We will also open up the market for credit reference services to competition after September 2012, when the rights of Compuscan to be the sole Credit Reference Bureau expire. Competition should benefit customers of the credit reference services because of the incentives it will give service providers to reduce costs and introduce new products.
I would like to commend Compuscan for its achievements over the last three and a half years in successfully launching the credit reference bureau in Uganda and for now introducing the Credit Scoring System. I would also like to thank all of our development partners, especially KfW, GTZ and the World Bank, who have supported the project through both financial and technical assistance.