COMESA RCTG meeting
During the second COMESA RCTG meeting held today at Protea Hotel Skyz, Naguru, COMESA IT Officer Mr. Kibagendi Richard gave a detailed presentation on the online RCTG bond application system. He explained that the development of this digital platform was guided by a digitization roadmap shaped by input from various sureties, which COMESA implemented to enhance efficiency, security and reliability.Uganda Reinsurance Company Limited (Uganda Re) successfully held its 12th hybrid Annual General Meeting (AGM) at Four Points by Sheraton in Kampala. The event brought together the company’s Board of Directors, shareholders and management to reflect on Uganda Re’s performance in 2024 and discuss its strategic direction.
- A mobile application providing real-time access to all stakeholders.
- An online bond application system enabling end-to-end digital processing from the Container Freight Station (CFS) to the final stage.
- A 24/7 help desk designed to support stakeholders across the board.
- A Management Information System (MIS) that facilitates data reconciliation and the generation of reports to support information sharing across member states.
Mr. Kibagendi emphasized several benefits of this system, including quicker bond processing by eliminating paperwork delays, around-the-clock access for application tracking and approvals, cost and time savings and improved data accuracy for reporting purposes.
M/s Namonje Kalala, a representative of Zep Re – the Reinsurance Pool Manager, outlined the role of the pool manager and reinsurance in the RCTG framework. She noted that Zep Re is a COMESA institution and provided a brief overview of COMESA, which was introduced in 1962 to ease the movement of goods across member states’ corridors. She explained that this approach reduces documentation burdens and bureaucratic barriers in trade. The most active RCTG corridors, she noted, include the Northern and Eastern Corridors, covering countries such as Burundi, DR Congo, Kenya, Rwanda, Uganda and Tanzania. She stressed that reinsurance plays a key role in ensuring the capacity to settle claims, with the pool established in 2010 for this purpose.
Uganda Re’s COMESA Coordinator, Daisy Nantume Bbemba, noted that RCTG treaties are typically finalized by September 30th but are often returned to sureties the following year. She encouraged sureties to meet their obligations earlier to minimize delays. She also stressed the importance of sureties providing feedback, which can be submitted to the COMESA Secretariat for further evaluation and continuous improvement of the RCTG scheme.
During the Q&A session, COMESA Programs Coordinator & CEO Mr. Behane Giday, alongside Senior Customs Officer Mr. Chris Hakiza, addressed operational issues within the RCTG system. Key topics included the commission structure for primary sureties, decentralization of premium rates, short-term bond rates, national and regional scheme management, integration with cargo tracking systems and coverage for warehouses and containers.
