Five Kenyan Authorised Economic Operators Gain Regional Recognition Through KRA’s Recommendation
The Kenya Revenue Authority (KRA) has recommended five Kenyan Authorised Economic Operators (AEOs) for regional, thereby receiving certification from the East African Community (EAC).
The five AEOs are Isuzu East Africa Ltd, Kuehne Nagel Limited, Bollore Africa Logistics, Ufanisi Freighters Limited and Farmers Choice Limited. These five companies got regional recognition at the World Customs Organisation (WCO) 4th Global AEO Conference held from 14th to 16th March 2018 in Kampala, Uganda.
Speaking during the event, John Njiraini KRA Commissioner General said the Authority has made deliberate efforts to promote pre-arrival release processes for the AEOs. He also said over 60 percent of regional trade transactions go through Kenya and the country is committed to guaranteeing smooth transit of goods. Additionally, he highlighted that the introduction of the Integrated Customs Management System (iCMS) will help the AEOs to enjoy automatic cargo release.
The addition of the five companies brings the number of Kenyan organisations benefiting from premium customs services while trading within the EAC to 14 out of 73 in the region.
The AEOs will enjoy benefits such as “automatic passing of declaration, guaranteed renewal of customs license, priority treatment in cargo clearance chain, and self-management of the bonded warehouse.”
While cargo release time has decreased to seven days thanks to reforms in Kenya and particularly in KRA, “AEOs enjoy the highest turnaround time of three days for processing release.” Moreover, the AEO programme has also reduced storage cost for traders by 30 percent.