Responsibilities Of Man In The Family English Literature Essay

Responsibilities Of Man In The Family English Literature Essay Family is an assembly of people who have marital relationship and blood related individuals, living under the same roof. A group of many families living together is considered a society. In other words, family is a cell of a modern society. Each and every individual has the responsibility of building up a happy family. In the current world, the man plays a very special role which affects not only his current family but also later generations. There is a saying in Vietnamese: Men are the ones who build the house, while women are the one who create the home. We can see that the man is always the strong one, who does the heaviest work for his family. However, it does not mean that the mans role is just to support the family financially, building the house or providing settlement. In contrast, the man should also help the womans duties such as raising children or doing house works. In my opinion, being a man of the family is not a simple job because he has to use as much of his strength as possible to build up his family. Hence, it seems to be a difficult work for all men in the world. Marriage is a combination of the man and the woman, according to  Mignon McLaughlin, an American journalist and author, a successful marriage requires falling in love many times, always with the same person (Quotation #31121 from Laura Moncurs Motivational Quotations). To become the man of the family, firstly, he has to be a good husband. A good husband is the man who understands his wifes needs and wants. Any woman wants her husband to be a successful man and always share with her all problems in life. Zig Ziglar (also known as Hilary Hinton Ziglar) said: Many marriages would be better if the husband and the wife clearly understood that they are on the same side. For the Christians, when a man and a woman are getting married, they always promise to love each other forever and be side by side through sickness, poverty, even the hardest times of life. Therefore, we can easily see that love is the first requirement of being a husband. The husband needs to give his wife the love and to regard her like his most important property, not a maid for free in the house. Intense love, compassion, altruism, understanding from the husband is the thing woman wants the most. I think a man should open his mind to listen to his wife because thats one of the moral standards. Listening and understanding is always the important thing to do for his wife. According to Swedish Proverb, Shared joy is a double joy, and shared grief is half the grief. As we may know, a woman loves by eyes and ears, thus she will be very happy when she gets a good compliment from the husband. In addition, when the wife feels happy, she will do everything to make her family become happie r and happier. Therefore, I believe sharing with woman can help man build up a happy family much easier. Displaying your love and respect to your wife, the mother of your children, is a clear demonstration about how to love and respect important people in their lives. (Mark Greenfield, Becoming a perfect father) Dividing the responsibilities in a family depends on cultures. For example, it is common for some household that the husband is the only one who goes to work and gives financial support for the whole family, while the wife takes care of all the house works and raises children. Rarely, the husband will do some part of the chores when he feels like it. In this situation, the man of the family becomes the main financial provider. However, in some other families, many hard works such as fixing or maintaining the houses equipments can be done by paying a third party service. Hence, making money becomes the most important assignment that the man has to concentrate on. Because making money is a busy and tense work, a man sometimes forgets to do other activities with his wife and children such as: go to a base ball game, or spending an hour to help his wife washing the dishes. As a result, it is one of the reasons which make family members often separate from each other. Moreover, it is not a good situation at all and it must be changed. I personally think the man in the house must not only care about the financial support but also participate on other family activities. According to Dr. Phil McGraw, if men want to be successful in their marriage and family life, they have to change and broaden their definition of what it means to be successful as a man. Being a good provider, protector, leader and teacher is a privilege that comes with responsibilities that many men arent aware of.(The role of the man in the family) Nowadays, there are many women choose to be single mothers. They are confident that even when lacking the support of the men, they can still be able to live well, raising the children to become good people without the need of their childrens father. However, that will not give the children all the care they need, as a proverb in Vietnamese: the child without his/her father is like the house without its roof. On the other hand, the mother cannot teach her child all the skills that the childs father can do. No matter how masculine the woman is, there are always tasks that only men can do. How can she raise her son to become a real man, without the affection of all the feminine she has? And how can she give her precious girl a good imagine of the daughters future partner? They will just simply take all the trait of their only parent, thus hardening all the tasks on the mother, will may not relevant at early age, but become more clearly as they grow up. A life without a man in the family will cause many difficulties to the woman. As the result, she will have to do all the house works, while taking care of the kids and keeping the familys financial situation at an acceptable rate. How does she suppose to do all that jobs at the same time? If the woman is in a rich family, or she already has a well paying job, then the tasks can be less pressuring. However, those are only rare exceptions. In contrast, many single mothers having trouble balancing the duties all at once. Therefore, she will need a man to share all the weight on her shoulder in order to keep the family happy and affluent at all time. According to Census Bureau Reports, in 2006, 12.9 million families in the U.S. were headed by a single-parent, 80% of which were headed by a female. Single parent families are at a higher risk of poverty than couple families, and on average single mothers have poorer health than couple. Single parenting is strongly associated with an increas ed risk of a number of negative social, behavioral and emotional outcomes for children. Educating the kids is not an individual task. In