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The East African Legislative Assembly (Eala) has given Rwandan representative Dr James Ndahiro a go-ahead to introduce a private member's bill on electronic transactions that, if passed, will enable traders cut the cost of doing business.
Ndahiro yesterday told Sunday Times that the EAC Electronic Transactions Bill, 2014, which is supposed to make provision for the use, security, facilitation and regulation of electronic communications and transactions, will benefit Rwandan businesses.
"Rwandans will benefit in at least three important ways. The first is in reduced transaction costs whereby, if you are doing cross-border business, there are things you can do at your desk in any part of Rwanda without need to travel. Contracts can be exchanged on-line and money is saved," Ndahiro said.
He said such legislation will also reduce costs of doing business but also important...