of the first questions is:
Which companies can I actually invest in?
Through Level Africa, investors can access a range of securities listed on the Uganda Securities Exchange (USE).
These include companies across telecommunications, banking, manufacturing, insurance, media and other sectors, giving investors different ways to participate in the stock market in Uganda.
This guide looks at the shares currently accessible through Level Africa, their latest quoted prices and what to consider before choosing a company to invest in.
What Companies Can You Buy Shares in Uganda?
As of 8 September 2026, the following USE-listed securities are accessible through Level Africa:
| Security | Latest Rate |
|---|---|
| Airtel Uganda Limited | UGX 177.00 |
| Bank of Baroda Uganda | UGX 66.00 |
| British American Tobacco Uganda | UGX 11,500.00 |
| Centum Investment Company Ltd | UGX 533.45 |
| DFCU | UGX 337.00 |
| East African Breweries Limited | UGX 8,652.08 |
| Equity Bank Limited | UGX 3,069.15 |
| KCB Group | UGX 2,857.23 |
| Kenya Airways | UGX 167.20 |
| MTN Uganda Limited | UGX 435.00 |
| Nation Media Group | UGX 483.76 |
| National Insurance Corporation | UGX 10.20 |
| New Vision Printing and Publishing Company Ltd | UGX 145.00 |
| Quality Chemical Industries Limited | UGX 160.00 |
| Stanbic Bank Uganda | UGX 101.00 |
| Uganda Clays Limited | UGX 8.40 |
| Umeme Limited | UGX 63.00 |
Prices shown are the latest rates available as of 8 September 2026. Market prices can change.
All of these USE-listed securities can be accessed in UGX through Level Africa.
Uganda Companies You Can Invest In
Several well-known Ugandan companies are represented among the securities available through Level Africa.
Airtel Uganda Limited
Latest rate: UGX 177
Airtel Uganda gives investors exposure to Uganda’s telecommunications sector.
If you buy Airtel Uganda shares, you become a shareholder in the company and your investment can potentially benefit from share-price appreciation and dividends where declared.
Before investing, consider the company’s financial performance, profitability, subscriber growth, competitive position and valuation.
Airtel Uganda shares are available through Level Africa.
MTN Uganda Limited
Latest rate: UGX 435
MTN Uganda provides another opportunity to invest in Uganda’s telecommunications industry.
Both MTN Uganda and Airtel Uganda operate in the same broad sector, but that doesn’t make their shares interchangeable.
Their financial performance, valuations, dividends and future prospects can differ.
Investors should therefore assess each company individually rather than choosing based only on brand familiarity.
Banks You Can Buy Shares In
The USE also provides access to several banking and financial-sector securities.
Through Level Africa, these include:
Stanbic Bank Uganda
Latest rate: UGX 101
Stanbic Bank Uganda provides investors with exposure to Uganda’s banking sector.
When considering bank shares, investors can look at factors including profitability, loan growth, asset quality, dividends and the broader economic environment.
DFCU
Latest rate: UGX 337
DFCU provides another way to invest in Uganda’s financial sector.
Investors considering DFCU shares should look at the underlying business and its financial performance rather than making a decision based solely on its current market price.
Bank of Baroda Uganda
Latest rate: UGX 66
Bank of Baroda Uganda is another banking security accessible through Level Africa.
Its UGX 66 quoted price doesn’t automatically mean it is cheaper than Stanbic at UGX 101 or DFCU at UGX 337.
The price of one share isn’t enough to determine the value of an entire company.
Other Ugandan Shares Available Through Level Africa
The opportunities aren’t limited to telecommunications and banking.
British American Tobacco Uganda
Latest rate: UGX 11,500
British American Tobacco Uganda is among the USE securities available through Level Africa.
At UGX 11,500 per share as of 8 September 2026, its quoted share price is considerably higher than many other securities on the list.
However, a higher price per share doesn’t automatically mean the investment is more expensive on a valuation basis.
Quality Chemical Industries Limited
Latest rate: UGX 160
Quality Chemical Industries gives investors exposure to a different part of Uganda’s economy.
