URSB, IFC to rollout Movable Asset Based Lending (MABL) Project
Uganda Registration Services Bureau and the International Finance Corporation will be rolling out the Movable Asset-Based Lending Project (MABL Project).
The project, which was approved in January 2025 is under the Uganda Investment and Sector Competitiveness Program (UISCP), which aims at dealing with the factors constraining lending institutions from using movable assets to provide credit to potential borrowers in the underserved sectors of Uganda’s economy.
While meeting a delegation from IFC led by Ms. Luz Sulamina, Manager Credit Infrastructure in Africa, the Registrar General, Ms. Mercy K Kainobwisho, extended her appreciation of the support from IFC and said URSB would ensure the project’s effective implementation as a key stakeholder.
She also informed the IFC delegation that URSB had a clear record in effectively implementing projects, and the approval of the MABL project was proof of the trust and accountability exhibited with past projects. The Registrar General highlighted URSB services that could benefit from IFC support, specifically business rescue efforts under insolvency and dispute resolution functions.
On her part, Ms. Luz Sulamina IFC expressed optimism towards the implementation of the project and reaffirmed IFC’s support towards increasing uptake and use of movable collateral. The key objectives of the project include strengthening the regulatory framework for movable asset financing, expanding the use of the collateral registry by financial institutions, supporting financial institutions in developing new movable asset-based lending products, such as intellectual property, warehouse receipts, and supply chain financing, and promoting financial literacy and knowledge sharing among key stakeholders.
URSB hosts Uganda’s Security Interest in Movable Property Registry (SIMPO), which establishes a legal framework for using movable assets as collateral for loans. It also creates a registry system that allows lenders to record their security interests in borrowers’ movable property, providing greater certainty for creditors and expanding access to credit for businesses and individuals without traditional collateral, such as land.