contrast, must be done by both the parents. Children are extremely sensitive, and always eager to learn new things from the world. Every little thing from the outer environment will affect their perspective. In addition, it will decide the childrens behaviour when they grow up. They will just simply mimic all what they think that are interesting. However, the actions that the children try to mimic may not be all right. Supposedly there may be bad behaviours such as bullying or stealing. As time goes by, they will consider that those actions are the righteous, without regarding its true meaning. Therefore, parents always have to act as role model, not only while teaching their kid, but in everyday actions. Its similar to growing a tree, if we dont take care enough since it was a seed, the tree will not give out its expected juicy fruit. For example, considering a family of the sporty type, in which there are many sports activities are d one by both the father and the son. The boy will soon get the habit of doing sport, and keep practicing them when he grows up. Moreover, that man will spread his hobby to the next generation when he starts having family on his own. In the other hand, in the family of the arguing type, where parents always shout at each other, the children will be affected, and become mentally ill. That cycle will continue forever, until there are changes in the new family. However, that does not mean that any successful men can also success in being a father. Sometime, the man focuses his mind completely to his busy career, and then forgets his duty as a father. It will make some bad effects on the child. Therefore, I believe its important for the man to balance between his family and job. Closeness to fathers during childhood is positively related to adult daughters and sons educational and occupational mobility and their psychological adjustment and well-being. Amato, P.R. (1994) Father-child rela tions, mother-child relations, and offspring psychological well-being in early adulthood In my opinion, father plays an important role in affecting teenagers personality. For example, the girls always use their fathers images as the model for their boy friend or future husband. If the relationship between father and daughter is close and they often have conservations together, the girl will be more confident in choosing boyfriend. When the girl has better understanding of the opposite gender, she can avoid misunderstandings and unnecessary worries. As a female, when the girl gets dressed, she wants to be the centre of the attentions. Therefore, if the father can understand and commend on her dresses, it will affect to her way of dressing and living. In other hand, a boy always has his secret which is not easy to say out. In addition, he is easy to be influent by his friends bad habits. Therefore, if he has a good guider who encourages his mind and knowledge, he will be prevented from the wrong way in his life. Furthermore, the boy will be deeply getting his father charac ters effect. There is substantial involvement of fathers in a subset of this high-risk sample, although more than a quarter of the children lacked a father or father figure. The mere presence of a father did not significantly influence the neglect of the children; rather, the nature of his involvement did. Fathers who felt more effective as parents were less likely to have neglected their children. A greater sense of efficacy may reflect parenting skills and be important in enhancing the contribution of fathers to their childrens well-being. Dubowitz H., MD, MS; Black M.M., PhD; Kerr M.A., MS; 2000; Father and Child Neglect In conclusion, the man plays a very important role in the family. He has to fulfill the duty of not only the husband, the father but also the mental leader. As a husband, he has to understand and sympathy with his wife, his soul-mate. As a father, he has the responsibility to teach his son and daughter the skills needed to become good people. As a mental leader, he has to remain calm and strong in any situations. However, it is not easy to perform all those tasks perfectly simultaneously, but with a strong heart and a clear determination, nothing is impossible. BIBLIOGRAPHIES Dubowitz H., MD, MS; Black M.M., PhD; Kerr M.A., MS; 2000; Father and Child Neglect; Arch Pediatr Adolesc Med. 2000; pp.154:135-141 Nord, Christine Winquist, Father Involvement in Schools. ERIC Digets. Eirini Flouri and Ann Buchanan, The Role of Father Involvement and Mother Involvement in Adolescents Psychological Well-being, British Journal of Social Work (2003) Mignon McLaughlin, quotation #31121, from Laura Moncurs Motivational Quotations. Zig Ziglars famous quotation from: www.famous-quotes-and-quotations.com/ marriage-quotes.html Swedish Proverb, quotation from: http://en.wikiquote.org/wiki/Swedish_proverbs#S Amato, P.R. (1994) Father-child relations, mother-child relations, and offspring psychological well-being in early adulthood Bergman, Mike (March 27, 2007). Single-Parent Households Showed Little Variation Since 1994. U.S. Census Bureau. Retrieved 2009-08-31 Dr Phil McGraw, the role of the man in the family Mark Greenfield, becoming a perfect father

Black people in the USA in 1945 Essay

Blacks in the USA in 1945 were not considered as equal; the treatment of people was based on their skin colour, a practice that had been going on for many years before, even after the Reconstruction of society after the Civil War in which the blacks were â€Å"liberated† from slavery. In theory, blacks were free to work and live where they wanted, but the figures at the time told a different story: by 1960, around 17% of the workforce of â€Å"white-collar† workers, i.e. professional, technical, administration, etc., were blacks, while the whites remained the majority at 47%. The â€Å"blue-collar† work, such as craftsmen, manual labourers, etc. – jobs that are renowned for needing less skill and education – had 40% of the workforce as blacks, and 36% were whites. Blacks just weren’t provided the education and qualifications to do the professional types of work due to separation of black and white facilities. Not only were they held back at g etting the higher-class jobs, they were paid less for the same work that whites did; in 1950, blacks earned about 53% of a whites wage. This figure remained the same over the next 20 years, with it rising 11% to blacks earning 64% of a whites wage. All over the USA, blacks were discriminated against in almost all areas of life, whether it is the law of the state, or just by the custom of the local society. After the abolishment of slavery, slaves had the choice of moving away from their former homes and having their own lives; unfortunately, many blacks didn’t have any money to move halfway across the USA to the northern