Commissioner Egesa Urges Entrepreneurs to Embrace Corporate Rescue for Business Sustainability
The Commissioner for Insolvency and Receivership, Ms. Caroline Egesa, has underscored the importance of building business resilience through enhanced financial literacy and strong corporate governance structures. Speaking during the launch of Cohort 4 of the Business Recovery and Advisory Program (BRAP) at the Uganda Business Facilitation Center, Kololo, Ms. Egesa noted that many enterprises continue to collapse due to inadequate entrepreneurial and management skills.
“There’s a lot of competition that happens, but with this program, you are going to go away better, with more knowledge and a lot of understanding,” she remarked.
Ms. Egesa highlighted that the high failure rate of companies in the region can be traced to poor financial management practices and the absence of sound corporate governance frameworks. These weaknesses, she explained, not only limit business growth but also threaten the solvency and long-term viability of enterprises.
She emphasized the critical need for sensitization on corporate rescue mechanisms as a sustainable solution for struggling companies. “Corporate rescue should not be seen as a sign of failure but as an opportunity for renewal and continuity,” she added.
The Commissioner further praised the impact of the BRAP initiative, noting its proven success in transforming business practices across previous cohorts. “This BRAP Program is built on a foundation of proven success; we had cohorts 1, 2, and 3, and that is why we are here for cohort 4, because of the impact and transformational nature of the program,” Ms. Egesa said.
