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African Export-Import Bank (Afreximbank) has issued a $29 million guarantee to BSMART Technology Ltd to support the implementation and scaling of the EAC Customs Bond, a technology-enabled regional customs guarantee solution that eases the movement of goods across East African countries.
The facility is meant to strengthen the financial capacity behind the Bond and support the transition to a more digital, integrated customs environment.
The EAC Customs Bond lets clearing and forwarding agents and other eligible users, such as guarantors and customs authorities, access customs bonds through a digital platform instead of relying on physical documentation at each border.
Afreximbank sees it as a significant step towards simplifying and digitising customs processes across East Africa, expected to reduce administrative and documentation requirements and speed up the cross-border movement of goods.
“This facility demonstrates Afreximbank’s commitment to developing practical solutions that break down the 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,” said Kanayo Awani, executive vice president for intra-African trade and export development at Afreximbank.
“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.” “This facility provides important support for BSMART’s growth ambitions and reflects strong confidence in EACBond. We thank Afreximbank for their partnership and support,” said Stephen Teang, managing director of BSMART Technology Ltd.
Afreximbank is a pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade.
The Bank has also launched the Pan-African Payment and Settlement System, adopted by the African Union as the payment platform underpinning the AfCFTA, and, with the AfCFTA Secretariat and the AU, set up an €8.76 billion ($10 billion) Adjustment Fund to support countries participating in the agreement.
At the end of December 2025, Afreximbank’s total assets and contingencies stood at over $48.5 billion, with shareholder funds of $8.4 billion.
The facility builds on Afreximbank’s work with the EAC Secretariat, which began with a pilot of the EAC Customs Bond in Uganda in August 2025. Rwanda and Burundi joined in January 2026, and the Bond was officially launched at the 25th Summit of Heads of State in March 2026.
This funding is expected to accelerate the Bond’s expansion and adoption across the region, and to support wider digitisation of customs processes as part of Afreximbank’s broader effort to grow intra-African trade.