states that had fought to free them. Those who did have the finance to travel rarely had enough money afterwards to sustain a good quality of life after they had moved. The custom of de facto came into play in some of the Northern states; ghettos and places where the majority of the population were black sprung up in towns and cities. Segregation by custom in the North was contrasted with segregation by law, or de jure, in the South- Jim Crow laws forbade blacks, for example, to enter white facilities, or sit on buses with whites, etc. Places where de facto was in force came up with other ways to separate blacks from whites to keep the Southern order of things; â€Å"red lining† was when banks were not allowed to give money for mortgages if they suspected it would be a risky investment- if a black family moved into a certain area, it would lower the prices of the surrounding houses. This  meant that places such as ghettos were built up, when the majority of the population were black. This type of segregation wasn’t by law, but by custom, blacks weren’t forced to live in â€Å"black† areas, but they felt pressured to live in certain places because of the practises such as red lining in effect. Although it is in the Constitution that everyone is equal and has the same civil rights, it is beliefs like red lining that push a wedge between races; it may not seem constitutional, but it is up to the Supreme Court in the USA to decide what is constitutional. They decided that slavery was lawful mainly due the fact that the Southern states economy was based on slavery; they were needed to produce cotton, the main export in the 19th century. Without them, the economy would have fallen apart. After the 13th amendment to the Constitution, slavery was no longer legal, but the Supreme Court still remained to overlook state laws that continued discrimination and practices that could be seen as worse then slavery- for example, the Ku Klux Klan were allowed to terrorise and lynch blacks, yet lynching was not made illegal. â€Å"The Supreme Court declared that the 14th amendment forbids states, but not citizens, from discriminating† (1) Separate facilities for blacks and whites were considered as the solution to the discrimination problem; the Supreme Court believed that the blacks were â€Å"separate but equal† when they were forced to use different buildings, transport, schools and hospitals then the whites. Since the Supreme Court approved laws and could declare them unconstitutional if they wanted to, they were the ones who the blacks has to convince if they wanted to change anything; in legal cases, the trial had to be taken to the Supreme Court to have any impact, since the State Courts were always going to be in favour of the Jim Crow laws. The Plessy vs. Ferguson (1896) case was when Homer Plessy refused to sit in the â€Å"coloured† car of a train and sat in the â€Å"white† section instead. The case went to Supreme Court, and they ruled that Plessy was guilty and sentenced him to pay a fine or go to jail. This was considered the most shameful ruling of the Supreme Court in history; it shows the extent of the discrimination against blacks, even after slavery was abolished- even though Plessy was 1/8 black and 7/8 white, he was still considered as black in the eyes of the Louisiana law. Although many people thought that this ruling was  shocking, there wasn’t much that could be done, since they did not have a definite leader to show them what the do; everything that the movement did was relatively unorganised, with maybe one person leading the others. People such as Martin Luther King Jr. and Booker T. Washington tried to unite blacks under one leadership, but it did not work, because everyone has different opinion on what should be done about the discrimination problem. Dr Martin King Jr. was a black leader that advocated peaceful resistance; because of this, many whites accepted him because they knew that he would not cause violence, but blacks did not like this as peaceful protest could only take them so far- they felt that King was weaker then some of the other extremist black leaders, such as Malcolm X. King’s approach to fighting against their oppression wasn’t enough to keep the blacks following him; they preferred people who were willing to do more for the benefit of all blacks. Another leader who was thought as weak by fellow blacks was Booker T. Washington; he was accused of being an accommodationist to the whites, as he wasn’t campaigning for equal civil rights, he was concentrating on equal job opportunities- this wasn’t what the blacks were fighting for; they wanted to be free to do what the whites could do, not only in jobs but in other aspects of life too. The leaders of the movement were not united, therefore they were not strong- many leaders were critical of others, for example, W.E.B DuBois criticised Washington, saying that blacks cannot get social equality if they do not get political equality first. The New Deal is a phrase used to explain the actions taken after Black Tuesday when the US Stock market crashed to stop the effects of the Depression disturbing the lives of the public. Laws were passed to help stop the consequences of the Depression becoming a long-term problem; within the first hundred days, President Roosevelt passed a law that lowered worker’s salaries and pensions by up to 15%- a move that people did not like, yet it saved a lot of money for the government. Another act was passed that stated that the government could inspect banks before letting them open again so they could see if the bank was eligible to lend and hold money. This prevented banks lending out money that they did not have, therefore they did not losing money for their customers and wouldn’t have to close, as they  would have to have done if they did lend out money they didn’t have. The New Deal was produced so the government could help all of those that were affected by the Depression; this helped the blacks because they were some of the poorest people in the USA at the time, and as many as 8% of blacks were unemployed in 1955. For the blacks, the New Deal slightly improved their way of living as it was designed to help everyone without discrimination. Soon after New Deal was set up, the situation for blacks was improved socially by the outbreak of the Second World War. When the Americans were brought into the war, they needed as many men as they could to fight; blacks had regiments where they could join and be equal to whites, but they still were not allowed to belong to the same regiment as the whites- there were some who did, but they were rare, they normally belonged to an all-black regiment. At the end of the war, the blacks got more ambitious; they were allowed to fight for their country, but America wasn’t even grateful