UGANDA, Aug. 6 -- THE East African Community (EAC) has launched the EACBond, a regional customs guarantee designed to replace multiple national bonds required for transporting goods across partner states.

The new bond allows traders to secure cargo movement across borders with a single regional guarantee, reducing trade costs, cutting delays at border points and freeing up business capital previously tied up in multiple deposits.

According to information posted on the EAC Secretariat website, the official launch took place in Kampala, Uganda, at a high-level event attended by government officials, logistics companies, banks, insurers and customs authorities.

The EACBond is being piloted in Uganda, Kenya and Rwanda, with plans to roll i...