East African Business Week reports it is hoped the new one-stop business registration and licencing procedure will simplify the process of registering a business and boost Uganda in its ranking in the annual global Doing Business Survey.
HumanIPO reported in February Kenyan entrepreneurs seeking to register their companies with the government would be able to do so online following the launch of a web-based platform called Incorporator.
Uganda’s e-registry portalwill be run by the Uganda Registration Services Bureau (URSB), supported by the World Bank Group.
Minister of finance, planning and economic development Maria Kiwanuka, who was present at the launch, said the portal is expected to improve transparency in government and regulatory compliance, as well as increase revenue through participation of greater small and medium-sized enterprises (SME) in the formal sector.
“This is expected to attract high quality investments and create better jobs for Ugandans,” Kiwanuka said.
US$10 million has been allocated to the URSB for automation of business registration and licencing processes, after the Ugandan government concluded talks with the World Bank for a US$100 million line through the bank’s Competitive and Enterprise Development Project (CEDP).
The e-registry portal will also provide investors with easy access to comprehensive information on all the licencing requirements for business activities in the country.
Investors can access the portal for detailed information on application forms and contact details of regulatory bodies.