800,000 Businesses to be enlisted by the Uganda Registration Services Bureau (URSB) to sponsor the Formalization of Micro, Small and Medium Enterprises in Uganda
By Abdul Rahman Bangura-
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- The initiative held a stakeholder engagement for the Greater Masaka region targeting commercial officers, business communities, and business and business support organizations to sensitize them with the information, training on requirements for formal registration, and reasons to register in line with the country’s national development.
The URSB Manager Planning and Research – Ssebudde Baker disclosed that they are to hit this goal through the ‘KIRI EASY’ campaign which is aimed at to register these businesses online. He let out that the ambition is assembled on three pillars; collaboration as they work with the private sector, the business community, and other agencies so that they can promote these enterprises.
“Currently if you look at the setup of our economy, the informal sector is still predominant and is estimated at around 53.5%. This is still large and has its disadvantages. For example, it becomes very hard for informal businesses to access funds and credit. Book keeping is a challenge when it comes to informality. That’s why we have come out massively to conduct this campaign in the belief that in the next three years, we are going to register over 800,000 businesses across the country,” Ssebudde spoke out.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent