(UPDATE)How do I handle my tax obligations during COVID-19?

Question: What can I do if I am having trouble paying my taxes while my business suffers during COVID-19?

Answer: Do not fear! The Government of Uganda is taking action to help small and medium businesses like yours. The Uganda Revenue Authority (URA) is offering most services online – to keep you safe, and to keep you from having to move during a time when it is important to stay at home.

Here is what you need to know:

  • Taxpayers whose returns were due by 15th April 2020 or 15th May 2020 and who are unable to file are granted an extension up to 31st May 2020. This relates to monthly tax types namely VAT, PAYE, Local Excise Duty, Withholding Tax and taxes under the Gaming and Lotteries Act.
  • Taxpayers whose accounting date is 31st October and were unable to file corporation tax returns by 30th April 2020 have been granted extension to file returns. The new filing date is 31st May 2020.
  • Follow this link to file returns online (go to self-service tab, how to use e-services, returns)

Payment of Taxes under Installments

Taxpayers who restructured their payments to resume in May 2020 and are unable to meet their obligations during this period have an option to further reschedule the payments to resume in June 2020. Please note that this applies to taxpayers whose businesses have been affected by COVID-19 restrictions.

Pay from home using online platforms

  • Online Banking/EFT/RTGS/Online Debit Banks,
  • Agency Banking and use of VISA/MasterCard for Stanbic Bank, ABSA and UBA,
  • PayWay services across the country,
  • Mobile Money (MTN and Airtel).

Stay home and stay safe!

Important Contact Information

URA remains operational to offer services that cannot be accessed online. Visit https://www.ura.go.ug. For inquiries and feedback, email: services@ura.go.ug or call (256) 417-442097, 0417444602 or Toll-free lines on 0800117000 or 0800217000. Also go to URA social media pages: Facebook (https://www.facebook.com/URApage/), and Twitter (@URAuganda)

Emitemwa gyange egy’emisolo njikola ntya mu kaseera kano aka COVID-19?

Ekibuuzo:  Kiki kyensobola okukola bwenfuna obuzibu okusasula emisolo emilimu gyange bwejiba tejitambula bulungi mukaseera kano aka covid-19?

Ekiddibwaamu: Toba nakutya. Gavumenti ya Uganda elina enteekateeka okuyamba bizinensi entonotono nga eyo eyiyo. Ekitongole ky’emisolo empeereza ezisinga yziteeka ku mutimbagano, okkukuuma nga oli mulamu, n’okweewala okkutambuza mukiseera kino eky’okusigala awaka.

Bino byoolina okumanya:

  • Abawi b’omusolo nga baalina okuwaayo ebikwaata ku bizinensi zaabwe nga 15 april oba nga 15 May 2020 naye ngatebasobola babawadde obudde okutuusa nga 31 may 2020. Kino kikwaata ku misolo egisasulwa buli mweezi nga VAT, PAYE, Local exercise duty, withholding tax n’emisilo egikwaata ku betting
  • Abawi b’omusolo nga ebitabo byaabwe babibala nga 31 october nga tebaasobola ku teekayo bikwaata ku corperation Tax nga 30 April 2020 baweereddwaayo ebbanga eddala. Kati balina okutuusa nga 31 May 2020
  • Genda wano okussaayo ebiwandiiko byo ku mukutu (self-service tab, how to use e-services, returns)

Okusasula emisolo mu bitundutundu

  • Abawi b’omusolo abakyuusa ensasula yaabwe nebasaba nti baddemu mu May 2020 nga tennafuna busobozi  kuddamu kusasula basobola okuddamu nebongezaayo okutuuka mu June 2020. Kino kikola eri abo abalina bizinensi nga zikoseddwa mu kiseera kino ekya covid-19

Sasulira ewaka nga okozesa omutimbagano

  • Online Banking/EFT/RTGS/Online Debit Banks,
  • Agency Banking n’okukozesa VISA/MasterCard ku Stanbic Bank, ABSA and UBA,
  • PayWay okweetooloola eggwa lyonna,
  • Mobile Money (MTN and Airtel).

Sigala ewaka weekuume nga oli mulamu!

