Bonded warehouses help manage cash flow

Zimbabwean importers are using bonded warehousing to help manage their cash flow, according to Sheila Mashiri, managing director of Harare-based Allen Wack and Shepherd Global Freight. The company operates bonded warehouses in Harare, Bulawayo, Mutare, Blantyre in Malawi and Johannesburg. Goods can be stored for up to two years in bonded warehouses for Zimbabwe, but only 30 days in the 600m² store in Malawi – which is classified as a “Customs Temporary Store”, she says. “Importers can defer the payment of duties by moving their freight in bond and storing it in bonded warehouses,” she told FTW. Manufacturers, retailers and individuals are making use of the bonded facilities. “Bigger items, such as vehicles, are often taken out of bond when the customer has paid duty on them instead of being kept on the showroom floor. However, retailers of fast moving consumer goods are also easing their cash flow problems by making use of bonded facilities,” she adds. The company has a full service warehouse in Msasa, Harare, with general, bonded and secure sections. “We operate round the clock to lodge bills of entries and other documentation in order to reduce border delays as much as possible. We package our services differently to find ways to reduce the time spent at the borders,” she says. Air, sea, road and rail cargo are managed and monitored by the latest tracking and management systems. The company and its clients can trace the whereabouts and establish the status of shipments at any time. Using these systems and the company’s warehousing facilities and expertise, Allen Wack and Shepherd is developing a weekly consolidation service to complement its warehousing, clearing and forwarding, and project management services.