New payment platform for East African banks

[R.B]

[h=3] [/h] East African central banks are putting final touches on a new payment platform that will allow businesses to easily settle transactions across borders in currencies of their choice, a bank official said during the weekend in Kampala, Uganda
The East African Payment System (EAPS) will eliminate the unnecessary and costly delays in intra regional trade, according to Louis Kasekende, the Deputy Governor of the Bank of Uganda, the country’s central bank.