Business

ADDIS ABABA, Ethiopia— Ethiopia’s financial sector is accelerating its shift toward digital transformation, with banking executives, fintech leaders and regulators gathering Wednesday in Addis Ababa for the 23rd Connected Banking Summit. The event, which also featured the Innovation & Excellence Awards 2025, brought together key players to discuss strategies shaping the future of banking...

Bujumbura, Burundi — Burundi’s president Evariste Ndayishimiye, recently welcomed a high-level delegation from the Al Mansour Holding Group in Bujumbura. The delegation, led by His Highness Prince Sheikh Mansour Bin Jabor Bin Jassim Al Thani, arrived to convey Qatar’s continued commitment to investing in Burundi, a country increasingly seen with economic opportunities. The Al Mansour...

KIVUVU, Burundi (July 17, 2025) —All mining operators in Kabarore have been formally instructed to sell their extracted minerals exclusively to Comptoirs Miniers des Exploitations Minières du Burundi (COMEBU), government officials said Thursday. “COMEBU holds exclusive rights to exploit and market minerals in areas where landowners have been compensated,” declared Alain Ndikumana, Head of the Strategic Studies and

ADDIS ABABA, Ethiopia (July 8, 2025) — Leaders from East Africa have raised alarm over fragmented and incompatible digital payment systems that continue to stall the region’s economic potential, calling for urgent legal and regulatory reforms to enable seamless cross-border transactions. At a five-day workshop co-hosted by the East African Community (EAC) and the...

BUJUMBURA, Burundi (Burundi Times) — A high-level regional aviation workshop opened this week in Bujumbura, focusing on the implementation of the Flexible Use of Airspace (FUA) concept—an initiative aimed at modernizing airspace management, cutting airline operating costs, and unlocking intra-African trade. Organized under the European Union-funded Support to Air Transport Sector Development (SATSD) programme,...

ARUSHA, Tanzania (Burundi Times) — The East African Business Council (EABC) and the African Development Bank (AfDB) have signed a $1 million grant agreement aimed at accelerating sustainable industrialization and strengthening manufacturing value chains across East Africa. The funding is expected to enhance regional economic integration, spur growth, and increase the competitiveness of priority...

NAIROBI, Kenya— Extreme poverty is rising rapidly in countries plagued by conflict and political instability, with the vast majority of the world’s poorest now living in such fragile environments, the World Bank warned Thursday in a sweeping new report. According to the assessment—the first comprehensive analysis of conflict-affected economies in the aftermath of COVID-19—more...

Paris, June 26, 2025 — The World Bank Group and the International Atomic Energy Agency (IAEA) formalized a new partnership on Thursday aimed at promoting the safe, secure, and responsible use of nuclear energy in developing countries. The agreement, signed by World Bank Group President Ajay Banga and IAEA Director General Rafael Mariano Grossi, represents the World...

The East African Community (EAC) has approved a total budget of $109,338,151 for the 2025/2026 financial year, with a strong emphasis on regional integration, infrastructure development, and strengthening institutional capacity. The budget was passed despite persistent challenges in funding, including delayed contributions from Partner States and reliance on Development Partners. The budget, themed “Inclusive...

BUJUMBURA — Foreign direct investment (FDI) into developing economies, including Burundi and the broader East African region, fell to its lowest level in nearly two decades in 2023, according to a new World Bank report. The report shows developing countries received $435 billion in FDI last year, the lowest since 2005, amid rising trade...