enough of them to let them be equal. This would have enraged African Americans since they had fought so hard to be a part of America, so the Civil Rights movement activity increased, which put pressure on the government to do something. The Nazi ideology also pushed the government into action, because what the Americans were doing to the blacks could be compared to the Germans discriminating against the Jews in Germany; the blacks realised this, so demanded equality, as they didn’t want the same to happen to them . In conclusion, the position of blacks in 1945 was not equal to whites: even after a century of supposed â€Å"freedom† from slavery, blacks were still treated as inferiors to whites. Laws and acts were in effect that encouraged the discrimination of blacks. Amendments such as the rights for blacks to vote and the rights for them to be equal were passed, but there were so many other laws that cancelled them out. Jim Crow laws in the South and practises such as â€Å"red lining† in the North made it impossible for blacks to be seen as equal politically, whilst rebellions by extremist whites and groups such as the Ku Klux Klan stopped blacks gaining any social standing or equality. Blacks were supposed to be equal, but by 1945, some may comment that the position of them was worse then slavery, as the blacks were on their own in  there poverty and discrimination; before, they had their slave owners who would clothe and feed them to keep productive workers- they would never be out on the streets as slaves, but as â€Å"free† people, they received basically no help. Things that whites took for granted, such as clean and good-quality facilities, and jobs that are fair and just are things that blacks counted themselves lucky if they managed to get any equality. People like Martin Luther King Jr. and W.E.B. DuBois tried to get equality, both through violence and peaceful means, but it didn’t have much effect to the political and social standing of blacks. The discrimination of blacks continued right into the 20th century, even up into the 21st century. It was slow going for the blacks’ right to equality, but actions by both blacks and whites ch anged things for the better. However, in 1945, blacks were not considered as equal, but as 3/5s of a human being. Bibliography: (1) http://www.alternativeinsight.com/Reparations-Slavery.html Field, Ron; â€Å"Civil Rights in America 1865-1980†; Cambridge University Press http://www.lawbuzz.com/can_you/plessy/plessy.htm http://en.wikipedia.org/wiki/New_Deal

The Capital Market As An Investment Opportunity In Uganda Finance Essay - Free Essay Example

Sample details Pages: 16 Words: 4896 Downloads: 4 Date added: 2017/06/26 Category Economics Essay Type Research paper Did you like this example? Abstract: The purpose of the study was to examine how the share market has developed in Uganda from inception of the Capital Markets Authority in 1998 to the current date, 2010. A qualitative study using a descriptive method was used. Key stakeholders were identified as African Alliance, a broker, Stanbic Bank an issuer, the Uganda Securities Exchange (USE) as the Exchange Market trading platform and the Shareholders. Don’t waste time! Our writers will create an original "The Capital Market As An Investment Opportunity In Uganda Finance Essay" essay for you Create order Primary Data was collected by using structured interviews that were held with the key stakeholders mentioned in the previous paragraph and Secondary data from various books and the Internet. The findings from the data collected are presented in form of graphs and tables. The study revealed that Uganda is at the stage of developing its Stock Exchange Market and is still far from the standards of most International Stock Exchanges. This is mainly because there are a few stocks available in the country as compared to the growing economy, the confidence of Ugandans to buy stock is still low due to the exposure that Stock Exchange over the last few years has had in the country and the companies that are still family based private institutions. Word Count: 192 INTRODUCTION: With the advent of financial liberalization, a wider choice of business investment opportunities has been created as a measure of economic development. Today, one way of determining a countrys developing economy can be through its stock exchange. Growing activity and increased investment in the stock exchange indicates a developing economy in the business world  [1]  . The stock market has proved to be a vital source for companies to raise money other than the traditional bank loans and it improves a companys valuation through the price discovery mechanism. It also creates a platform for savings for investors who wish to participate as Shareholders in these companies. Uganda being a developing country, the introduction of financial instruments and the establishment of the Uganda Securities Exchange has deepened the financial sector encouraging local and foreign investors. USE as a stock governing body was created because of Uganda Governments privatization policy where state owned companies were disposed. The Government would sell a percentage of small number of its shares to the public and retain a percentage for a core investor. This was aimed at promoting wide spread ownership by involving the people of Uganda in the buying of shares of these privatized companies. The basic function of USE is to provide a facility for raising funds for investment in long term assets. Being a developing country with difficulties in accessing finance for new and small companies, the stock market provides a good platform for raising capital and mobilizing savings for investment opportunities. The USE was established in 1997 and the first security, the EADB bond was listed in 1998. Currently, there are 14 listed equities, six corporate bonds and over forty government bonds fairly representing a growing securities market. However compared to the neighboring Kenya stock market with 49 companies, there is still potential for growth. These companies were majorly *Parastatals, which were wholly or partially owned by government. According to Stuart R. Cohen the best source of capital is public investment through the purchase of shares  [2]  . In spite of there being 14 listed companies on the Ugandan stock market, development has been unpredictable (refer to Table 1). Based on these facts and from my observation as a Stanbic Bank shareholder, the slow development could be attributed to the shallow financial sector, lack of confidence in the stock market, insufficient knowledge poor governance practices and lack of incentives or interest for companies to list on the stock market. Therefore the purpose of this study is to examine the development of the share market from inception to 2010 with