Rwf2.1bn, govt project to reduce use of bank cheques

Rwanda will soon put an end to the use of cheques, thanks to a new initiative by Central Bank of Rwanda to implement an Integrated Payments Processing System (RIPPS) worth Rwf2.1 billion. The project, funded by World Bank will see the usage of cheques reduced to minimal levels. It is funded through the Competitiveness and Enterprise Development Project (CEDP). Part of the fund will be used to supply and install the system and the other will secure maintenance for a period of five year.
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Times Reporter