The recently launched new electronic identity cards will be used to access banking services. Simtel, the company which operates Rwanda’s payment system, has announced.

According to Rogers Munyampeda, the CEO of Simtel, the use of the national identity cards for payment may start next year. The bearer will present the IDs to debit his account. The data will then be sent to Simtel for verification.

Simtel will then confirm the available balance with the bank and instructs it to transfer funds to the merchant.

Munyampenda said that the use of national ID cards will reduce counterfeit money in circulation since there will be less cash transactions.

It is also expected to reduce the digital divide as simple information technology will be introduced in rural areas.

Rwanda, Burundi trained on EAC Customs Union
 
The two new entrants in the East African Community (EAC), Rwanda and Burundi, are laying grounds for the implementation of the Customs Union. This will see all revenue authorities of EAC members have a uniform customs tariffs for regional imports and exports.

It is hoped that when implemented, this will accelerate and encourage a greater volume of trade among the partner states, thus creating a full-blown East African common market.

Annet Birungi, the Head of Media and Public Relations at Rwanda Revenue Authority (RRA), said that EAC secretariat granted ample time to Rwanda to make necessary adjustments but had not yet implemented the legal instruments of the East African Customs Union.

When Rwanda and Burundi implement the CU union, the revenue bodies will be compelled to apply a common external tariff (CET).

20% fuel dispensers in Kigali faulty

The crackdown on substandard weights and measures by the Rwanda Bureau of Standards (RBS) has discovered that 20 per cent (60 dispensers) of them are faulty.

This followed amass of registered complaints that weights and measures in the country were being tampered with to cheat consumers.

The inspection in Kigali saw at least 300 fuel dispensers inspected out of the 330.

Patrice Ntiyamira, Director of Metrology RBS, said that 80 per cent (about 240) of the dispensers were also in tolerable range with minimum errors of either under or over delivery of fuel.

He explained that punitive measures were not taken against fuel station owners whose dispersers were faulty since it was the first ever inspection made.

Ntiyamira also said there was no proof that the dispenser was tampered intentionally or out of ignorance. He continued that after inspection, the fuel dispensers adjusted, fixed with RBS seals and then the pump gears are stamped.

A follow up will be made after every six month to check if the seals are still intact. The inspection that begun last month is expected to cover over 500 fuel dispensers across the country.

Bright start for second EAC negotiations
 
The second round of the East African Community (EAC) common market negotiations in Nairobi, Kenya begun on a bright note, a statement from EAC Secretariat says.

The statement issued on August 19, from the EAC Directorate of Corporate Communications and Public Affairs, said that all member countries were represented by their High Level Task Force (HLTF).

The negotiators were determined to reach agreement on the EAC Common Market Protocol required by December 2008.

At the opening negotiations last Saturday, the Kenyan Assistant Minister for EAC, Peter Munya commended the HLTF for its arrival at a consensus on a large number of critical aspects of the common market protocol.

The minister highlighted the significant progress and agreements reached during the first round of the negotiations held in Kigali, Rwanda in April this year.

The Kigali negotiations agreed on the overall negotiation structure as well as specific issues regarding common market protocol.

The EAC Deputy Secretary General for Projects and Programmes, Ambassador Julius Onen, reported that Tanzania had also endorsed the Kigali deliberations having missed out due to domestic tasks.

Munya suggested that if EAC is to realise the objectives of the common market, negotiators should adopt a positive attitude in shedding off some national interests.

RRA under audit for ISO certification

Rwanda Revenue Authority (RRA) has hired a firm to audit its services hoping to qualify for the International Standards Organisation certification. It is believed that this will install customer confidence and improve investments in the country.

Kujidha Consult International, a consultancy firm based in Uganda, started the service delivery audit in June this year.

Annet Birungi, the Head of Media and Public Relations of RRA, explained that the consultancy firm is comparing the authority’s systems and procedures with what would be required of an ISO certified organisation.

RRA’s structure, corporate business plan, departmental action plans, processes and procedures and the existing infrastructure are being audited.

The internal rules and regulations are also being considered for aligning with international best practices to give credibility to the organisation. She said the consultancy firm will also conduct trainings aimed at strengthening RRA’s management skills.

CMAC hopes to join securities commission

Rwanda Capital Markets Advisory Council (CMAC) is seeking to join the International Organisation of Securities Commission (IOSCO) of world securities regulators.

This would allow CMAC to adopt the international regulatory standards in order to promote a fair, efficient and a sound market.

CMAC believes that this will give confidence to both local and international investors interested in securities listed on the Rwanda Over the Counter Market.

The move follows CMAC’s joining of the East African Member States Securities Regulatory Authority (EASRA), which brings together regional capital markets regulators to share information and assist its members.

With the exception of Burundi and Rwanda, the other three East African securities regulators are IOSCO members.
Robert Marthu, the Executive Director of CMAC, said a firm has been hired to work on the securities bill and a draft is expected within three months time.

Contact: mukaaya@yahoo.com