Engeri gyotufunamu

URA yasigala nga nzigula bwooba oyagala empeereza nga tosobola jjifuna ku mutimbagano. Genda ku https://www.ura.go.ug. Nga olina kyeweebuuza oba kyoyagala okuyugamba, email: services@ura.go.ug oba kuba (256) 417-442097, 0417444602 oba 0800117000 or 0800217000 ezitali zaakusasulira


Taking your retail business online? Gain insights from the Country Manager of Jumia Food Uganda

Jumia Food Uganda

Are you planning on taking your retail business online? The COVID-19 Business Info Hub spoke with Mr. Timothy Mugume, Country Manager of Jumia Food Uganda, to understand how COVID-19 has affected online businesses and to give advice for entrepreneurs looking to shift their business online as a result of the pandemic.

What sorts of merchants does Jumia Food Uganda target to onboard?

Jumia Food Uganda looks to onboard merchants in two categories: 1) the service sector and 2) the manufacturing sector. The company works with both micro and larger enterprises and looks at main elements like internet connectivity and existing or potential for an online presence when assessing fit.

What sort of training does these merchants receive?

Jumia Food Uganda offers a number of training programs to onboard merchants through the Jumia Training Academy. The training programs, which are conducted both online and in-person, offer background on how to use the Jumia platform, conduct proper analysis of data provided by Jumia Food Uganda, site management, product management and improvement, and marketing and packaging, to name a few. Training is also set up in a way to enable different merchants to learn from one another. 

What challenges does Jumia Food Uganda face in onboarding merchants?

The challenges Jumia Food Uganda faces in onboarding merchants include language barriers with some of the merchants as well as the need for basic training in computer skills and how to use devices required to engage with the platform. There is also a tremendous need for financial literacy including basic recordkeeping and understanding the value of categorizing income and expenses to access credit lines.

How do merchants convert followers, viewers, or likes into real customers?

It takes a long time to convert viewers and likes into real customers. Jumia looks at the customer experience and customer acquisition. You need to look at smart channels, experiential marketing, and referrals when thinking about this. Leveraging partnerships with different players such as banks promoting online channels is also critical. In terms of customer experience, Jumia Food Uganda collects feedback constantly and makes changes based on that feedback to enhance the experience. It is also important to segment marketing for different channels – social media is a great tool to reach customers with specific messaging. Most importantly, make sure the product is the right one and that you have an assortment on offer. Choice, convenience, and price are key. Building trust has also enabled Jumia Foods Uganda to build a customer base that continues to grow.

What has the effect of the crisis been on orders?

In the first week of the crisis, there were still normal purchases such as for electronics, groceries, and essentials being made. In the second week, we saw a big uptick in big-ticket electronics like large TVs and refrigerators, which indicated that people began to understand that they would be staying in for a longer period of time. This has progressed to now the purchases of more essential items – grocery purchases have grown exponentially, as well as sanitizers and health-related items, which has resulted in giving priority to merchants selling essentials.

What new business skills can entrepreneurs learn to be successful?

New skills merchants would benefit from learning how to be more adaptable and problem-solve quickly. There needs to be a focus on producing goods that can be purchased not just by a small group of people around the merchants but by the whole country. Focusing on quality and packaging as well as understanding customer preferences is critical.

Jumia Food Uganda

Oteekateeka kuteeka bizinensi yo kumutimbagano? Entabiro ya bizinensi mu biseera bya covid-19 yayogeddeko ne Mwaami Timothy Mugume, country manager wa Jumia Food Uganda okutegeera engeri Covid-19 gyakosezzaamu bizinensi eziri ku mutimbagano awe nebannannyini bizinensi amagezi kungeri yokukyuusa bizinensi zaabwe okuzizza ku mutimbagano.

Bizinensi zangeri ki Jumia Food zeesimbyeeko essira okugatta ku mutimbagano?

Abantu ba bika bibiri; 1).Empeereza ezitali zimu  ne 2). Abaamakolero. Tukola ne bizinensi enene n’entono ku bintu nga okubayunga ku mitimbagano n’okubayamba okujiddukanya.

Mubatendeka mutya?

Nga tuyita mu Jumia Training academy, tubatendeka mu bintu ebiwerako.  Okutendekebwa kuno okukolebwa kumikutu oba mubuntu, kuyamba okumanya enkozesa yomukutu gwa Jumia, okwekkenneenya ebiwandiiko ebitali bimu ebileetebwa Jumia Foods, engeri y’okuddukanyaamu omukutu, okunonya obutale, ensabika n’ebilala bingi. Tuyigiriza abayizi okwetendeka oba okuyigira ku bannaabwe.

