The African Import-Export Bank (Afreximbank) has provided a $29 million guarantee to BSMART Technology Ltd. to support the large-scale deployment of the East African Community's (EAC) customs bonding system. This digital platform aims to facilitate the transit of goods between countries in the region. The guarantee will enable BSMART Technology to strengthen its financial capacities and accelerate the adoption of the system. The platform seeks to simplify access to customs guarantees and reduce reliance on manual procedures that slow down the clearance of goods at borders.
The customs bonding system allows customs agents, guarantors, and customs administrations to conduct bonding operations electronically. This eliminates the need for transporters to physically present guarantee documents at each border post when crossing multiple countries. The system is expected to reduce formalities, processing times, and costs associated with regional transit. The project is part of a cooperation between Afreximbank and the EAC Secretariat, which launched a pilot phase in Uganda in August 2025.
The EAC customs bonding system has already been joined by Rwanda and Burundi in January 2026, before its official launch during the 25th EAC Heads of State Summit in March. Afreximbank is supporting this initiative through its African Collaborative Transit Guarantee Scheme (AACTGS). The guarantee provided to BSMART Technology is a significant step towards achieving the objectives of the African Continental Free Trade Area (AfCFTA) and promoting greater integration of continental markets.
According to Kanayo Awani, Afreximbank's Executive Vice President for Intra-African Trade and Export Development, the guarantee addresses the need to remove obstacles that continue to hinder trade on the continent. She believes that the digitalization of customs guarantees will enable companies to transport goods more easily in the region, while improving the efficiency of procedures and reducing costs.
Awani also emphasized that the mechanism complements Afreximbank's efforts through AACTGS and strengthens its collaboration with regional economic communities. The initiative supports the implementation of AfCFTA and promotes greater integration of continental markets. The guarantee is expected to have a positive impact on trade in the region, enabling companies to take advantage of the opportunities offered by the AfCFTA.
Stephen Teang, Managing Director of BSMART Technology Ltd., welcomed the support, which he described as a major boost to the company's development ambitions and a vote of confidence in the EACBond platform. The extension of the system to the entire EAC is expected to widen access to guarantees, accelerate border crossings, and create a more integrated customs environment, conducive to the growth of intra-African trade.
The Afreximbank guarantee is a significant step towards achieving the objectives of the AfCFTA and promoting greater integration of continental markets. The EAC customs bonding system is an important initiative that will facilitate trade in the region and promote economic growth. The success of this project will depend on the effective implementation of the system and its adoption by countries in the region.
Key points
- Afreximbank provides $29 million guarantee to BSMART Technology for East African customs transit system
- The guarantee will support the large-scale deployment of the EAC's customs bonding system
- The system aims to simplify access to customs guarantees and reduce reliance on manual procedures that slow down the clearance of goods at borders
