QMS LAUNCH

The QMS launch, held at the Uganda Business Facilitation Centre, was led by the Registrar General, Ms. Mercy K. Kainobwisho, who reaffirmed URSB’s commitment to excellence and continuous improvement in service delivery.

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URSB and World Bank explore partnership to strengthen the Insolvency framework

The Uganda Registration Services Bureau hosted Ms. Antonia Menezes, Senior Financial Specialist for Insolvency and Debt Restructuring from the World Bank Group, in discussions aimed at enhancing Uganda’s business rescue economy.

Registrar General Ms. Mercy K. Kainobwisho welcomed the visiting expert, highlighting Uganda’s efforts to create a conducive environment for investors and SMEs. “We have Business Rescue mechanisms in place and our secured transactions system enables SMEs to use chattels to access finance,” she noted.

Ms. Kainobwisho outlined key areas requiring support, including capacity building for insolvency practitioners and judicial officers, evaluation mechanisms for emerging assets like digital assets and intellectual property, and legal reforms aligned with international standards. She emphasised the need for innovative financial instruments, improved data systems for monitoring post-commencement financing, and incorporation of artificial intelligence in operations.

Ms. Menezes expressed appreciation for the warm reception, noting that the World Bank Group advises governments globally on insolvency and alternative dispute resolution. “We interest ourselves with key market challenges and identify where we can offer support,” she said.

The engagement focused on exploring partnerships and technical support to address challenges in insolvency reforms, secured transactions, and the collateral registry system.