Kusoomoozaaki kwemuyitamu okuyunga abantu ku mukutu?

Waliwo obuzibu bw’olulimi n’abantu abamu okuba nti tebamanyi kukozesa byuuma bikalimagezi oba ebyuuma ebilala obiyinza okubasobozesa okukoze omutimbagano. Waliwo n’obuzibu bwa bantu obutakuuma bulungi biwandiika byanfuna yaabwe n’okwawula ennyingiza, ku nfulumya, amabanja n’ebila.

Abagoberezi bo, abakwaagala, abakulaba obafuula otya ba ksitoma abakuwa ku sente mubyotunda?

Kitwaala akabanga okutuuka ku kino. Jumia yyo etunuulira nnyo engeri gyofunamu kasitoma n’engeri gyomuyisaamu. Oteekwa okutunuulira emikutu emilala nga okulanga, abakwoogerako eri bannaabwe, . okukola emikago n’abantu abalala nga banka,  nga batumbula byebalanga ku mutimbagano nakyo kiyamba. Ku kikwaata ku ba kasitoma, Jumia Foods ekunnganya ebirowoozo okuva mu bakasitoma nekola enkyuukakyuuaka okusinziira kweebyo. Yawula biki byolanga . katinokugeza omutimbagano mulungi nga olina engeri gyosibyeemu obubaka . ekisinga obukulu, fuba okulaba nti ebintu kyolanga kituufu era kasitoma omuwa ebbeetu okweeloboza. Okweeloboza, okwanguyirwa n’ebbeeyi bikulu nnyo. Obweesigwa nakyo kiyambye Jumia okwoongera okuzimba n’okufuna bakasitoma ate nga bangi bakyajja.

Order zammwe zikoseddwa zitya mukaseera kano?

Mu wiiki eyasooka , tezaakosebwa nnyo. Abantu era baasigala bagula ebyamasannyalaze, ebikozesebwa awaka, n’ebilala. Mu wiiki ey’okubiri, twaalaba nga abantu bagula nnyo ebyamasannyalaze ebinene nga TV, ekitegeeza nti abantu baali bategedde nti baakusigala awaka okumala ebbanga ddene. Kati bagula nnyo ebintu byawaka, sanitizer, ebintu ebikwaata kuby’obulamu. Kati naffe essira tulitadde kubantu abatunda eby’ekika ekyo.

Bukodyo bwa bizinensi ki obupya omuntu bwaasobola okwettanira okukuza bizinensi ye?

Bayiga obukodyo nga okukyuuka n’embeera, okumala ebizibu amangu n’ebilala. Bayige okukola ebyamaguzi ebigulibwa abantu abangi okusinga ebyo ebigulwa abantu abolubatu abo abayinza okuba nti bamanyi abitunda wabula eggwanga lyonna. Omutindo n’ensabika no’kumanya kki kasitoma kyaagala nakyo kikulu.


Nze nga omukozesa nsobola okwongezaayo emitemwa gya NSSF gyenina okusasula  mukaseera ka aka covid-19?

Nze nga omukozesa nsobola okwongezaayo emitemwa gya NSSF gyenina okusasula  mukaseera ka aka covid-19?

Ekibuuzo: Sirina bulungi sente mu buzinensi yange nga omukozesa era ssisibola kusasula mitemwa gyabakozi bange egya NSSF, Nkole ntya?

Ekiddibwaamu:  Teweelariikirira. Mukaweefube wokuyambako gavumenti okutetenkanya eby’enfuna ebigootaanye olwa covi-19, National social security Fund (NSSF) eriko enteekateeka gyekoze okuyambako amakampuni gw’obwannannyini agakoseddwa ennyo

Byolina okumanya:

  • Tuwandikire ku amnesty@nssfug.org mangu ddala otunnyonnyole embeera yo  nga otulaga bulungi engeri covid-19 gyakukosezzaamu osabe tuddemu okutegeka ensasula yo eya NSSF
  • NSSF ejja kweekennenya era bweneeba ematidde, ejja kkolagana naawe mukkaanye kungeri gyonoosasulamu emitemwa gy’emyeezi esatu nga tekuli ngassi. Naye emitemwa gy’emyeezi gyotasasudde jijja kusigala nga jikubanjibwa era ojja kujisasula mungeri etakukaluubirize
  • Abakozesa bajja kweetaagibwa okuwandika endagaano y’okukkiriza okusasula emitemwa gyaabakozi baabwe eja NSSF
  • Bwooba tosabye oba nga kampuni yo tegwaanidde, kikukakatako okusasula emitemwaajo ejja NSSF nga olwa 15 olwa buli mweezi telunnatuuka, nolweekyo, tuukirira mangu NSSF Uganda.

