By Leonard Kamugisha Akida,
KAMPALA
The Uganda Registration Services Bureau (URSB) has announced measures to help struggling businesses stay afloat. The revelation was made by URSB’s Director for Insolvency and Receivership, Robert Mugabe, during the launch of the 2025 Business Rescue and Aftercare Program (BRAP) training held at the URSB headquarters in Kololo, Kampala, on Monday.
According to Mugabe, numerous businesses in Uganda face closure because they are struggling to meet their financial obligations among other business strains. He cited issues such as market monopolies, poor record-keeping, lack of business audits, weak governance structures, and inadequate checks and balances as major contributing factors to business failures.
To address these challenges, URSB has launched the 2025 Business Rescue and Aftercare Program to equip business owners with the necessary skills to navigate hardships and avoid insolvency.
“I must say that the closure is no longer an issue. People are understanding that they can keep in business, they can revive. So the closure is reducing,”
He explained that before the introduction of BRAP, many businesses in Uganda either liquidated or disappeared due to financial mismanagement. He said that the program has helped many businesses to remain operational, and urged entrepreneurs and business owners to actively participate in BRAP to safeguard their businesses from collapsing.
“We are now immunizing businesses that they should not collapse at all, collapsing of business is now a choice. There are now interventions that businesses do not collapse, and collapsing is basically about failing to know what to do,” Mugabe stressed.
Additionally, business owners have been urged to formalize their enterprises and ensure compliance with legal and financial regulations. This, he said, would increase their eligibility for training programs and financial support services.
Mugabe also advised entrepreneurs to consider partnerships and involve independent professionals to strengthen their businesses and mitigate insolvency risks.
James Bulenzibuto, the Chief Executive Director, Elimu Trust, Eastern Africa and Public Relations Officer of Kyambogo University said during a keynote speech that such initiatives provide entrepreneurs with learning opportunities, networking avenues, and insights on compliance, ultimately enabling them to build viable and sustainable businesses.
“These are businesses from different sectors, and regions, so when they come here, its an opportunity for them to learn about each other’s business and see how they can support themselves.This is not just about learning, but it is also about creating meaningful partnerships,” Bulenzibuto noted.
Babra Kaikara, founder of Imaro Innovations, which specializes in coffee products, expressed her optimism about the program. She hopes to gain knowledge on company registration and identify potential partners to help grow her business and expand the market for her coffee products.
About BRAP
The 2025 Business Rescue and Aftercare Program is part of URSB’s broader efforts to support entrepreneurship and ensure business sustainability in Uganda. The five-day training commenced on Monday, February 24, 2025, and will conclude on Friday, February 28, 2025, with participants receiving certificates of participation.
