GASABO - Rwanda can rise to become a financial hub in the region with payment facilities for all businesses, a local economist has predicted. Emmanuel Ndahimana, a consultant with East Africa Business Council (EABC) was addressing a workshop organised by the Private Sector Federation, East African Development Bank (EADB) and EABC at Hotel Novotel Umubano last week.
The workshop focused on the integration of banking and financial activities in the mainstream East African integration process.
Ndahimana, however, said that such a feat could only be achieved if the country continues to enjoy security, free movement of capital and transparency. He observed that Rwanda has many advantages over other East and Central African states.
“Rwanda is bilingual and it’s an advantage which can make this country an interface between EAC and the Central African region which is basically Francophone,” he added.
The Secretary General of the Private Sector Federation, Emmanuel Hategeka, said that customers in the banking sector will benefit from the increasing competition, courtesy of Rwanda’s accession to the East African Community (EAC).