 

Abakozesa abeetaaga okumanya ebisingawo mutuukirire abantu bano

  1. NSSF Compliance Manager Mr. Rwakabureeta Horace.

email: hrwakabureete@nssfug.org

  1. NSSF Head of Business Mr. Sajjabi Geoffrey

email: gsaffabi@nssfug.org

 

Call center telephone number: 0800286773 etali yakusasulira

Email: customerservice@nssfug.org

 

References:  https://www.nssfug.org/312/News/NSSF_Extends_Amnesty_to_Businesses_Facing_Economic_Distress

Question:  I do not have enough cashflow in my business due to COVID-19 and cannot pay the NSSF contributions of my employees.  What can I do?

Answer:  No reason to panic! In support of the Government of Uganda’s interventions to combat the effect of COVID-19, the National Social Security Fund (NSSF) has put in place measures to ease the cashflow burden of affected employers/businesses in the private sector.

What you need to know:

  • Reach out via email to amnesty@nssfug.org as soon as possible to explain your situation, clearly indicating how the COVID-19 pandemic has affected your business and ask to reschedule your NSSF contributions.
  • NSSF will review and if satisfied, will work with you, on how to reschedule payment contribution for three (3) months without accumulating penalties. However, contributions for the affected months will remain outstanding and be payable by the employers through a convenient payment plan.
  • Employers will be expected to sign a deed of settlement (agreement to pay) to continue to meet their obligation to pay social security contributions for their employees.
  • If you do not apply or your business is not eligible, you still need to pay the NSSF contribution by the 15th day of every month, so reach out now to NSSF Uganda.

 

Employers who require more information should contact the following:

  1. NSSF Compliance Manager Mr. Rwakabureeta Horace

email: hrwakabureete@nssfug.org

  1. NSSF Head of Business Mr. Sajjabi Geoffrey

email: gsaffabi@nssfug.org

 

Call center telephone number: 0800286773 toll free

Email: customerservice@nssfug.org

 

References:  https://www.nssfug.org/312/News/NSSF_Extends_Amnesty_to_Businesses_Facing_Economic_Distress


Why business development and training matter for SMEs

The COVID-19 Business Info Hub spoke with Tony Otoa, Head of Enterprise Development at Stanbic Bank Uganda to understand how the Stanbic Business Incubator is meeting customer needs in this time of crisis.

COVID-19 will change how we think, how we relate, how we do business. If there was ever a time for businesses to focus on business productivity and sustainability, it is now. We need to make this possible for them.

What are the main business development needs of the SME sector in the face of COVID-19 and how is the Business Incubator serving these needs?

The biggest challenges for them are business survival – how to survive and sustain themselves over the next phase – and cashflow. Businesses need to understand how to take care of their businesses in terms of cash flow. The Stanbic Business Incubator has had to rethink our program, going away from the typical classroom lecture mode into online tutorials and lectures. This has been received with a lot of hope, because right now, businesses need this information on financial management, governance, and other issues critical to business survival more than ever.

Are there any other initiatives the Business Incubator is undertaking?

Stanbic Bank, in partnership with African Management Institute, has set up a program that is going to be supporting businesses within our system to become more resilient, more adaptable. The Business Survival Bootcamp takes care of the immediate demands of businesses in terms of how to run and operate. The program is free and open to entities within the Business Incubator.

How can businesses get in touch with the Business Incubator?

Call us on: 03122226700, 03122224873 or Email us at: OlukaE@stanbic.com, AyaaN@stanbic.com, and OtoaT@stanbic.com

.

Business Survival Bootcamp

To help African businesses continue to thrive, AMI is offering a free webinar series, with a ‘COVID-19 Business Survival Toolkit’.

