Home Business MTN Uganda, 23 Others Officially Join URA’s Authorized Economic Operators

MTN Uganda, 23 Others Officially Join URA’s Authorized Economic Operators

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Telecom Giant MTN Uganda Ltd was among the 24 Companies that were officially unveiled as members of the Authorised Economic Operators (AEO).

URA defines AEO, as a strategic outlook to reward those clients that have partnered with URA to secure the international trade supply chain through voluntary compliance.

MTN joined the 117 other members after voluntarily complying and contributing a tax of up to the tune of Shs131Bn in the FY2021/22.

All AEOs in the FY2021/22, contributed Shs3.594Tn which was approximately 42% of the total customs revenue of Shs8.444Tn. 

Other companies that were ushered in on Friday alongside MTN Uganda include; Bidco Uganda Ltd, National Cement Co Ltd, Maina Speeding Ltd, B&S Group of Companies Ltd, The Grace Freight Forwarders Ltd, and Kach-Ap Global Forwarders Ltd.

Others were; Multiple Forwarders Ltd, Bavina Steel Ltd, Trueline Africa Ltd, Stabex Int Ltd, Dembe Enterprise Ltd, Engineering Solutions Ltd, Hengchang Plastics (U) Co Ltd, Damco Logistics Uganda Ltd, United Forwarders Ltd, Bhum Logistics Ltd, Overseas Freight Forwarders Ltd, Afriansa Global Logistics Ltd, Wamuco Motors Uganda Ltd, Uganda Breweries Ltd, and  Afro Franca Leasing Ltd

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Presiding over the function held at Speke Resort Hotel, Munyonyo,  URA Commissioner General John Musinguzi said that AEO strengthens collaboration between government agencies and the private sector to facilitate legitimate trade, which in turn boosts our revenue, which is a crucial driver to Uganda’s economic independence. 

“Considering the growing trade in contrast with the resources available to URA, the AEO program is one of the tools used to optimize resource utilization,” he said 

“Overall, the program has significantly reduced clearance times and tremendously reduced the cost of doing business for both URA and our clients,” he said 

“When we look at numbers, we have 118 AEOs who are responsible for more than 41% of the volumes of our international trade operations,” he said.

This, he said means that over 41% of our supply chain operations are handled by low-risk and reliable operators who benefit from managing themselves under the program.

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“Our dream is to have 80% of Customs taxes cleared by AEOs hence reducing the cost of our operations. Through the program, we aim to support our clients by making taxation and trade regulation engagements easier, more participatory, and more pleasant, with trust and transparency as the basis for our partnership,” 

Some of the new members who were added to the program include among others; MTN Uganda Ltd, Bidco Uganda Ltd, Dembe Enterprise Ltd, and Mania Speeding Ltd among others.

Speaking at the launch, Abel Kagumire the Commissioner of Customs at URA said that this program aims at improving URA’s efficiency, effectiveness, and a reduction in the cost of doing business, which is the bottom line for businesses and URA. “The cost reduction is expected to translate into more profitability and growth in trade and, eventually, more revenue contribution,” he said 

“The AEO program is one of the interventions to enhance voluntary compliance through a partnership with our clients while tightening our efforts towards achieving the critical balance between supply chain security and facilitation of international trade,” he said 

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This journey, he said started way back in 2009, “when URA kicked off the project to implement this unique program that offers a triangulated compromise between compliance, facilitation, and control,”

Since the start of the implementation of the AEO program, we have noticed a steady rise in the interest of those willing to join

“We started with only 10 companies in 2013 but today we are counting 117. This is a clear testimony that more companies are embracing the call for voluntary compliance,” he added 

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