Real time Custom payments possible at Bank of Africa branches
Clearing and forwarding agents can now pay Customs duties and other levies at Bank of Africa (BOA) branches after the lender integrated its IT system with the Kenya Revenue Authority (KRA) Customs Clearance platform. Import declaration fees, Custom taxes and other levies paid through any of the bank’s 30 branches will be reflected in KRA’s Simba system in real time. This will enable agents to have their goods cleared from the Port of Mombasa at a faster, more efficient and convenient rate.
“The integration of Bank of Africa’s IT system into KRA’s Simba System will reduce the time taken to clear goods and save agents costs, such us demurrage charges. This service is open to both BOA and non-BOA customers. We are continuously developing services that allow customers the convenience of access to various payment outlets,” said Ms. Annerose Ngemu, Unit Head- Wealth and Capital Management.
Agents in the coastal region can pay for Custom duties and related taxes at BOA’s Nyali, Ukunda, Changamwe and the Bank’s two branches along Moi Avenue.
Ms. Ngemu added that Bank of Africa is well poised to leverage on the opportunities across KRA border stations following the linking of the bank’s IT platform with KRA’s Simba System.
“The volume of import and export is expected to grow significantly in the coming years due to expansion of the port, infrastructural development, demand for raw materials and equipment needed in the infrastructure and extractive industries. This will be a boon for clearing and forwarding agents, a market that we are well suited to serve,” said Ms. Ngemu.
Customers can also pay Domestic taxes at BOA branches making the lender a one-stop shop for all tax payments.
Payments made to KRA through banking channels that are not linked to the revenue collection agency’s platform take a longer time to clear and as a result, agents have to wait longer before their goods can be offloaded from the port. BOA is fully integrated with KRA for RTGS payments hence the real time updates for these payments.