Sign up

How Stanbic bank is meeting customer needs in this time of crisis

The COVID-19 Business Info Hub spoke to Stephen Segujja, Head of Enterprise Banking at Stanbic Bank Uganda to understand how the bank is meeting customer needs in this time of crisis.

We will be there for you as a bank. We have supported you when things were going well, and we will support you in this difficult time to get back on your feet

Highlights

How has the SME sector been affected by COVID-19?

First, about 4,900 companies were actually completely closed. We are talking about 80 to 90% of SMEs. Second, from a lending perspective, we have seen lending to SMEs drop by over 75%. Third, looking at transactions, the number of transactions has dropped drastically by almost 60 to 70%. This all speaks to the impact that COVID-19 has had on the sector.

How is Stanbic Bank supporting its SME customers during this time of crisis?

Stanbic Bank has developed a number of interventions including:

  • Debt relief for up to 12 months, depending on the sector
  • POS machines to facilitate cashless transactions
  • Access to purchase goods from China through a super-agent to avoid the need for travel
  • Financing remains available for businesses still operating in the supply chain
  • Enterprise Online platform to facilitate payments

How can businesses get in touch with Stanbic Bank?

To restructure an existing loan, call your Relationship Manager or Business Banker, or connect with us at 0312226600 or via email at enterprisedirectug@stanbic.com. We also have our social media platforms open open – Twitter  (https://twitter.com/StanbicUG), Facebook (https://www.facebook.com/StanbicUg) and blog (https://blog.standardbank.com/uganda) and  website www.stanbicbankuganda.com. We can also be reached 24 hours a day at our toll-free line: 0800250250. Most branches remain open and are operating from 9am to 3pm, Monday through Saturday.

Interview with Stephen Stephen Segujja, Head Enterprise Banking

Q: Can you please introduce yourself?

My name is Stephen Segujja and I am the Head of Enterprise Banking, where the SMEs and local businesses sit, at Stanbic Bank.

Q: Can you tell us about the SME sector in Uganda?

The SME sector in Uganda is basically clients who are involved in the day to day running of businesses, local businesses in and around the country. They cut across various sectors. The sectors are oil & gas, manufacturing, trade and commerce, educational sector, the NGOs, and also people involved in infrastructure. Also, not forgetting clients in agriculture and agribusiness. SME stands for small and medium enterprises. What we mean by small is those enterprises who are mainly beginning businesses. They have left the startup stage but are in business between six months and about two years. These are businesses where they have invested some capital between 100,000 to about 3 million shillings. Looking at the people they employ, these enterprises employ between 1 and 5 people. They are small in nature but have potential for growth. What we mean by medium enterprises, they have invested quite a lot of capital in their businesses, from about 3 million all the way up to 500 or 600 million shillings. Looking at how many people they employ, it is between 5 to 15-20 people. We have those that have left the medium stage, which we look after as well. They have usually invested between 1 billion shillings up to 3 or 4 billion shillings. They now employ between 50 – 100 or 150 staff in their businesses.

Q: What challenges are SME clients facing during the COVID 19 crisis?

Looking at COVID and the times we are in, I don’t think there is a segment that has been as hard hit as the SMEs. The reason I say that is that SMEs are involved in value chains, so even when you find a startup, you find that these are businesses that are usually at the end of the value chain or involved in distribution or small manufacturing. The reason why COVID has hit these people the most is because when we talk about disruptions in these value chains, the suppliers are already affected, these supply chains have been cut off much earlier. They were not able to import raw materials in time. The second one is from a local perspective, when we talk about lockdown, you find that because of social distancing, these larger companies have closed down and are not able to supply SMEs. Because of no movement of people, although there is movement or cargo, you find that cargo has not been able to be supplied to the businesses, who then cannot supply it to the final person. So that is in part where the challenges are. Second, looking at the value chain, you can also look at cashflows coming in. There are no buyers at this time, so businesses do not have cashflows immediately. They cannot pay their staff, they cannot pay their suppliers. They have not been able to have the cashflow to purchase and to then supply the final person. This is why the SMEs find themselves in the heat of this pandemic.

Q: Can you give us a quick snapshot?

