SECURITY INTEREST IN MOVABLE PROPERTY REGISTRY SYSTEM (SIMPO) SENSITIZATION WORKSHOPS

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To enhance knowledge & awareness about the Security Interest in Movable Property Registry System (SIMPO), the Chattels Unit has organized a series of Sensitization Workshops across the country for stakeholders that include Money Lenders, Financial Institutions, Microfinance Businesses & other financial services providers, regulated by the Uganda Microfinance Regulatory Authority.

For the benefit Kampala based lenders, a sensitisation workshop was held at Fairway Hotel in Nakasero. The over 50 stakeholders in the financial services sector were introduced to the SIMPO Registry. The stakeholders also used the opportunity to not just learn how they can lend easily using movable property, but also how to lodge security interests in collateral staked and lend safely.

Mr. Vincent Katutsi, the Director Civil Registrations represented the Registrar General, Ms Mercy K. Kainobwisho to give the keynote address. The session was also addressed by Ms. Edith Tusuubira, the Executive Director of the Uganda Microfinance Regulatory Authority.

The half day training & sensitisation workshop ended with a call to lenders in the financial services sector to keenly support the growing number of Micro, Small & Medium Enterprises (MSMEs) that are in need of operational capital to fund their businesses using movable assets like machinery, stock, livestock, furniture among others.

Similar trainings were carried out last year in Mbarara, Mbale, Gulu & Arua. Interested lenders can still request for virtual trainings at a time of their convenience.

-ENDS-

For further information, please contact:

Steven Douglas Baryevuga,
Senior Communications & Media Relations Officer,
Uganda Registration Services Bureau,
Telephone: +256 782 184551,
Email: steven.baryevuga@ursb.go.ug

 

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