Uganda wants to export $6 billion worth of goods in five years, an unprecedented possibility that has now turned the nation to technology. The country has partnered with Technology Associates & CargoX consortium (TA-CargoX) to introduce TradeXchange, a national trade facilitation platform built on the blockchain.

The partnership, formalised through a Memorandum of Understanding (MoU) signed on August 23, 2023, involves Uganda's Presidential Advisory Committee on Exports and Industrial Development (PACEID). The primary objective is to increase Uganda's exports, eliminate trade bottlenecks, ensure compliance with global trade norms, and contribute to the ambitious goal of doubling exports by 2026.

Built on CargoX's Blockchain Document Transfer (BDT) solution, TradeXchange will streamline processes and enhance information flow among key stakeholders such as farmers, producers, traders, and government bodies. The platform will bring traceability and increased transparency to the supply chain of goods leaving Uganda.

CargoX’s Ethereum-based solution is used extensively across the world, and in 2021, was mandated for all exports inbound Egypt. “Exporters who deliver goods to Egypt by sea must register in advance once with CargoX,” writes the S-GE, an official Switzerland-based consultancy services provider. CargoX drove this through its partnership with Misr Technology Services, as part of Egypt’s integrated supply chain platform: the National Single Window for Foreign Trade platform (NAFEZA). NAFEZA has significantly reduced cargo release times and import compliance costs while enhancing efficiency and transparency in cargo import processes.

“We are pleased to work with CargoX who already do work in COMESA and many other parts of the world, to bring fresh thinking on how to gather, build and utilize data for our Exports from Uganda. Our target of USD6bn in five years would be difficult to attain without more reining our hard infrastructure as well as the soft one in digital performance.” Odrek Rwabwogo, Chairman of PACEID said.

According to Igor Jakomin, Deputy CEO of CargoX, the CargoX Platform for Blockchain Document Transfer (BDT) has been used by more than 115,000 companies worldwide, processing over 5.3 million electronic trade documents to date.