Looking at the number of companies that actually closed, about 4,900 companies were actually completely closed. We have about 280 companies operating now. We are talking about almost 80-90% of these SMEs actually closed. The second is access to the markets; even from a lending perspective, we’ve seen lending to SMEs drop by over 75%. Third, looking at the number of transactions these SMEs are doing, you find the number of transactions has dropped drastically by almost 60-70%. This all speaks to the impact that this has had on the sector.

Q: What initiatives is SBU undertaking to support SMEs at this time? Please be as specific as possible on what the bank is planning to do by sector.

It is times like these that your financial partner comes in strong to support you. Our clients, our SMEs in this economy, this is when they need us most. There are many things we have done to support demand:

  1. With support of the central bank, we have been able to provide debt relief to our customers. They have allowed us up to 12 months. This 12 months is depending upon the sector because the sectors have been hit differently. It could be a sector like tourism, which will be hit harder for much longer, or it could be a sector like health, which has not been hit as hard. So we have provided moratoriums to support our customers until they are back on their feet.
  2. Because of social distancing, we are supporting our clients that are still operating by helping them to collect their money. To protect the clients and their customers, we have put together Point of Sale (POS) machines, so the clients do not need to go with cash and touch and give out cash. They can go with a card and purchase goods without cash exchanging hands (given the risk of cash transmitting COVID-19).
  3. A third is a solution around FlexiPay. We allow our clients to be able to go to any of our clients to be able to pay.
  4. We also have many agents spread across the country. If a client cannot come to a branch, they can go to an agent to transact.
  5. Another is around clients that are still importing. Cargo has been allowed to continue to come in. Our clients used to travel to China, India, or Dubai. 90% of our goods, especially in trade and commerce, are from China. We have a super-agent in China – Zhejiang International Trading Supply Chain Co Ltd, also known as Guomao that can receive orders without the client actually traveling to China to purchase goods. The goods are put on a ship and sent to Mombasa and then come to Kampala.
  6. Lastly, the economy has not yet closed, and there are some opportunities we have seen in priority sectors, those around health, construction, agriculture. We have our doors open for clients in those sectors that need financing. We continue providing financing to those clients. In the education sector, we have allowed some of the schools to come and access financing to be able to pay teachers.
  7. In regard to our clients who are still in the supply chain, we are providing bridge financing based on invoices so businesses can continue operating. Once receivables come in, they can pay off those loans. We are providing invoice discounting and contract financing around this time. Some clients need small overdrafts to continue running their businesses, paying their workers, running their factories, paying utilities. We are still supporting those clients needing overdrafts around this time. We can provide that within 48 hours.
  8. In terms of enabling our clients to pay their workers, their utilities, all the payments that they have, we have provided a platform called Enterprise Online where they can actually access that payment using the platform.

Q: If an SME needs to refinance an existing loan with SBU, what steps should they take? What other coping solutions are available?

If a client has a running loan with us, the first thing that we have done following support we received from the central bank, we have asked clients to contact their Relationship Manager (RM) or Business Banker (BB) or the branch closest to them to apply for this debt relief. It is important customers actually apply and tell us how many months they need this debt relief. We will do the assessment and come back to the client. We do an assessment and then give you a letter of consent with new terms and conditions and schedule payments to a later stage. If you can’t contact your RM or BB, there are numbers you can call to access someone from the bank who can help at: 0312226600 or we have an email address: enterprisedirectug@stanbic.com. We have also been very proactive. We have called up as many of our customers as we can to get updates, understand what they need, what support we can provide.

Q: How should customers engage with the bank (Call Center, Facebook, Twitter, SMS, etc.)? Have there been changes to branch opening, operating hours, staff availability, etc.?

We have our social media platforms open – Twitter  (https://twitter.com/StanbicUG), Facebook (https://www.facebook.com/StanbicUg) and blog (https://blog.standardbank.com/uganda). You can also contact us via website at www.stanbicbankuganda.com. We have adjusted our opening times in line with the government directive. We have shortened our time from 9am – 3pm, Monday to Saturday. Most of our branches are open. You can also contact us at our toll-free line, 24 hours: 0800250250.

Q: What can business owners do now to prepare for a new post COVID business environment?

