Afreximbank-African Collaborative Transit Guarantee Scheme
As part of the overall objective of promoting intra-African trade, the Afreximbank has introduced the Afreximbank-African Collaborative Transit Guarantee Scheme, which seeks to reduce the bottlenecks and attendant costs associated with movement of goods across borders within Africa. Under the Scheme, Afreximbank will provide a transit guarantee directly or indirectly to eligible beneficiaries, which will assure customs authorities that they will recover their import duties in the event that the transit procedures are not completed properly (e.g. no evidence of goods leaving the transit country can be produced or goods being released illegally into the transit market).
The Afreximbank have made themselves available to work with the SACEEC and its members to facilitate transit with one simple guarantee that can be used to cover goods across a number of countries.
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