Uganda is planning to issue corporate bonds in the coming financial year to raise new capital for state-owned enterprises and reinvigorate the moribund corporate bond market, even in the face of lack of credit ratings for many public-sector companies.
The funds raised will be invested in long-term projects approved by the government, in a move likely to ease mounting pressures on the treasury over the financing of several investments in the transport, energy, education, health, science and technology sectors, in line with fresh National Development Plan (NDP).