I always tell people that situations come to allow you to rethink about your business. This is a time when I encourage business owners first of all not to panic. COVID has come but also COVID will go. One of the things is that our SMEs and businesses need to do is look at where they can create more efficiencies within their businesses, digitize within their businesses. Delivery has become the new norm with social distancing. These are things businesses will get used to. Embrace digital – it is very critical at this time. The second thing is around how to expand markets beyond here. Some opportunities have developed out of this. How do you look beyond operating just [in Uganda]? A final thing is to analyze, look at where you are sourcing from, and ask how you can use some of the tools that the bank has created to source goods.

We have a Business Incubator, where we offer non-financial services, support. I encourage our clients to [join the incubator]. It is free of charge. Come and register with us. Here we can discuss how to support you during this time. WE will be there for you as a bank, even in the hard times. We have supported you when things were going well, and we are happy to support you in this difficult time to get back on your feet.


I am having difficulty paying my microfinance loan. What can I do?

Question: What can I do if I am having trouble paying my microfinance business loan?

Answer: There is no need to panic! The Uganda Microfinance Regulatory Authority (UMRA) is taking action to help small and medium businesses right now. Contact your microfinance institution right away and find out what they can do for you concerning your loan repayment.

The Uganda Microfinance Regulatory Authority (UMRA) has instructed microfinance institutions and Money Lenders to grant a moratorium or deferment for loan repayments to borrowers that have been affected by the pandemic on a case by case basis.

Here is what you need to know:

  • If you received a loan prior April 2020 and you were repaying on time, you can apply for a moratorium with your microfinance institution
  • Having a moratorium means that you may be able to delay payments for up to 3 months on loan installment and interest accrued. This means that you will still need to repay the loan in full, with all interest and charges as agreed with your microfinance institution.  UMRA has suspended the payment of arrears as a pre-condition for restructuring loan term for up to 12 months, meaning that you can negotiate with your microfinance institution even if you have arrears.
  • Restructuring of your loans as a result of the COVID-19 pandemic will not negatively impact your credit risk profile.
  • There are consumer protection guidelines in place by UMRA to protect you, which lenders must adhere to through 31st March 2021

Stay home and talk with your microfinance institution if you are having trouble with loan repayments. It is in the best interest of your business – and of your microfinance institution – for you to succeed, even if there is a delay in payment.  Use digital channels made available by your lender during this time.

Nina obuzibu okusaula loan yange mu microfinance. Nkole ntya?

Ekibuuzo: Nkole ntya bwemba nina obuzibu okusasula looni yange eya Microfinance?

Answer: Teweelariikirira! Uganda Microfinance Regulatory Authority (UMRA) ekola kyonna ekisoboka okuyamba bizinensi entonotono mukaseera kano. Tuukirira micro finance yo   mangu ddala omanye kyebasobola okukukolera kubikwaatagana nokusasula looni yo

Uganda Microfinance Regulatory Authority (UMRA) elagidde ebitongole byonna ebiwola sente n’abantu ssekinnoomu okuwa abantu bonna abeewola naye nga bizinensi zaabwe zikoseddwa ekilwadde kino ebbanga eddala mwebalina okusasulira sente nga ensonga bazikola emu kweemu nga bweeba ezze

Bino byolina okumanya:

  • Bwooba wafuna looni nga omweezi gwa April 2020 tegunnatuuka era nga obadde osasula bulungi, osobola okusaba ebbanga eddala mwoosasulira okuva mukitongole ekyakuwola ssente
  • Kino kitegeeza nti osobola okukeerewamu okusasula okumala emyeezi 3 ku bitundutundu byolina okusasula namagoba agaba gagenzeeko. Kino era kitegeeza nti ojja kuba olina okusasula looni yo mubujjuvu byaayo, namagoba gonna n’ebisale ebilala nga bwemwabikkaanyaako n’ekitongole gyeweewola. UMRA eweze okusasula kwa sente enkadde ezibanjibwa naye nga akakkwakkulizo kali nti muddamu nemujiteesaako okujisasula mu bbanga eritasukka myeezi 12. Kitegeeza nti okyaasobola okuteesa n’ekitongole ekyakuwola singa oba olinaye sente zootaasasula.
  • Okuddamu okuteesa ku looni yo olwa covid-19 tekijja kukosa bwesimbu bwolina mukusasula amabanja
  • Waliwo amateeka agakuuma gwwe omweewozi abawola gebalina okugoberera okuyiya mukaseera kano okutuuka nga 31st March 2021.

