Uganda, Nov. 10 -- Uganda Securities Exchange (USE) has conceded that the Growth Enterprise Market Segment (GEM) has failed to takeoff.

The segment, which was established in 2012, had sought to create a window for small and medium sized companies, through which they would raise capital to accelerate growth of their business offered against flexible listing requirements.

USE did not indicate reasons for the failure but noted that the segment had attracted low public participation thus forcing it to rethink on a new way through which small and medium sized companies can be revitalized to participate in equity markets before upgrading to publicly listed companies in the stock exchange.

The USE currently has 18 companies listed on Maini In...