URSB collects Shs77.14bn in Financial Year 2022/2023 against target Shs69.6bn

The Uganda Registration Services Bureau (URSB ) collected a total of Shs77.14 billion in Non Tax Revenue for the period July 2022 to June 2023 against a target of Shs69.6 billion, representing surplus of Shs7.54 billion.

This outstanding achievement was revealed by URSB Registrar General, Mercy Kainobwisho on Wednesday 26th July 2023,while presenting the annual performance report for financial year 2022/2023 at the entity head quarters in Kololo.

Kainobwisho attributed the impressive growth to online business registration system adoption which was developed in partnership with Ministry of ICT and National Guidance.

She noted that the online system greatly improved customer experience and efficiency in handling submissions while further reducing timeliness of business 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 non tax revenue collections to sustained public sensentisation and communication with the general public on the benefits of formalisation adding that URSB had established partnerships with key entities to enhance collaboration.

In line with formalisation 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 2022/2023 increased by 28% compared to 2021/2022 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 system.