specific reference to Stanbic bank as the biggest issuer and African Alliance as a significant broker. The findings from this study will be able to assist USE to formulate specific solutions to identified problems, stimulate others to rese arch further into the areas identified and benefit myself to acquire techniques required to do my research when I join University. REVIEW: Introduction In reviewing the period between inception and the current situation of the share market, Uganda Securities Exchange were looked at in general. The USE is the Ugandan stock market governing body; it was formed in May 1997 after receiving a license form the Capital Markets Authority (CMA). It is a private company with a board of directors and articles of association, the exchange regulates the trading of shares. The Uganda securities exchange in Uganda is so far the only licensed stock exchange body that has controlled all stock activity in the country since 1997. Its main function is to provide a facility for raising funds for investment in long term assets in the country. It also mobilizes savings for investment, creates liquidity and helps in the growth of the related financial services sector. To date, there are fourteen (14) companies listed in the security exchange In examining the existing secondary literature, the aim was to broaden the understanding of identified th emes highlighted in the introduction above. THE STOCK MARKET AND ITS OPERATIONS On a simplistic view, a capital market is just like a normal market where people go to buy and sell or trade goods. Specifically a capital market deals with the entire range of activities that relate to buying and selling of financial instruments which include government treasury bills, bonds, company shares of stock.  [3] A  stock exchange or stock market  is known as a secondary market where securities which are already in circulation are formally bought and sold through brokers.  [4]  The purpose of a stock exchange is to monitor the exchange of securities between buyers and sellers of stock. These exchanges provide real time trading information on the values of stock for different companies. This process of selling new shares by an issuer to securities dealers is known as underwriting or a Primary Market. When companies sell new shares, its known as an Initial Public Offering (IPO) a process which Stanbic bank Uganda had to go through.  [5]  The stock s sold by an Issuer are listed and traded on Stock Exchanges. Following an IPO the shares are then listed on the stock exchange and traded through the Secondary markets. Share prices are based on demand and supply of the shares, company performance, speculation of future performance, or perception. If there are more shares being offered for sale than purchasers are willing to buy, the price of shares will drop in order to reflect the excess supply. On the other hand, if fewer shares are being offered than there are buyers; the price will rise as an indication of excess demand. Participants in the stock market can range from Small Retail Investors to large  Institutional Investors, Brokers, dealers and fund managers. Some exchanges of stock are at Physical locations where transactions are carried out on a trading floor, through the  open outcry system, the method currently used in the Ugandan Stock Exchange (2010). This method involves calling out of bids and offe rs by the floor traders. When the bid and ask prices match a sale is considered to have taken place. This is based on a best price first come basis. Trading is started and ended with the ringing of a bell.  [6]  The fact that the trading place is located at only the premises of USE in the city center, very few people are likely to know what has taken place at the trading place unless one is physically present. This limits the number of buyers The other type of stock exchange is a virtual kind, composed of a network of computers where trades are made electronically via traders. In Uganda this system of the stock market has not yet been established, Over-the-Counter (OTC) trading of securities although is not allowed.  [7]  The exchange disseminates information to the public through the media or its website which shows share price movement, corporate announcements and market activity. How they do this is mentioned later in the essay. THE UGANDAN CAPITAL MARKETS INDUSTRY The advent of Capital Market in Uganda started with the establishment of the Capital Markets Authority (CMA) in 1996 with the purpose of regulating the Capital markets industry. The Capital Market Authority then went ahead to license different players within the industry  [8]  . The Uganda Capital markets Industry has the following players: The stock exchange Fund Managers Brokers/ Dealers Collective Investment Schemes (CIS) Registrars Custodians THE STOCK EXCHANGE: The stock exchange as mentioned in the previous text has been predominantly run by the Uganda Securities Exchange since its establishment in 1998. The exchange provides the platform for trading all shares and securities that have been listed on the stock market and also gives updates on the current share prices in the official newspapers and on their online website. Stock market requirements in Uganda: In order for a company to raise capital and list on the Ugandan Stock Market it has to undergo a due diligence process, prepare a prospectus, meet the listing requirements and seek the approval of the CMA and the USE. Some of the major requirements of the CMA and USE are the track record of the company, audited accounts of the company for the past two to five years and net asset requirements.. The Central Depository System (CDS). The USE introduced CDS in 2010. This is and electronic register. When kept in paper form, for safe keeping securities owners of shares may ea sily misplace their certificates or even in case of robbery and thus remain with no proof of ownership. Today, all shareholders involved in the trading of shares are required to have a CDS account, in the Securities Central Depository, where ones shares are kept, credited and added to according to their personal transactions. There are still investors who hold their securities in paper form whereby shareholders not trading in shares would have certificates of ownership that indicates how many shares one would have bought and at how much. THE ISSUERS: Issuers are entities listed on the stock exchange in Uganda. These entities are required to undergo particular requirements in order to be listed on the stock exchange as listed below. The companies first have to make their shares available or issued to the public and this involves the disclosure of the companys position in terms of financial status, assets, liabilities etc. this is also known as going public. The companies then apply to