Francois Kanimba, Rwanda minister of trade and industry told Xinhua Tuesday that OSBPs play a key role towards unlocking barriers to regional trade.

First Capital Plus' new status brings the total number of commercial banks in the country to 27.

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“For trade to flourish in East Africa, countries ought to have single stop border points because it will make it easier for traders to clear goods once in a one check-in point at the border managed by officials from both countries,” said the minister.

“This will speed up the whole process and at same time do away with bureaucracies at the border,” he noted.
Damascene Bisangwa, a Rwandan trader, said clearing goods at the border will be much easier since it’s done in a single check-in point at the border.

“We have been longing for single border posts because there is a lot of bureaucracy when it comes to cross border trade that has hindered the effectiveness of our trade,” said Bisangwa.

OSBP facilities, introduced under the auspices of the East African Community (EAC), will ease movement by bringing all border control services of two neighbouring countries under one roof, whether entering or exiting a country.

In partnership with EAC member countries, Rwanda has completed the construction of the posts in border places such as Rusumo, Ruha, Nemba and Kagitumba.

The country has also embarked on the construction of OSBP facility at Gatuna border with Uganda, and works will be completed in July.

Statistics from the ministry trade and industry indicate that Rwanda exported goods worth 19.65 million U.S dollars to EAC partner countries in the third quarter of 2015. Enditem

Source: Xinhua

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