The East African Community (EAC) has officially launched the EAC Regional Customs Bond (EACBond) during a high-level event held in Kampala, Uganda. This transformative trade initiative aims to simplify cross-border goods movement by replacing the need for multiple national bonds with a single regional guarantee across participating Member States.
Key Benefits of the EACBond:
- Streamlined cargo clearance across Uganda, Kenya, and Rwanda
- Reduced transport costs and border delays
- Real-time tracking and improved risk management
- Release of up to USD 2 billion in previously tied-up capital
The launch was supported by TradeMark Africa, FSD Africa, and ASECUDA, and marks a significant step in strengthening regional integration and easing the cost of doing business across the EAC bloc.
According to the EAC Secretary General, the bond especially benefits SMEs and regional exporters, who often face financial strain from duplicate guarantee requirements.
