The Uganda Registration Services Bureau (URSB) has renewed its call to support struggling businesses through a stronger and more supportive bankruptcy system.

Speaking during the 8th Annual Insolvency/bankruptcy Conference held on Thursday April 10, 2025, at Sheraton Kampala Hotel, the Deputy Speaker of Parliament, Rt Hon. Thomas Tayebwa, urged Ugandans to stop viewing bankruptcy as failure.

“In today’s uncertain global economy, businesses especially small and medium-sized ones face many risks. bankruptcy is not a sign of failure but a useful tool for recovery, restructuring, and keeping businesses running,” he said.

The Registrar General, Mercy K. Kainobwisho, said the conference was focused on changing how people think about bankruptcy.

“We want to shift the story from shame to strategy. So far, we have trained over 500 businesses on how to protect themselves,” she noted while launching the third edition of the insolvency Journal.

Representing the URSB Board Chair, Board Member Lydia Aliwonya said the Bureau is working to support the national development plan by helping businesses recover.

“A strong bankruptcy system is important for business recovery and economic growth,” she said.

She added that it is important to train people with practical skills in business rescue and management.

Guest speaker Ms. Manchadi Kekana from ENSafrica said having a strong bankruptcy system helps keep the financial sector stable, especially when debt levels are high.

“Judges play a key role in making sure the business rescue process is fair and transparent,” she explained.

She called on leaders to balance the rights of creditors and the protection of other business stakeholders to boost investor trust and economic growth.

Mr. Paul Kasami from Ligomarc Advocates spoke about handling cross-border bankruptcy. He said businesses that operate across countries need special laws and cooperation between regulators.

“We need to focus on training, better coordination, strong leadership from regulators, and clear international rules,” he said. These, he added, are important for building trust and supporting recovery across borders.

This year’s conference was held under the theme “A Resilient Insolvency Regime: Balancing Financial Stability, Recovery, and Investment Strategies.”