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UBA and MCB banks join the Single Electronic Window

UBA and MCB banks join the Single Electronic Window

22 August 2014

mcb-m.jpg   uba.jpg 

Mozambique Revenue Authority signed of the 22nd of August of this year, memorandum of accession to the electronic system for the collection of revenues with the banks United Bank for Africa (UBA) and Mauritian Commercial Bank (MCB), within the scope of the implementation of the SeW - Single Electronic Window.

With these agreements, foreign trade operators may use either of these banks to effect the payment of customs taxes, duties and fees in a more simplified and faster manner, improving the efficiency of the process to clear goods through customs.

As a result, the number commercial banks that joined the Single Electronic Window system, with the entry of  UBA  and MCB, has risen from nine to eleven


mosaico-11-bancos.png

According to the president of the Mozambique Revenue Authority(AT), Rosário Fernandes, about 50% of the banking institutions of the Country and that represent 75% of the market share is already connected to the system.

In his intervention, Rosário Fernandes, said that the accession of these two banks to the Single Electronic Window system is an added value to the institution led by him, insofar as they are two channels for the collection of revenue to the Treasury that now join the existing ones.   

On his turn, Clement Isikwe, executive president of UBA, expressed his satisfaction for the fact that the bank represented by him is associating itself with the State in the collection of revenues.

“The UBA, in the countries it operates in, has been contributing to the collection of taxes and other revenues by the State". Therefore, in Mozambique it could be no different. This service will benefit the two institutions and the clients and importers, in particular”, said Clement Isikwe.

The SeW, implemented by MCNet, a public private partnership, enables the submission of standardized information through a single point of contact, and it is having a positive impact in the improvement of the business environment in Mozambique, enabling thee reduction in the time to clear goods and a decrease in operating costs in Mozambique.