The vital work of enhancing business registrations and reduction of the informality by the Uganda Registration Services Bureau (URSB) has been praised by Norbert Mao, the Minister of Justice & Constitutional Affairs. The minister made the remarks yesterday during the Board and Management teams’ visit to update the minister about URSB’s strategic plans, key achievements, updated and reformed laws and plans for the future. The delegation was led by Board Chairman, Ambassador Francis Butagira and Registrar General, Mercy K. Kainobwisho.
Latest statistics show that 34,044 new companies and 53,180 business names were registered between December 2020 to September 2022, alongside 98,541 legal documents and 41,536 certifications. 3,311 local trademark applications were registered, while 2,752 civil marriages were recorded among other key registrations.
Speaking to the URSB team, Hon. Norbert Mao said he was impressed with URSB’s strides in supporting formalization of the economy through reliable registration services. ‘I applaud URSB for improving the business environment, making Uganda an attractive business destination and a catalyst for investment. I am aware you have made the processes and access to registration services easier’ the minister added.
He added that URSB’s contribution on reforms and amendments made in line with the anti-money laundering laws which were passed by parliament and assented to by His Excellency the President had saved the country from being blacklisted. He noted that with full implementation of the laws now taking place, companies will enjoy improved registration services which will also ease the entry and exit of companies due to the created business environment.
In turn, Ambassador Francis Butagira, the Board Chairman, stressed that URSB had adopted a futuristic strategic plan that prioritized innovation and creativity in services delivery that would maintain the vision of being the centre of excellence for registration services. He noted that the administrative ambition today is based on providing government services that meet the aspirations and keep tone with the government’s vision about improving the services of the public sector.
‘Our priority is to pursue initiatives through multi-faceted engagements to ensure we remain on course to increase formalization, enhance competitiveness through protection of intellectual property rights, stabilize family unions with easy marriage registrations while stewarding restructuring of entities by offering fast insolvency services. Our chattels registry has also been positioned to uplift usage of movable property as collateral for borrowing’ Ambassador Butagira told the minister
The Registrar General briefed the minister about URSB’s key achievements including growth in non-tax revenue (NTR), decentralization of services and enhancement of sensitization to create awareness. URSB registered the highest ever NTR collection in a financial year, in 2021/2022, collecting UGX 57.04 billion, posting a surplus of 11.47 billion and growth of 40.8%. ‘From December 2020 to September 2022, URSB mobilized total NTR of Ugx 87.42 billion against a target of Ugx 81.68 billion, posting a surplus of Ugx. 5.74 billion’. Our all-digital, all-online strategy has enhanced service quality standards, bolstered services delivery and increased access to registration services. Kainobwisho said.
URSB continues to make commendable contribution towards facilitating private and public sector development by enhancing easier, faster and timely registration services. Formalization of the economy is vital in increasing the tax base and supporting innovation while creating employment.