raise capital and be listed under the different market segments of the Securities Exchange. Once approved to raise capital and/or be listed on the exchange, the companies then have to be listed under a particular market segment. The difference between these segments mainly is the level of requirements with the Main Investment Market Segment being stricter in disclosure terms than the Alternative Investment Market Segment. There are three main market segments; the main investment market segment (MIMS), the Alternative investment Market S egment (AIMS) and the Fixed Income Securities Market Segment (FISMS). The difference between these segments is the level of requirements. MIMS is stricter in disclosure terms than the AIMS. MIMS requires a company to be limited by shares with a minimum of full paid up share capital of one billion shillings (Ushs 1,000,000,000) and the assets of two billion shillings (Ushs. 2,000,000,000) plus published audited financial statements of at least 5 years according to International Standards. AIMS on the other hand requires a corporate body or registered Public issuer, full paid up capital is a minimum of two hundred million shillings (Ushs. 200,000,000) and net assets four hundred million shillings (Ushs. 400,000,000) and requires audited financials of at least two years. There is need for the USE to provide a sense of direction to the potential issuers about the alternatives they have. Many Potential issuers especially those without strong brands are not aware of the opportunities avai lable at the sock market. BROKERS/ DEALERS These are the middle men in the stock market. They are involved in the buying and selling of shares on behalf of the investors. In Uganda one cannot buy or sell shares that are in the secondary market (shares already in circulation) without a broker, this is bound by the law of Uganda therefore they are very crucial players in the stock market. There are 9 licensed Broker Companies currently operating in Uganda which include African Alliance, Baroda Capital Markets, Crane Financial Services, Crested Stocks and Securities Limited, Renaissance Capital Limited, UAP Financial Services, Equity Stock Brokers, Dyer and Blair (UG) Limited and MBEA Brokerage services. Brokers receive orders from clients that wish to sell their shares and they link them up with other clients who may wish to buy shares from particular companies. The brokers earn a fixed commission of not more than 2% from all the trading activities. INVESTORS: These could be classified under the buyers of shares and are also the parties that determine the success of the stock market. Investor in Uganda can be categorized into four categories: Foreign institutional investors These include companies and organizations that are not based within the country and take interest in the buying and selling of shares in Uganda. These include fund managers like for pension funds that possess a lot of liquidity and use this is for investing in the stock market Foreign individual investors Local institutions These are indigenous companies and organizations that take interest and engage in the trading of shares on the stock exchange. This is also normally taken up by companies with liquidity and can afford to engage in this type of continuous trading for example private pension funds, insurance companies, etc. The National Social Security Fund (NSSF), the countrys largest pension fund, is known to be the largest individual shareholder in most of the companies that are listed on the USE like Stanbic Bank Uganda, DFCU Bank, HFB Bond Uganda. Local individuals This field was initially characterized by the high net worth individuals in the country but as of 2007 when Stanbic Bank was listed on the stock market this has changed. The Bank opened the doors to the widespread ownership of shares the country has ever seen. Stanbic Bank had shareholders buying a minimum of 1000 shares which was equivalent to 70,000 Ug Shs at that time. The Stanbic IPO attracted over 35,000 shareholders. Insert table for shareholder breakdown Fixed Income Securities Market Segment (FISMS) This segment entails issuers of bonds who are either corporate or government. The segment is dominated by the government securities. There are a few corporate bonds whose secondary market activity is non-existent. The government bonds are traded over the counter through Primary dealers system (PDS) Primary Dealers System is Banks that are allowed to deal in Government Securities. These banks participate in the secondary market of government securities and they include Stanbic Bank Uganda, Standard Chartered Bank, Barclays Bank, DFCU Bank, Bank of Baroda and Centenary Bank. GRAPH 1: A GRAPH SHOWING THE NUMBER OF SHARES TRADED BETWEEN JANUARY 2000 AND OCTOBER 2010 The trend in the curve above proves there was accelerated activity in 2007 that was most likely due to Stanbic Banks listing and has been the best since then. It has declined from 2008; one of the major reasons for this is because recent global crisis which saw stock market activity drop across the world. The awareness of the stock market was boosted during the Stanbic IPO period (2007) because Stanbic Bank share price was perceived as affordable and the brand was widely known among Ugandans. STANBIC BANK (U) LTD Stanbic Bank is part of the Standard Bank of South Africa Ltd. It is the largest financial institution with the largest branch network in Uganda. The Bank is incorporates in Uganda under the Companies Act as a Public Liability Company. In 2002 SBU acquired 80% shareholding in Uganda Commercial Bank Ltd a government institution under the Privatization policy. Stanbic Bank Uganda joined the exchange in 2007 when it was listed by on the Uganda Securities Exchanges main market segment. It was concluded to be a successful venture for the company when they realized an IPO (Initial Public Offering) that was 200% over subscribed, the highest subscription in Ugandas IPO history. The bank also received tremendous international interest from investors mainly from Kenya. Stanbic banks forthcoming transition into the stock market was first introduced during the takeover of Uganda Commercial Bank by well-known Standard Bank (Stanbic Banks Mother Company) with its headquarters in South A frica. One of the agreements between these investors and the government of Uganda was to eventually sell part of the company to the public after a period of time, and in 2007 this was done with the government giving up it 10% of the company and the investors matching 10% of their ownership and so 20% of the company was sold as shares.  [9] During companies IPO, just like Stanbic, a number of factors would contribute to the publics interest in the acquisition of shares from that particular company for example the Brand strength and recognition. Stanbic bank is a very successful bank, a branch of Standard bank, one of the biggest banks in Africa therefore the public was already aware of the company and some of its capabilities. Other factors like marketing, timing, size of share on offer also contribute to the subscription of shares. The recent Stanbic Bank Initial Public Offer was in line with the objectives of the Governments divestiture programme that seeks to remove state participation in the ownership of a variety of companies. Shares equivalent to 1,023,773,394 were offered at a price of Ush 70 per offer share, this consisted of the existing issued share capital of the company. 51,118,670 representing 1% were offered for employees of the bank at the same price. The objectives were to enable the Ugandan Public to participate in the equity of SBU and to encourage a wider ownership, provide individualism institutions, investor an opportunity to participate and also provide a market for the shareholders to realize their investments. The response was phenomenal with 37,449 applications for 3 billion shares totaling U Shs 211 billion hence a 200% oversubscription. Stanbic Bank shares are now traded on the Uganda Stock Exchange. Today the Stanbic bank stock market cap is estimated at about 1.3 trillion Shs which is about 650 million dollars as of 11.10.2010 with 5,118,866,970 shares in circulation.  [10] AFRICAN ALLIANCE African Alliance is an investment bank in Uganda that organizes capital for firms through other means apart from the conventional bank loans. African Alliance also deals in the trading of shares and company bonds, the area I am most interested in. Clients go to the company office as buyers and sellers of shares. The buyers of the shares place a bid for shares listed on the USE for a particular company they are interested in which the company then records. The sellers of the shares also come to the company and set a price for their shares. African Alliance links these two parties when they come across matching bids and prices of share. The company earns its income through the commissions that it chargers its clients. The clients that are selling their shares are credited when their shares are bought; a percentage of the money got from selling the shares (2.1%) is paid to the company. The clients that are buying the shares also pay an additional percentage (2.1%) of the amount he is paying for the shares. The breakdown of the 2.1% commission is as follows:   1.70%   Goes to the Broker   0.14%   USE Levy   0.14%   CMA Levy   0.02%   Joint USE CMA Compensation fund   0.02%   Guarantee Fund 0.08%   SCD Levy African alliance is currently facing a problem of liquidating the market and getting more companies to be listed on the Uganda Securities Exchange, this is because the company earns on commission therefore their transactions are proportional to the income they earn. Having more companies listed on the stock market attracts more investors to the country and eventually improves the economy, like I had mentioned before, a countries performance in the stock market can be used to determine the economies development. In order for the company to realize more revenues in terms of commissions from shares sold or bought. There is need to sensit ize a bigger population. They need to partner with the USE on closing the information gap. With more companies or corporates listing and more people sensitized there revenues will be enhanced and ultimately growth of the company. The companys new transition into an electronic based office system has made it easier for offers and bids to be realized and has made their record keeping more efficient. Previously Certificates were held by clients when they acquired shares from the USE but were given up to the company when they placed their offers to sell shares. The certificate system made the clients vulnerable because they could easily be lost or misplaced. CONCLUSION The major conclusions from my study are drawn from the findings and investigations and are reported based on the Research Question, Examining the development of the share market as an investment opportunity in Uganda At the beginning of the investigation it was established that the stock market is not developed to the level it should be at after thirteen years in existence. I based this assumption on the other International Stock Markets like Kenyan Stock Market and the American Stock Markets. In spite of the Nairobi stock market having been in existence for over fifty years as compared to the thirteen years for Uganda, the mix of the listed companies and corporate bodies is a good indicator of a developed economy. The major reason why the share market is unpredictable in Uganda has been identified as below: There are few stocks/ shares available in the country compared to the growing population and increasing investors. This limits the investors potential and interest in the country. The confidence the population has in the stock market is still low. The population is still rigid to jump into investment opportunities like the Stock Exchange because they do not have enough information and trust in it. There is also a lack of a clearing house to manage efficient transfer of securities from owner to purchaser. Since trading is only done through a few brokers, the possibility of not getting the right information in a timely manner as to make an investment decision. Uganda still has mainly a family based business system. The stock and share market involves a company exposing its financial status, declaring all its possessions to a large group of people. Most of the companies listed in the Ugandan Stock Market are international institutions like Stanbic Bank and Kenya Airways; companies as identified in the review have the capacity to market and advertise before listing. The requirements of listed companies to prepare and distribute periodic repo rts to shareholders and the Exchange market are not very welcome by local companies as it is perceived that it will expose them to higher taxes by revenue authorities. Also a recent article in the New Vision Newspaper (06/02/2011) highlights a lack of incentives i.e. tax holidays for companies to join the Stock market. The lack of public awareness could contribute to the unpredictability of the history of the Ugandan Stock Market. In 2007, the interest was at its highest because the bank created awareness and population saw an opportunity to invest at a relatively low price but the lack of sufficient knowledge led to the interests decline because the investors were now satisfied with their involvement which should not be the case. The public is also not made aware of the market segments like the AIMS which provide fewer and easier requirements to fulfill. They presume that disclosure terms are all