The Security Interest in Movable Property Registry System (SIMPO) is a digital platform managed by the Uganda Registration Services Bureau (URSB). It allows individuals and businesses to register security interests in movable property. Through SIMPO registration in Uganda, borrowers can use assets such as vehicles, livestock, crops, furniture, or electronics as collateral for loans.
Why SIMPO Registration Matters
In the past, many small businesses could not access loans because they lacked land titles or permanent buildings. SIMPO changed this reality by giving legal recognition to movable property as collateral. As a result, lenders gain confidence, while entrepreneurs and SMEs access credit that supports growth.
Registration also ensures transparency. Once a notice is filed in the registry, it gives public notice of the security interest. This reduces fraud, overlapping claims, and disputes between lenders.
Who Can Register
Both individuals and institutions can carry out SIMPO registration in Uganda. Registered users include:
- Financial institutions such as banks and SACCOs.
- Businesses that offer credit facilities.
- Individuals who use movable assets as collateral.
- Agents, law firms, and other accredited users.
Public users without accounts can still search the registry, but they cannot register, amend, or cancel notices.
The SIMPO Registration Process
To register on SIMPO, follow these steps:
- Create a Client Account – Visit simpo.ursb.go.ug and open an account.
- Generate a Payment Registration Number (PRN) – This is used for paying registration fees.
- Select the Notice Type – Options include:
- Initial notice (when creating a new security interest).
- Amendment (when making changes).
- Default enforcement.
- Discharge (when a loan is fully repaid).
- Disposal or distribution notice.
- Objection notice.
- Submit the Required Information – Provide details about the borrower, lender, and the movable property used as collateral.
- Complete the Payment – Pay the fees through URSB’s designated payment channels.
- Confirmation – Once approved, the notice appears in the online registry for public access.
Benefits of SIMPO Registration
- Access to credit – SMEs and individuals can borrow without needing land titles.
- Transparency – Public notices reduce fraud and conflicts.
- Efficiency – The online platform makes the process quick and simple.
- Legal protection – Both lenders and borrowers gain formal recognition of the agreement.