Before investing, consider the company’s business, financial performance, competitive environment and longer-term prospects.
Uganda Clays Limited
Latest rate: UGX 8.40
Uganda Clays is one of the lowest-priced securities on the list on a per-share basis.
This makes it a useful example of an important investing principle:
A low share price doesn’t automatically mean a stock is cheap.
The value of the underlying company matters more than the price of one individual share.
National Insurance Corporation
Latest rate: UGX 10.20
National Insurance Corporation gives investors exposure to the insurance sector.
Again, its relatively low per-share price shouldn’t be the primary reason for investing.
New Vision Printing and Publishing Company Ltd
Latest rate: UGX 145
New Vision provides exposure to the media sector.
Investors considering media companies should understand how factors such as advertising, digital consumption and changing audience behaviour may affect the underlying business.
Umeme Limited
Latest rate: UGX 63
Umeme Limited is also currently among the securities accessible through Level Africa.
As with any listed company, investors should consider the company’s current circumstances, financial information and future outlook before making an investment decision.
Cross-Listed Shares Available in Uganda
The Uganda Securities Exchange also provides access to securities from companies operating across the East African region.
Through Level Africa, these currently include:
| Security | Latest Rate |
|---|---|
| Centum Investment Company Ltd | UGX 533.45 |
| East African Breweries Limited | UGX 8,652.08 |
| Equity Bank Limited | UGX 3,069.15 |
| KCB Group | UGX 2,857.23 |
| Kenya Airways | UGX 167.20 |
| Nation Media Group | UGX 483.76 |
This gives investors another way to diversify beyond companies whose operations are concentrated primarily in Uganda.
What Are the Best Companies to Buy Shares in Uganda?
There isn’t one company that is automatically the best investment for everyone.
A more useful approach is to compare companies based on what you’re trying to achieve.
Here are some factors to consider.
Financial Performance
How much revenue and profit is the company generating?
Is profitability improving or deteriorating?
Looking at several years of financial information can provide more context than looking at one reporting period.
Dividends
Some investors specifically want companies that distribute part of their profits as dividends.
If dividend income matters to you, consider the company’s dividend history alongside its ability to continue generating profits and cash.
Past dividends don’t guarantee future payments.
Growth
Consider what could cause the company to become larger or more profitable over time.
Also consider what could prevent that growth.
Industry
Different companies expose your money to different economic factors.
A telecommunications company faces different risks from a bank, manufacturer, airline or media business.
Valuation
The quality of the company and the price you pay for its shares are two different things.
A strong company can still be expensive relative to its earnings or prospects.
Liquidity
Some shares may trade more frequently than others.
This can affect how easily you’re able to buy or sell shares at a particular price.
What Are the Cheapest Shares in Uganda?
Looking only at the quoted price per share, some of the lowest-priced securities available through Level Africa as of 8 September 2026 include:
| Security | Latest Rate |
|---|---|
| Uganda Clays | UGX 8.40 |
| National Insurance Corporation | UGX 10.20 |
| Umeme | UGX 63.00 |
| Bank of Baroda Uganda | UGX 66.00 |
| Stanbic Bank Uganda | UGX 101.00 |
| New Vision | UGX 145.00 |
| Quality Chemical Industries | UGX 160.00 |
| Kenya Airways | UGX 167.20 |
| Airtel Uganda | UGX 177.00 |
But this shouldn’t be interpreted as a ranking of the cheapest companies.
There’s an important difference between:
a low share price
and
an undervalued company.
A UGX 10 share can potentially be expensive relative to the underlying company, while a UGX 10,000 share can potentially be reasonably valued.
The share price alone doesn’t answer that question.
Dividend Stocks in Uganda
Another common reason people invest in shares is to potentially receive dividends.
A dividend is a distribution a company makes to shareholders from its profits or reserves.
If dividend income is part of your investment goal, consider:
- the company’s dividend history
- profitability
- cash generation
- financial position
- sustainability of previous payouts
- future capital requirements
Don’t choose a company simply because it paid a large dividend in one particular year.
