CAIRO, Egypt, Sept. 24, 2026 (XOL Africa) — The African Export-Import Bank has issued a $29 million guarantee to BSMART Technology Ltd. to support the expansion of a digital customs bond designed to facilitate the movement of goods across East Africa.
The guarantee will strengthen the financial capacity behind the East African Community Customs Bond, a regional customs guarantee system that allows eligible traders, clearing agents, guarantors and customs authorities to access bonds through a digital platform.
Afreximbank said the system is intended to reduce reliance on physical documentation at border posts and make it easier for goods to transit multiple East African countries.
The bank has worked with the East African Community Secretariat on the initiative since its pilot phase in August 2025. Rwanda and Burundi joined the system in January 2026, before the EAC Customs Bond was formally launched at the regional bloc’s 25th Heads of State Summit in March.
“This facility demonstrates Afreximbank’s commitment to developing practical solutions that break down the barriers to intra-African trade,” said Kanayo Awani, Afreximbank’s executive vice president for intra-African trade and export development.
“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 bank said the facility should help expand adoption of the customs bond, improve access to guarantee capacity and reduce administrative and documentation requirements for cross-border trade.
Under the digital system, a clearing agent transporting goods through several participating countries can complete customs-bond procedures electronically instead of submitting physical documents at each border. Afreximbank said this is intended to reduce delays and improve the efficiency of regional transit.
The guarantee forms part of Afreximbank’s African Collaborative Transit Guarantee Scheme, through which the bank supports regional customs guarantee and digital-trade solutions.
“The Bond complements Afreximbank’s broader AACTGS programme to strengthen capacity across Africa,” Awani said. “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, said the facility would support the company’s expansion plans.
“This facility provides important support for BSMART’s growth ambitions and reflects strong confidence in EACBond,” Teang said.
The EAC Customs Bond is part of broader efforts to streamline customs procedures and facilitate trade within the East African Community. The EAC Secretariat began testing the system in Uganda in 2025 before expanding participation to Rwanda and Burundi.
Afreximbank said the digital platform is intended to help create a more integrated customs environment by removing the need for physical bond documentation to be lodged at individual border crossings.
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