Bank of Africa - Important: Beneficial Ownership & KYC Update Required

Dear Customer,

In accordance with the Companies Act, Cap 106, the Partnerships Act, Cap 110, the Trustees Incorporation Act, Cap 271, and the Companies (Beneficial Owners) Regulations, 2023, all companies, limited liability partnerships, and trusts are required to maintain and update a register of their ultimate beneficial owners.

To comply with these requirements, all such entities are hereby requested to update their records with the Bank by providing information on their ultimate beneficial owners, as filed with the Uganda Registration Services Bureau (URSB) using Form 1. For more details on filing beneficial ownership information, please visit the URSB website at www.obrs.go.ug

Additionally, in line with Anti-Money Laundering (AML) regulatory obligations that require periodic updating of customer information, all customers are requested to update their Know Your Customer (KYC) information with the Bank. This includes, but is not limited to, current details on identification, residential or business address, occupation, and for legal entities, updated registration documentation.

📋 Action Required

Please submit the following documents for all your entity accounts by June 25, 2025:

Company Form 1 – Notice of Particulars of Beneficial Owners
Latest Annual Returns
Company Form 18 – Particulars of Registered Address
Company Form 20 – Notification of Appointment of Directors and Secretary
Notice of Particulars of Beneficial Owners
TIN and Country of Tax Residence
Valid identification documents for each signatory, director, shareholder, or beneficial owner:
- For citizens: Valid National ID
- For non-citizens: Valid passport, work permit, and proof of address

📧 Submission Options

Deliver to any of our branch locations, or
Email scanned copies to feedback@boauganda.com (send email)

Additionally, we kindly request that you visit the nearest branch to complete the KYC update form in person at your earliest convenience, preferably before June 25, 2025.

⚠️ Important Notice

Failure to submit the required information by June 25, 2025, may result in restrictions on your account, including interruption of services, in accordance with regulatory requirements.

We thank you for your cooperation and continued trust in BANK OF AFRICA – UGANDA Ltd. Should you have any questions or require assistance, please contact your relationship manager or reach out to us through our official communication channels.

Customer deposits are protected by the Deposit Protection Fund of Uganda up to UGX 10 Million. Terms and Conditions apply.

BANK OF AFRICA IN UGANDA (Licence Number A1.001) is regulated by the Bank of Uganda.

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