The time it takes to register a business has significantly decreased, according to the Uganda Registration Services Bureau (URSB), and is currently only three to four hours on average. The URSB registrar general, Ms. Mercy Kainobwisho, highlighted the implementation of the Online Business Registration System, citing the automation of services as the reason for this noteworthy improvement.
The Online Business Registration System has expedited the registration process, cutting down on turnaround time from several days to only a few hours, as per the information provided in the 2022–2023 Annual Report. Smooth registration transactions are made possible by the system’s complete integration with the Uganda Revenue Authority and the National Identity and Registration Authority.
The use of business registration services increased noticeably, with an average growth rate of 58.4 percent, as the Online Business Registration System stabilized over time in spite of initial difficulties. While registering a business name now takes only 30 minutes as opposed to the previous 24 hours, company registrations were completed in three to four hours throughout the reporting period.
Furthermore, the process of registering legal papers has been accelerated to just one hour, and the efficiency of immediate searches and document verification has been significantly enhanced.
Because of the Online Business Registration System’s successful implementation, the percentage of services that are automated has increased from 65 to 85 percent. The number of new firms registered with URSB has increased by 28 percent as a result of this breakthrough, from 18,614 to 23,789.
The number of business names reserved increased significantly by 203%, however the number of company names registered decreased by 2%. The research also shows a notable increase in voluntary winding-up procedures and corporate dissolutions, suggesting a changing business environment.
