Afreximbank issues US$ 29mln guarantee to scale EAC Customs Bond
Afreximbank considers the EAC Customs Bond a significant step towards simplifying and digitalising customs processes across the East Africa region
KAMPALA, September 23, 2026 — The African Export-Import Bank [Afreximbank] has issued a US$ 29 million [about Ushs 113.1billion] guarantee to BSMART Technology Ltd to support the implementation and scaling of the EAC Customs Bond, a technology-enabled regional customs guarantee solution designed to facilitate the movement of goods across East African countries.
The facility is aimed at strengthening the financial capacity underpinning the EAC Customs Bond and supporting the transition to a more seamless, digital and integrated customs environment.
It will enable BSMART Technology Ltd to strengthen the implementation and market uptake of the EAC Customs Bond across the region.
The financial support builds on Afreximbank’s collaboration with the East African Community [EAC] Secretariat, which began with the pilot phase of the EAC Customs Bond in August 2025 and culminated in its official launch during the Heads of State Summit in March 2026.
Through the Afreximbank African Collaborative Transit Guarantee Scheme [AACTGS], the bank has supported the development of regional customs guarantee and digital solutions aimed at facilitating intra-African trade.
Afreximbank considers the EAC Customs Bond a significant step towards simplifying and digitalising customs processes across East Africa. The system enables clearing and forwarding agents and other eligible users, including guarantors and customs authorities, to access customs bonds through a digital platform.
The solution reduces reliance on physical documentation and is designed to eliminate the need for physical bond documents to be posted at each border for the entry and exit of goods, thereby supporting a more seamless transit environment.
By strengthening the financial capacity supporting the digital customs ecosystem, the new facility is expected to expand the adoption of the EAC Customs Bond across the region, improve access to customs bond capacity, reduce administrative and documentation requirements, and facilitate faster movement of goods across borders.
The facility is also expected to support greater digitalisation of customs processes and contribute to the broader objective of increasing intra-African trade.
Highlighting the significance of the facility, Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development at Afreximbank, said the initiative demonstrates the bank’s commitment to developing practical solutions to barriers to intra-African trade.
“With the EAC Customs Bond, we are supporting the digitisation and simplification of access to customs guarantees for businesses moving goods across the region — cutting costs and improving the efficiency of customs procedures,” Awani said.
“The Bond complements Afreximbank’s broader AACTGS programme to strengthen capacity across Africa. It deepens our relationship with the EAC Secretariat and other stakeholders, including the regional economic commissions.
“Above all, this intervention aligns with the Bank’s mandate to support the implementation of the AfCFTA and accelerate the integration of African markets.”
Stephen Teang, Managing Director of BSMART Technology Ltd, said the facility would support the company’s growth ambitions.
“This facility provides important support for BSMART’s growth ambitions and reflects strong confidence in EACBond. We thank Afreximbank for their partnership and support,” Teang said.
The EAC Secretariat began piloting the EAC Customs Bond in Uganda in 2025. Rwanda and Burundi were subsequently onboarded in January 2026, followed by the official launch of the system at the 25th Summit of Heads of State in March 2026.
Under the digital Bond platform, an agent moving goods across multiple countries can complete the process digitally instead of submitting physical documents at each border post. This is intended to reduce administrative procedures, minimise delays and make the movement of goods across the region more efficient.
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