How Do I Create/Get a CDS Account?
Part 2/15: A Beginner’s Guide to Investing in Treasury Bonds & Bills
To start investing in treasury bills or bonds, you first need to open a CDS (Central Depository System) account. It’s free, simple and doesn’t take much time. Here’s how you can do it:
Step 1: Choose a Bank
You can’t open a CDS account directly with the Bank of Uganda. Instead, you’ll need to go through a commercial bank that is an approved primary dealer. The approved primary dealers in Uganda as at the time of this writing are ABSA, Centenary Bank, Citibank, DFCU Bank, Equity Bank, Housing Finance Bank, Stanbic Bank, and Standard Chartered Bank.
Step 2: Fill Out the Forms
Visit your chosen bank and ask for a CDS account opening form. You’ll need to provide:
A valid National ID (for Ugandans) or Passport (for foreigners)
A passport-size photo
Your Tax Identification Number (TIN)
Bank account details
Step 3: Wait for Approval
Once you submit your application, the bank forwards it to the Bank of Uganda, which processes and activates your CDS account. This usually takes a few days. Once approved, you’ll receive your CDS account number, which you’ll use to buy and sell government securities.
And that’s it! You’re now ready to start investing in treasury bills and bonds.
Stay tuned for our next guide on understanding treasury bills.
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