Sigala ewaka oyogere n’ekitongole kyo bwooba olina obuzi mukusasula looni yo. Kino kiyamba bizinensi yo wamu n’ekitongole gyeweewola okusigala nga kyiri mumbeera ennungi nebwewabaawo okukeerewa mukusasula. Kozesa emitimbagano  egyateekebwaawo ekitongole gyeweewola mukiseera kino


Can I postpone my NSSF contributions as an employer during COVID-19?

Question:  I do not have enough cashflow in my business due to COVID-19 and cannot pay the NSSF contributions of my employees.  What can I do?

Answer:  No reason to panic! In support of the Government of Uganda’s interventions to combat the effect of COVID-19, the National Social Security Fund (NSSF) has put in place measures to ease the cashflow burden of affected employers/businesses in the private sector.

What you need to know:

  • Reach out via email to amnesty@nssfug.org as soon as possible to explain your situation, clearly indicating how the COVID-19 pandemic has affected your business and ask to reschedule your NSSF contributions.
  • NSSF will review and if satisfied, will work with you, on how to reschedule payment contribution for three (3) months without accumulating penalties. However, contributions for the affected months will remain outstanding and be payable by the employers through a convenient payment plan.
  • Employers will be expected to sign a deed of settlement (agreement to pay) to continue to meet their obligation to pay social security contributions for their employees.
  • If you do not apply or your business is not eligible, you still need to pay the NSSF contribution by the 15th day of every month, so reach out now to NSSF Uganda.

 

Employers who require more information should contact the following:

  1. NSSF Compliance Manager Mr. Rwakabureeta Horace

email: hrwakabureete@nssfug.org

  1. NSSF Head of Business Mr. Sajjabi Geoffrey

email: gsaffabi@nssfug.org

 

Call center telephone number: 0800286773 toll free

Email: customerservice@nssfug.org

 

References:  https://www.nssfug.org/312/News/NSSF_Extends_Amnesty_to_Businesses_Facing_Economic_Distress

Nze nga omukozesa nsobola okwongezaayo emitemwa gya NSSF gyenina okusasula  mukaseera ka aka covid-19?

Ekibuuzo: Sirina bulungi sente mu buzinensi yange nga omukozesa era ssisibola kusasula mitemwa gyabakozi bange egya NSSF, Nkole ntya?

Ekiddibwaamu:  Teweelariikirira. Mukaweefube wokuyambako gavumenti okutetenkanya eby’enfuna ebigootaanye olwa covi-19, National social security Fund (NSSF) eriko enteekateeka gyekoze okuyambako amakampuni gw’obwannannyini agakoseddwa ennyo

Byolina okumanya:

  • Tuwandikire ku amnesty@nssfug.org mangu ddala otunnyonnyole embeera yo  nga otulaga bulungi engeri covid-19 gyakukosezzaamu osabe tuddemu okutegeka ensasula yo eya NSSF
  • NSSF ejja kweekennenya era bweneeba ematidde, ejja kkolagana naawe mukkaanye kungeri gyonoosasulamu emitemwa gy’emyeezi esatu nga tekuli ngassi. Naye emitemwa gy’emyeezi gyotasasudde jijja kusigala nga jikubanjibwa era ojja kujisasula mungeri etakukaluubirize
  • Abakozesa bajja kweetaagibwa okuwandika endagaano y’okukkiriza okusasula emitemwa gyaabakozi baabwe eja NSSF
  • Bwooba tosabye oba nga kampuni yo tegwaanidde, kikukakatako okusasula emitemwaajo ejja NSSF nga olwa 15 olwa buli mweezi telunnatuuka, nolweekyo, tuukirira mangu NSSF Uganda.

 

Abakozesa abeetaaga okumanya ebisingawo mutuukirire abantu bano

  1. NSSF Compliance Manager Mr. Rwakabureeta Horace.

email: hrwakabureete@nssfug.org

  1. NSSF Head of Business Mr. Sajjabi Geoffrey

email: gsaffabi@nssfug.org

 

Call center telephone number: 0800286773 etali yakusasulira

Email: customerservice@nssfug.org

 

References:  https://www.nssfug.org/312/News/NSSF_Extends_Amnesty_to_Businesses_Facing_Economic_Distress