Companies can increase, reduce, suspend or stop dividend payments.
Should You Buy Shares in One Company or Several?
You don’t have to put your entire equity investment into one company.
Suppose you invest everything into a telecommunications company.
Your portfolio becomes heavily exposed to that company and the telecommunications sector.
Alternatively, an investor could spread their equity exposure across areas such as:
Telecommunications
Airtel Uganda and MTN Uganda.
Banking
Stanbic Bank Uganda, DFCU, Bank of Baroda Uganda and available cross-listed banks.
Manufacturing and Industry
Companies such as Uganda Clays and Quality Chemical Industries.
Insurance
National Insurance Corporation.
Media
New Vision and Nation Media Group.
Diversification doesn’t eliminate risk, but it can reduce dependence on the performance of one company or sector.
Shares Aren't Your Only Investment Option
Investing in companies can form one part of a broader portfolio.
Through Level Africa, investors can also explore other investment categories such as:
Treasury Bonds
Government securities that provide coupon income according to the terms of the bond.
Unit Trusts
Professionally managed pooled investments with options starting from relatively accessible amounts.
Fixed Income
Income-generating investment opportunities available in UGX and USD.
This means an investor can diversify not only between companies but also between different types of investments.
How Much Money Do You Need to Buy Shares in Uganda?
The amount required depends on the security you’re buying, its current market price, the number of shares you want and applicable transaction requirements.
Because market prices change, the figures shown in this article shouldn’t be treated as permanent prices.
Check the latest available market information through Level Africa before investing.
How to Buy Shares Through Level Africa
If you identify a USE-listed company you want to invest in, you can start through Level Africa.
1. Create & Verify
Create your Level Africa account and complete verification.
2. Fund Your Wallet
Add the money you intend to invest.
3. Choose a Security
Explore the USE-listed securities available on Level Africa.
Review the company and latest available market information before choosing.
4. Invest & Track
Complete your investment and continue monitoring your holdings over time.
Explore Companies You Can Invest In Through Level Africa
The Uganda Securities Exchange gives investors access to companies across different parts of the economy.
Through Level Africa, you can explore securities including MTN Uganda, Airtel Uganda, Stanbic Bank Uganda, DFCU, Bank of Baroda Uganda, British American Tobacco Uganda and others.
Rather than choosing a company based only on its name or share price, understand the business, evaluate the investment and consider how it fits within your wider portfolio.
Then invest through Level Africa.
Frequently Asked Questions
What companies can I buy shares in Uganda?
Through Level Africa, investors can currently access securities including Airtel Uganda, MTN Uganda, Stanbic Bank Uganda, DFCU, Bank of Baroda Uganda, British American Tobacco Uganda, Quality Chemical Industries, Uganda Clays, National Insurance Corporation and New Vision, alongside several cross-listed securities.
What are the best companies to buy shares in Uganda?
There isn’t one company that is automatically best for every investor. Consider financial performance, valuation, dividends, growth prospects, industry exposure and investment risk before choosing.
Where can I buy shares in Uganda?
Level Africa provides investors with digital access to a range of securities listed on the Uganda Securities Exchange.
Can I buy Airtel Uganda shares?
Yes. Airtel Uganda Limited is currently accessible through Level Africa.
Can I buy MTN Uganda shares?
Yes. MTN Uganda Limited is currently accessible through Level Africa.
Can I buy Stanbic Bank Uganda shares?
Yes. Stanbic Bank Uganda is among the USE-listed securities currently accessible through Level Africa.
What are the cheapest shares in Uganda?
Several USE securities have relatively low prices per share, but a low share price doesn’t mean the underlying company is undervalued or represents a better investment.
Which shares pay dividends in Uganda?
Listed companies may declare dividends for qualifying shareholders. Investors interested in dividend income should review each company’s dividend history and current financial information rather than assuming future dividends based on previous payments.
Can share prices fall?
Yes. Share prices can increase or decrease, and investors can lose money.