It has come to the attention of the Capital Markets Authority (CMA) that a private company known as Development Conglomerate Limited whose offices are located on Plot 127 Portbell Road, Kitintale, Kampala is marketing and selling shares to the general public in Uganda by the sale of tablets through a programme dubbed Uganda Poverty Alleviation Programme.
The marketing and sale are being done through printed material, their website and other fora by inviting members of the public to deposit funds on a mobile money account or cash to their offices and in turn receive a share certificate as proof of shareholding and monthly dividends for a life time.
CMA informs the public that Development Conglomerate Limited has NOT been granted approval by the Authority to sell shares to the public hence rendering their activities of sale of shares illegal. The Authority therefore wishes to caution the general public about buying shares in this company by whatever arrangement.
The public is reminded to always endeavor to establish if the companies with whom they entrust such investments are duly licensed and/ or approved by the relevant Authorities.
The public is further encouraged to report any suspicious organizations and/ or unlicensed entities that are involved in the business of marketing and selling shares and any other securities to the CMA through the address below:
The Director Market Supervision Capital Markets Authority P. O Box, 24565, Kampala Tel: 0414-342788/ 91 or 0312264950/1 Email: email@example.com Or through the whistle blowing tool on our website, www.cmauganda.co.ug