URSB Sensitises Mbarara Businesses on Using Movable Assets to Access Credit
Businesses and entrepreneurs in Mbarara City have been encouraged to use movable assets such as vehicles, livestock, machinery and farm produce to access affordable credit through the Security Interest in Movable Property Registry System (SIMPO).
The sensitisation workshop, organised by the Uganda Registration Services Bureau (URSB) at Silverback Hotel, was attended by traders, SACCO leaders, farmers, money lenders, financial institutions and other business owners seeking to better understand secured lending and the SIMPO system.
During the engagement, URSB SIMPO team explained how movable property can be registered as collateral to help individuals and businesses secure financing without necessarily relying on land titles. Participants were also trained on registration processes, searches and compliance requirements under the SIMPO system.
The initiative is part of URSB’s ongoing efforts to improve financial inclusion and expand access to credit, especially for small and medium enterprises. Similar sensitisation activities have previously been conducted in different parts of the country including Hoima and Mbarara as part of efforts to strengthen confidence in secured lending.
Participants welcomed the training, noting that many business owners have valuable movable assets but limited information on how to use them to access financing.
URSB noted that the SIMPO system continues to support business growth by reducing borrowing barriers and improving transparency in credit transactions. The Bureau also highlighted the system’s integration with the Motor Vehicle Registry, which has helped simplify collateral registration and verification processes.
