The Uganda Securities Exchange (USE) team is set for a strategic boost following the appointment of Dan Tumuramye as a new Director to its Board.
His nomination, appointment, and official reception occurred during an Extraordinary Meeting held on Thursday, July 3rd, 2025, attended by the Board Chairman, Mr. Richard Byarugaba, and the Shareholders.
Tumuramye’s entry into the USE Board is anticipated to inject fresh perspectives and accelerate the exchange’s ongoing efforts to deepen capital markets, drive digitalisation, and enhance investor participation.
His extensive background, particularly in digital payments and expanding access to financial services, aligns perfectly with the USE’s strategic direction as it navigates a dynamic economic landscape.
Upon his appointment, Tumuramye expressed profound gratitude to Mr. Byarugaba, the entire USE Board, and the shareholders for entrusting him with this pivotal position.
He affirmed his commitment to making a “meaningful impact” at USE during his tenure, a promise that resonates with the exchange’s ambitious growth agenda.
Strategic Addition to the Board’s Expertise
Tumuramye is a seasoned professional with over a decade of experience in the telecommunications and insuretech ecosystems, with a notable focus on digital payments and technology.
Before joining the USE Board, he served as the Country Director for Chipper Cash Uganda, a role in which he was instrumental in democratising access to global stock markets for average Ugandans, enabling investments as low as US$1.
His previous roles include Lead, Merchant Business at Airtel Uganda, where he developed and implemented merchant acquisition strategies, and as Chief Digital Officer at Bank of Africa Group in Morocco. He holds an MBA from Symbiosis International University (India), a B.Com (Hons) Degree, and a certificate in Digital Money.
This blend of experience in digital financial services, mobile money, and expanding financial inclusion on a large scale makes Tumuramye an invaluable asset to the USE Board, especially as it seeks to broaden its investor base and integrate technology into its operations.
What This Appointment Means for USE
He brings to the USE team exceptional leadership and professional skills that are bound to benefit the exchange in various ways, among them;
Accelerated Digital Transformation
Tumuramye’s deep expertise as a Chief Digital Officer and his work in digital payments platforms are perfectly aligned with the global trend of digitising stock exchanges.
His presence on the board is expected to fast-track the USE’s digital initiatives, potentially leading to more accessible trading platforms, improved digital infrastructure, and enhanced investor onboarding processes. This is crucial for attracting a new generation of tech-savvy investors.
Financial Inclusion and Market Deepening
Having been at the forefront of enabling fractional share investing for ordinary Ugandans through Chipper Cash, Tumuramye brings invaluable insights into lowering barriers to entry for retail investors.
His appointment signals the USE’s commitment to expanding financial inclusion, attracting more domestic capital, and popularising stock market participation beyond traditional institutional investors.
This directly supports the Ministry of Finance, Planning, and Economic Development’s vision for a competitive economy and the “Pursuit of 10-Fold Growth” outlined in the Fiscal Year 2025/26 – 2029/30 Strategic Plan, which emphasises digitalisation and the monetisation of the economy.
Alignment with National Development Goals
The government’s broader economic agenda, according to the Ministry of Finance, prioritises capital market development, private sector investment, and digitalisation.
Tumuramye’s ability to scale financial products and services, particularly for a wider demographic, will be instrumental in aligning the USE’s strategies with these national objectives, contributing to a more robust and inclusive financial sector.
Innovation in Product Development
His background in driving new business models and product innovation within digital finance positions him to contribute significantly to the development of new, relevant financial instruments and services offered by the USE. This could include exploring innovative listing avenues or trading mechanisms that cater to modern market demands.
Bolstering Governance and Strategic Oversight
As a Director, Tumuramye will contribute to the overall governance and strategic direction of the USE. His experience from high-growth fintech environments will provide a unique perspective on risk management, market integrity, and fostering a robust regulatory environment, aspects that the USE continuously aims to strengthen, as evidenced by its recent amendments to the USE Rules 2025.
His appointment to the USE Board thus represents a forward-thinking step by the USE under the leadership of Chairman Byarugaba.
It underscores a clear intent to leverage cutting-edge financial technology and expand market access, ensuring the exchange remains at the forefront of Uganda’s economic development.