RBZ Enhances Ease of Doing Export Business

Container-ships-freighterThe Reserve Bank of Zimbabwe (RBZ) released in a statement on 1 June 2017 that is has introduced  a Computerised Export Payments Exchange  Control System (CEPECS).

The statements reads as follows:
1. Introduction
The Reserve Bank of Zimbabwe (the “Bank”) wishes to inform exporters
and members of the public that as part of its efforts to enhance the ease of
doing business in Zimbabwe, it has introduced the Computerised Export
Payments Exchange Control System (CEPECS), among other measures.
2. Direct Access to Forms CD1 by Exporters
2.1. In order to reduce time taken to prepare export documentation, and for the
convenience of the exporters, the Form CD1 is now directly accessible via
the internet, through the Computerised Export Payments Exchange Control
System (CEPECS). The CEPECS is a robust, web-based and real time
Exchange Control system that links the Bank to commercial banks,
Zimbabwe Revenue Authority (ZIMRA), exporters and other Government
agencies that facilitate and promote export of goods and services.
2.2. Exporters are therefore invited to migrate to CEPECS for them to be able
to raise Forms CD1, and generate export performance reports whilst in the
comfort of their own offices. Effectively CEPECS enables exporters to
raise Forms CD1 outside banking business hours, on weekends and/or
during public holidays.
2.3. For connectivity, and direct access to CEPECS, exporters are required to:-
(i) have access to internet at own premises or have a mobile device that
can access internet;
(ii) complete a CEPECS User Registration Form (obtained through an
email request to exports@rbz.co.zw), for nominating persons who
shall be raising the Forms CD1; and
(iii) usernames and passwords issued by the Bank’s Exports Department
for logging on to the CEPECS website.
2.4. There are no additional software installations required in order to have
direct access to CEPECS. Any assistance required by an exporter to raise a
Form CD1 or generate an export performance report, can be provided by
contacting an Exports Facilitator/Analyst on +263 4 703 000 or +263 867
700 0477.
2.5. Raising of Forms CD1 through commercial banks remains in place to
accommodate those exporters who may still want to access Forms CD1 via
commercial banks.
3. Turnaround Time for Processing of Applications by the Bank
3.1. Responses to export applications that require prior Exchange Control
approval are provided within 3 working days from the date of receipt of
such applications.
3.2. Processing of applications to export cash in excess of US$1,000 by
individuals, export of Gold and Diamonds, and other urgent applications, is
done within 2 working hours of receipt of the application.
4. Turnaround Time for Processing of Applications by Commercial
4.1. Commercial banks are under strict Exchange Control instruction to process
within 24 hours any requests by an exporter for a Form CD1/CD3/GSD/
4.2. Exchange Control is able to track compliance by commercial banks with
this requirement using CEPECS.
5. Exports by Individual Cross-border Traders
In order to promote and simplify the export process by individual crossborder
traders exporting goods with a value of less than US$1,000 per
consignment, the Form CD1 requirement is waived.
6. Integration of CEPECS and ASYCUDA World System
6.1. The Bank, in collaboration with ZIMRA, is migrating towards the
integration of Form CD1 and Form 21 (Bill of Entry (Export)), in order to
reduce time taken in raising Forms CD1 and/or Bills of Entry (Export). The
ultimate goal is to integrate and converge the Form CD1 and the Form 21
(Bill of Entry Export) into one document, through creation of common data
fields so as to avoid duplicate capturing of the same information.
6.2. The integration of CEPECS and ASYCUDA World system will contribute
significantly to improving ease of doing export business, as at the time of
raising a Bill of Entry (Export), exporters will no longer be required to
capture information already declared on the Form CD1.
6.3. The process of integrating CEPECS and ASYCUDA World system is at an
advanced stage, and exporters will be informed accordingly once the
process has been completed.

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