At least 186,000 companies have been struck off the government register by the Uganda Registration Services Bureau(URSB) for failure to file returns.

According to a notice by the registrar of companies, those de-registered had not filed returns for five years.

“In accordance with Section 134(6) of the Companies Act 1 of 2012, notice is hereby given that 186,000 companies have been struck off the register,” the registrar of companies said in the notice.

He said that 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, adding that companies that had failed 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.

“We shall continue to review our records and identify other non- compliant companies for action.”

According to the registrar of companies, the list for all the companies has been availed on the URSB website.

The development means the de-registered companies cannot transact any business within Uganda.

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NILE POST