He is the founder of the Uganda Securities Exchange and of UAP Old Mutual Financial Services Uganda Limited, a subsidiary of the Nairobi-based financial services conglomerate, UAP Old Mutual Holdings.
In 2003 he spoke out about "how cash is the missing ingredient in the recipe for the country's economic development" in reference to the Ugandan economy relying on donor funding and taxes derived from imports.
Under the NSSF, Obel attempted to raise foreign investment and advance the regulation of the Bank of Uganda to improve national savings.
[1] His efforts towards developing the economy and instructure of Uganda and corporate interests has often led to conflict and in 2006, for instance, he was involved in a legal battle over the construction of a bridge which jeopardized the livelihoods of local farmers.
[4] He was cleared of all charges because he was able to prove in court that he followed all relevant protocols, including getting clearance from the Minister of Finance, as required by the law.