The central bank which is the clearing house for the financial sector disclosed that it was to see the Modernization of its electronic clearing system pilot out a single day clearance system of inter- bank CHEQUE. “Right now, we’re in our project once again to upgrade and introduce new functionality for our automated clearing house which we think will improve the turnaround time for inter-bank payment. we focus on the inter-bank payment in the expectation that those benefits in the inter-bank slip will then flow to the consumer within the banking system” said Richard Mayeebo Director IT, Bank of Uganda.

Bank of Uganda’s director for information technology Richard Mayeebo was speaking at a system integration dialogue targeting government agencies in enabling data sharing and broadening access as well as data usage by the public.

Some of the direct beneficiaries of the system convergence was the NSSF. “so, we’ve got about 80% straight through processing but we’ve got 20% which is government institution so one of the things we would like is government also get integrated into this. An institution of government today takes the usual 48hrs rather than the standard 12hrs that we do for our other customers” said Richard Byarugaba NSSF managing director.

The National Information and Technology Authority of Uganda(NITAU) was to ensure ministry’s department and agencies of government alongside the private sector shape up on their operations and live better around online services.