similar. It is important that the USE provides a sense of direction by informing th e public about the possible alternatives in joining the Stock Exchange. The prices of stock and shares are still high relative to the earning per share. In 2007, Stanbic bank sold their shares at a 70shs, an affordable price and the Sock Market witnessed the largest interest in buying of shares. Companies that listed after Stanbic priced the share much higher, hence having less enthusiastic from the public. RECOMENDATIONS: In order for the Share market to develop fast and more steadily in Uganda the following suggestions could be taken into consideration. The government should quickly put in place incentives and policies to attract investors in the Capital Market. The government should also attract more SMEs and local corporates by putting policies in place that would assist businesses in times of losses. The Uganda Securities Exchange together with the Ugandan Government should organize a campaign to sensitize the public about the operations of the Stock Exchange, at tracting more companies on the benefits of saving as alternative methods to using banks. Investment advisors should be recruited to provide information and recommendations to the local investors and to interest new investors as well to participate in the Stock Market. Electronic awareness either through mobile message or email to owners about the share price would increase sellers and hence more buyers and fluctuations in the share price. APPENDICES TABLE 1: TABLE SHOWING COMPANIES LISTED IN THE USE SINCE 1997 LISTED COMPANY YEAR OF LISITNG *East African Development Bank (EADB) 1998 Uganda Clays (UCL) 2000 British American Tobacco Uganda (BATU) 2000 East African Breweries Ltd (EABL) 2001 Kenya Airways (KA) 2002 Bank of Baroda Uganda (BOBU) 2002 DFCU Bank 2004 New Vision Printing and Publishing Company Ltd (NVL) 2004 Jubilee Holdings Ltd (JHL) 2006 Stanbic Bank Uganda (SBU) 2007 Kenya Commercial Bank (KCB) 2008 Equity Bank Ltd (EBL) 2009 National Insurance Company (NIC) 2010 National Media Group (NMG) 2010 Table 2: A SUMMARY OF MAJOR LISTED COMPANIES LISTING HISTORY Company Listed year Shares issued 000,000,000shs Market Capital 000,000,000,000shs Original share price Current share price (2.19.10) Stanbic Bank Ltd 2007 5.1 1.407 70 275 Uganda Clays Ltd 2000 0.9 0.04 45 Jubilee Holdings Ltd. 2006 0.045 0.245 5548 British American Tobacco Uganda 2000 0.049 0.85 1740 DFCU 2004 0.248 0.223 900 Table 3: Companies No. Of shares 000 Share price (Ushs) Market Capitalization Local Listed Uganda Clays Limited 5,000 2,255 11,275,000 British American Tobacco Uganda Limited 49,080 470 23,067,600 Bank of Baroda 40,000 1,000 40,000,000 DFCU Limited 248,600 420 104,412,000 New Vision Printing Publishing Company Limited 51,000 460 23,460,000 Cross-Listed East African Breweries Limited 658,978 3,818 2,515,978,004 Kenyan Airways Limited 461,615 3,107 1,434,237,805 Jubilee Holdings Limited 36,000 7,372 265,392,000 TOTAL 4,417,822,409 TABLE 4: THE USE DAILY LISTED COMPANIES UPDATE COMPANY PRICE CHANGE  ALSI 1,228 0.61% BATU 1,740 0.00% BOBU 795 -0.63% CENT 670 0.00% DFCU 900 0.00% EABL 5,548 0.34% EBL 840 2.19% JHL 5,548 0.34% KA 1,183 -3.74% KCB 672 1.51% NIC 70 0.00% NMG 4,993 -0.24% NVL 550 0.00% SBU 275 0.00% UCL 45 -10.00% USE LCI 369 -0.22% Data collection tools Appendix I: Interview with the African alliance Staff My name is Vernon Kihuguru. I am a Business and Management student at Aga Khan High School doing my Extended Essay in Business and Management. My topic is the introduction and development of the Ugandan stock Market which Stanbic Bank Uganda Ltd as my case study. Below is the interview I carried out with a management staff of Africa Alliance. It was a pre- written interview where I used an interview guideline which was answered without my presence and sent to me by email. The limitation of this interview is based entirely on the nature of African Alliances line of work hence their inability to give detailed information about their operations. What kind of financial institution is African Alliance? African Alliance is an Investment bank. What exactly does African Alliance do? As an investment bank, we organize capital for firms through new channels apart from the conventional bank loan a firm can apply for from commercial banks. We have three departments: Corporate finance: deals with arranging deals like IPOs (Stanbic, DFCU), private placements (Good African Coffee) , rights issues(New Vision) Securities: that deals in the trading of shares and corporate bonds Unit Trusts:- deals with managing clients funds, be it saving or pensions (similar to NSSF) How do carry out your everyday operations? In securities, which most people are familiar with, clients place purchase orders to buy stocks listed on the Uganda Securities Exchange (USE), while at the same time clients with the intention to sale place their shares offers on the same market. If the prices of the sellers (offers) meets that of the buyers (bidders), then a deal is struck. What challenges do you face in this industry? We face challenges of making the market liquid. Finding buyers and sellers to transact as often as possible is the main goal for we are paid on commission. We have challenges of getting more companies listed on the exchange, for it gives more investment avenues and options to prominent investors. How do you earn from the stock exchange? We earn in for of commission per transaction we carry out. Lets say we have client selling 1,000 Stanbic shares at UGX 265. His shares are worth UGX 265,000. But we charge 2.1% of that value, hence we take UGX 5,565 and we transfer to his account UGX 257,435 and vice versa for buying client taking the 1,000 shares, he would have to top up the UGX 5,565. What advancements have been made in your sector since the start of the market in Uganda? We have moved from a paper based system to and electronic trading platform. Before April 2010, all clients received certificates when they bought shares from the (USE) and gave them up when the offered to sale. Now we run on an electronic system where shares bought are placed into an electronic account held by the exchange (USE) and when selling are debited off the account. Appendix II: Interview with Secretary of Stanbic Bank What is Stanbic Banks Involvement in the Ugandan Stock Market? Stanbic Bank Uganda is an issuer of When did Stanbic Bank get listed and why? Stanbic Bank was listed in 2007 under the Why didnt the company get listed earlier or later? What were the requirements to get listed? Has joining the stock market improved the companys overall performance? How? Were the results expected? What are the problems the company is currently facing in relation to the stock market?

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