LIST: Over 800 Ugandan Companies Banned (See Details)

Up to 875 Ugandan companies have been blacklisted by authorities over non-compliance. The companies have been scrapped off the register of companies.

Most of the companies were registered as far back as the 1980s, 1990s and the early 2000s.

The companies have been blacklisted by the Uganda Registration Services Bureau (URSB), which is responsible for registering companies in the country.

According to a notice issued by URSB, whose registrar general is Mercy Kainobwisho, the striking of the companies off the register was due to their failure to file their annual returns as required by the Companies Act 1 of 2012.

That despite several reminders, the companies failed to comply, prompting the registration agency to strike them off the register.

“Pursuant to section 134(5) of the Companies Act 1 of 2012, on 20th March 2023, URSB published a notice requiring all companies to file their annual returns,” read the notice in part.

“Companies that fail to file annual returns for five years were required to file a statement of solvency and show cause why they should not be struck off the register.  In accordance with section 134(6) of the Companies Act, notice is hereby given that 875 companies have been struck off the register.”

URSB has vowed to strike more companies off the register. “We shall continue to review our records and identify other non-compliant companies for action. URSB notice striking companies off the register for failure to file company annual returns 2023.”

You can see the list of banks making huge profits and those making huge losses Here.

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