Kampala, Uganda; The Uganda Registration Services Bureau (URSB) collected a total of Ugx UGX 77.14 Billion in non-tax revenue for the period July 2022 to June 2023, against a target of UGX 69.6 Billion, representing a surplus of UGX 7.54 Billion.
This outstanding achievement was revealed by URSB’s Registrar General Mercy K. Kainobwisho while presenting the annual performance report for FY 22/23 at the entity’s Headquarters- the Uganda Business Facilitation Centre in Kololo on Wednesday.
In her remarks, the Registrar General said the Online Business Registration System (OBRS) which was developed in partnership with the Ministry of ICT and National Guidance greatly improved customer experience and efficiency in handling submissions while further reducing timelines of registration. “Our investments in innovative technologies have been focused on easing registration for our customers by ensuring that the process is quick and convenient”.
It is anticipated that increased provision of online services such as company incorporation, document certification, and company resolutions among others will translate into more regulations” She said.
Kainobwisho further attributed the growth in NTR collections to sustainedpublic sensitization and communication with the general public on the benefits of formalization adding that URSB had established partnerships with key entities to enhance collaboration “We are also reaching out to strategic stakeholders in both the private and public sectors to leverage each other’s strengths in achieving the formalization targets” Key areas of collaboration are information exchange and systems integrations. Our one-stop Business Facilitation center is now fully operational to tap into joint service delivery synergies”.
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In line with their formalization mandate, in the period July 2022 to June 2023, URSB registered 23,789 companies, 27,104 business names, 86,375 legal documents, and 1,483 debentures. The companies registered in 2022/23 increased by 28% compared to 2021/22, driven by the simplification of the registration processes resulting from automation that continues to ease client access to services.
URSB is mandated to register businesses, companies, intellectual property, civil marriages, handle insolvency and receivership as well as run the security interest in movable property registry system (SIMPO).
In the period July 2022 to June 2023, URSB registered 23,789 companies, 27,104 business names, 86,375 legal documents and 1,483 debentures. The companies registered in 2022/23 increased by 28% compared to 2021/22, which is explained by the increase in awareness and simplification of the registration process.
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URSB established an electronic Security Interest in Movable Property Registry System (SIMPO) in 2019 where lenders register interests in movable property.
In 2022/23, 6,179 loans were extended to borrowers by financial institutions using movable property as collateral and registered on Security Interest in Movable Property Registry. Compared to the financial year 2021/22, a growth of 36% in registration was achieved in 2022/23.
The Bureau under its All-Digital, All-Online strategy leveraging the use of technology and data analytics to support increased registrations across their mandate, improve non-tax revenue collections, drive compliance through customer-enabled data updates, and identification of and protection of intellectual property rights.
URSB moved into its permanent premises at the Uganda Business Facilitation Centre (UBFC) in Kololo on September 16th, 2022. The premises house Uganda Registration Services Bureau, Uganda Investment Authority, and Capital Markets Authority. Uganda Business Facilitation Center will be a central hub and one-stop center for registration and licensing for both foreign and local investors and companies with 20 institution service points.
To improve customer interfaces with URSB services, a new business registration system the “Online Business Registration System (OBRS)” was developed in partnership with the Ministry of ICT and National Guidance. The system will improve the efficiency of the Registrar handling customer submissions while further reducing timelines of registration. It is anticipated that increased provision of online services, for example,company incorporation, document certification, company resolutions for bank account opening, company and business name document searches, name reservation, and business name registration will translate into more registration.
URSB completed, commissioned, and handed over a fully constructed sanitation facility under the Corporate Social Responsibility initiative to the Oleni primary school management in Vurra County in Arua on 15th September 2022. The facility consists of five stances, two for male pupils, two for female pupils, and one for pupils with disabilities. The facility will support over 1000 pupils whose only sanitary facility had run down.
Additionally, in April 2023, URSB donated various medical equipment to Kawempe National Referral Hospital in support of the government’s efforts to improve maternal health and childcare services. The donation was made in line with the United Nations Sustainable Development Goal Three (SDG-3) to accelerate the decline of maternal mortality by 2030.Items donated included digital ultrasound machines, baby scales, weighing scales, boxes of glucometer strips as well cartons of ultrasound gel which are all necessary items for safe delivery and child care.
URSB participated in international engagements in line with its mandate. Some of the engagements were organized by the World Intellectual Property Organisation, African Regional Intellectual Property Organisation, Insol, World Trade Organisation, and Eastern and Southern Africa Anti-Money Laundering Group among others