- April 4, 2022
- Posted by: KenTrade
- Category: KenTrade-news
NAIROBI, Kenya, Apr 4 – The Kenya Trade Network Agency (KenTrade) has invested in newer technology in the implementation of the upgraded TradeNet system (Trade Facilitation Platform) in a bid to increase efficiency.
Speaking during the Trade Facilitation Summit, Treasury Cabinet Secretary Ukur Yatani said the system is a superior platform that will provide a better user experience as it is based on modern technologies and incorporates best international practices and standards.
“As we launch the upgrade of the Kenya TradeNet System, which is also known as the Trade Facilitation Platform, the next 10 years are indeed promising to the trading community. With the launch of the Trade Facilitation platform, I believe that some of the limitations and features that were lacking in the Kenya TradeNet system will promote the betterment of intra-regional trade as well as significantly make it easy to carry out trade,” Yatani said.
The upgrade that began in August 2021, has already onboarded about 23 government agencies and is set to be completed by end of April 2022.
“KenTrade has continued to rely on technology to provide unique products and services that are aimed at providing stakeholders with an opportunity to conduct business in a seamless, efficient, and effective way hence reducing the cost of doing business within the country,” said Kendra Chairman Mugambi Imanyara.
The platform was launched at the Trade Facilitation Summit where over 200 stakeholders in the trade facilitation ecosystem attended including members of the African Alliance for e-Commerce (AACE) which Kenya is a founder member and current president.
The Inaugural summit marks the culmination of KenTrade’s 10- Year Anniversary.
“Kenya recognizes the strategic place that trade facilitation holds in its ambition for sustainable economic prosperity. Considering the interconnectedness of trade economies and the nature of cross-border trade, trade facilitation requires a continental and multi-stakeholder approach. One country cannot do this alone. Countries must also focus on facilitating trade through national, regional, and international trade arrangements. This is part of our value system because Kenya’s trade today is more closely tied to regional and global trade than it has ever been,” said Betty Maina, Cabinet Secretary, Ministry of Industrialization, Trade and Enterprise Development, who was the Chief Guest.
On his part, KenTrade Chief Executive Officer Amos Wangora said that KenTrade has continued to embrace and implement emerging technologies that enable it to provide unique products and services. These efforts are aimed at providing stakeholders with an opportunity to conduct business in a seamless, efficient, and effective way hence reducing the cost of doing business within the country.ADVERTISEMENT. SCROLL TO CONTINUE READING.
“We believe that there is merit in embracing and leveraging on emerging technologies to grow the various sectors within the trade industry if we are to deliver value to our stakeholders, especially with challenges that have arisen due to the Covid-19 pandemic,” he added.
The summit was aimed at building linkages between customers in the region and reducing blockages that inhibit international trade.
“Kenya is an important regional gateway to landlocked East Africa and wider Great Lakes countries. The northern corridor links Kenya’s maritime port of Mombasa to Burundi, the Democratic Republic of Congo, Rwanda, South Sudan and Uganda. This corridor mainly facilitates intra-regional trade and regional integration by ensuring the smooth movement of goods and persons across member states,” Wangora said.
As at December 2021, the Single Window System had over 16,000 registered system users, with over 70 percent of them being SMEs and over 60,000 importers, 42 stakeholder organizations out of which Thirty-Eight (38) are Partner Government Agencies (PGAs).
Partner Government Agencies have also been able to collect license/permit fees from traders of slightly over Kes. 3.5 Billion through the system’s integration with KRA’s iTax payment gateway thereby sealing loopholes brought about by manual payments.
There were a total of 445,146 import declarations with a total value of Kes.2.9 trillion recorded in the system from May 1, 2018, to June 30, 2021.
CREDIT: Capital FM