Daily Monitor
Monday February 15 2021
Customers access financial services at a banking hall in Kampala on February 6 last year. Under the SIMPO Registry, people can access loans with movable assets, a shift from the traditional system. PHOTO/MICHAEL KAKUMIRIZI
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Although the business community in Uganda is embracing the Security Interest in Movable Property (SIMPO) Registry that is intended to drive financial inclusion through facilitating access to affordable credit, the limitations to credit, and the structural gaps in the generation, protection, commercialisation and enforcement of Intellectual Property (IP) are still hindering the growth of the financial and copyright industries.
The enactment of the Security Interest in Movable Property Act of 2019 was spearheaded by the Uganda Registration Services Bureau (URSB).