SHS8BN FEES STORM! COSASE Queries Five Big Companies Over Unpaid URSB Dues
MPs question selective enforcement, demand answers on government investments as firms owe billions in registration fees
The Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has raised concerns over the legality of transactions involving five companies with Shs8.018 billion in outstanding registration fees, warning that failure to follow statutory procedures could expose government investments to losses.
The committee, chaired by Kyadondo East MP Muwada Nkunyingi, raised the concerns during a follow-up meeting with the Uganda Registration Services Bureau (URSB) on Thursday, October 29, 2026. The inquiry is examining how URSB processed transactions involving Roko Construction, Tropical Bank, Speke Resort Convention Centre, Oil Palm Buvuma and Horyal Investments Holding Company Limited despite outstanding registration fees.
URSB reported Shs8.018 billion in unpaid fees relating to the five companies. However, of the companies invited to appear before the committee, only Roko Construction and Tropical Bank attended. COSASE subsequently issued summons to Speke Resort Convention Centre and Oil Palm Buvuma, while Horyal Investments was invited to appear on November 11. The Minister of Justice and Constitutional Affairs, who had been expected to attend Thursday’s meeting to clarify concerns about interdictions and administrative decisions at URSB, requested to appear at a later date.
The committee is investigating whether the bureau lawfully processed the transactions without collecting the required fees and whether an undertaking by the Ministry of Finance to pay the outstanding amounts could justify departing from statutory procedures. The outstanding amounts discussed included approximately Shs3 billion for Horyal Investments, Shs2.071 billion for Roko Construction, Shs2 billion for Speke Resort Convention Centre, Shs599 million for Oil Palm Buvuma and Shs347.035 million for Tropical Bank.Lugazi Municipality MP Richard Ssalongo Senteza questioned whether the law was being applied equally, arguing that large companies should not receive preferential treatment because of their connections to government.
Senteza challenged URSB to explain why smaller businesses faced account freezes for failing to meet annual filing requirements while companies with substantial investments and unpaid registration fees continued operating. He also asked whether the bureau had taken steps to recover the outstanding money before Parliament intervened.Moroto District Woman MP Stella Atyang similarly questioned what she described as differences in the enforcement of registration requirements against small businesses and large companies.She asked URSB to provide documentation showing the steps taken to recover the outstanding fees, arguing that the bureau needed to demonstrate whether it had fulfilled its mandate or failed to protect government revenue.
Bamunanika County MP Robert Ssekitoleko questioned whether URSB had included the affected companies among businesses previously identified for non-compliance with registration requirements. He also raised concerns about the repeated involvement of Ministry of Finance Commissioner Moses Kagwa in transactions involving the companies, asking why the same official appeared to represent government interests in multiple investments.
Nkunyingi said the inquiry was examining three principal issues: the failure to pay registration fees, the processing of potentially incomplete applications, and the legal implications of registering transactions without satisfying the applicable requirements. He said the concerns extended beyond unpaid fees to the protection of government shareholding in the affected companies.The committee chair warned that government could face difficulties enforcing its ownership rights or recovering its investments if shareholding arrangements were not properly documented through legally compliant registration processes, particularly if a company encountered financial difficulties.
The committee also questioned the Ministry of Finance’s role in directing the transactions and whether the necessary approvals and statutory requirements had been fulfilled. Buzaaya County MP Martin Muzaale questioned the capacity of government officials tasked with representing the state in numerous companies, citing reports that Moses Kagwa was involved in more than 20 companies.
He warned that government could lose substantial investments if its representatives failed to monitor shareholding arrangements, dividends and company performance. Muzaale cited Roko Construction, where he said government held a 91 per cent stake, as an example of the need to establish whether public investments were generating returns.
He also questioned the status of government funding for other companies and called for scrutiny of how exemptions and investment decisions were approved. Nkunyingi said the committee would continue examining the transactions and the respective roles of URSB and the Ministry of Finance before determining the appropriate corrective action.
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