URSB Earns National EITI Compliance Certificate
The Uganda Registration Services Bureau (URSB) has been formally recognised by the Uganda Extractive Industries Transparency Initiative (UGEITI) for meeting the 2023 EITI Standard submission and data quality assurance requirements.
The recognition rewards URSB’s contribution to advancing transparency in Uganda’s extractive industries a key requirement of the global EITI framework which promotes accountable management of natural resources such as oil, gas and minerals.
UGEITI’s Fourth EITI Report, covering fiscal year 2022/23, was recently launched in Kampala and highlights the strengthening of disclosure practices and stakeholder engagement under the 2019/2023 EITI Standard.
The recognition of URSB is significant because the bureau is responsible for maintaining the Beneficial Ownership Register; a central database of individuals who ultimately own or control companies operating in Uganda.
This register supports EITI’s core aim of revealing real company ownership to curb opaque business practices and illicit financial flows, particularly in the extractive sector where contract and ownership transparency remain areas of improvement.
While Uganda has made moderate progress in implementing EITI with a validation score of 78 percent, challenges persist, especially in timely company disclosures and public access to license and contract information.
Recognising URSB’s compliance efforts could boost public confidence, attract investment, and foster stronger governance in natural resource management, as the country continues its transition toward full transparency and accountability.
