GFI and ACODE Release a Factsheet on the Status of Beneficial Ownership Laws in Uganda
Posted on: 2025-07-28 09:00:51
Global Financial Integrity (GFI), in partnership with the Advocates Coalition for Development and Environment (ACODE), has released a new factsheet titled "Status of Implementation of Beneficial Ownership Laws in Uganda." This brief presents a clear and simple summary of Uganda's current legal and regulatory framework for beneficial ownership (BO) transparency.
The factsheet focuses on the major legislation and regulations governing beneficial ownership declarations in Uganda. These include significant sections from the revised Companies Act, the Anti-Money Laundering Act, and other supporting Regulations. It also describes how relevant authorities, primarily the Uganda Registration Services Bureau (URSB), receive and manage BO information, as well as the systems in place to ensure disclosure compliance and correctness.
The factsheet summarizes major changes in recent years, including actions taken to improve corporate transparency and reporting standards for organizations from various sectors, particularly in high-risk areas such as extractives. It also evaluates the current state of implementation, identifying both progress and challenges in making beneficial ownership information fully available, verifiable, and enforceable.
"This factsheet is a vital resource for policymakers, civil society, the media, and private sector actors committed to enhancing transparency and combating illicit financial flows," stated Philip Gichana of GFI. Access to accurate BO data is crucial in the fight against corruption, tax evasion, and financial crime.
“The factsheet provides useful information on notable progress that Uganda has made in implementing beneficial ownership (BO) laws, and aligning itself to international requirements of taking bold steps to combat financial crimes.” Mr. Onesmus Mugyenyi, Research Fellow, ACODE.
GFI and ACODE hope that this paper will help to inform policy discussions and advance reforms targeted at increasing beneficial ownership transparency in Uganda.
--------
For media inquiries, please contact:
Jane Namubiru (ACODE) - communications@acode-u.org Or Dennis Kabia (GFI) - dkabia@gfintegrity.org
PDF Version