In a bid to improve financial services efficiency, the government has approved the Principles for the Amendment of the Electronic Transactions Act, 2011.
According to the Minister of Information and Communication Technology (ICT) Frank Tumwebaze, the move that was approved during a meeting at State House last evening, will ameliorate the financial services risks in order to protect the consumers.
Addressing journalists at the Media Center in Kampala today, Tumwebaze said cabinet had also approved the agreement establishing the African Continental Free Trade Area (AfCFTA), adding that the legal instruments will be signed by the Heads of State and Government during their Extra-Ordinary Meeting scheduled for March 21.
According to Tumwebaze, a Cabinet Committee and officials from the ministries of Foreign Affairs and East African Community Affairs will follow up on the AfCFTA matters in a bid to improve Uganda’s competitiveness in the Regional Economic Community.
The Entebbe meeting also saw the NRM Secretary General Justine Kasule Lummba explain the circumstance under which the ruling party lost the recently-concluded Jinja East by-election and the decision to appeal.
The minister also said the Cabinet Committee constituted to review the proposals on accelerating wealth creation and employment opportunities for the youth in all over the country, would submit its findings at the next meeting on Monday, March 26.
