Business

The East African Community (EAC) has secured $1.4 million for a feasibility study on a key section of the Northern Transport Corridor linking Kenya and Uganda. The EAC Deputy Secretary General in charge of Planning and Infrastructure, Eng. Steven Mlote disclosed that the funding from the African Development Bank would...

As part of encouraging the youth entrepreneurship in Burundi, the country’s president Evariste Ndayishimiye announced that the Inkerebutsi day will be from now on an annual event that will seek to recognize youth innovation and entrepreneurs of the year.  “I will collaborate with those in electronics and make sure Burundi also starts manufacturing mobile...

A team of the US International Development Finance Corporation (DFC) made a field visit in Burundi to explore opportunities to invest in mainly in the country’s private sector. While addressing the press in Bujumbura on Friday 9th February, Andrew Herscowitz the Chief Development officer of DFC said that his visit was a follow up of...

One of Burundi’s telecommunication company Econet- Leo is on the verge of collapsing after the country’s Revenue Authority (OBR) ordered banks to transfer its funds to the Communications Regulatory Authorities (ARCT) account as payment of tax arrears.  “This is to pay ECONET LEO's debt of 88,756,006 572 BIF and $44,344,346 representing the arrears owed...

Burundi’s president Evariste Ndayishimiye this Tuesday arrived in Senegal’s capital Dakar to participate in the second edition of the Dakar Summit on food in Africa.  “The President of the Republic will be accompanied by the First Lady Angeline Ndayishimiye,” a statement reads from the office of president’s spokesperson.  The president was...

Burundi’s Central Bank (BRB) on Friday announced a ceiling for cash withdrawals and deposits to all commercial and micro finance banks starting January 16th, 2023. “Any account holder of a credit institution or microfinance institution can only withdraw in cash an amount less than or equal to BIF 15 million per day and BIF...

Intra-regional trade within the East African Community (EAC) is on an upward trajectory standing at $10.17 billion in September 2022 according the EAC Secretariat. The intra-EAC trade, accounting for imports and exports between the seven community’s Partner States grew from 13 percent in 2019 at a value of US$7.1 billion to 15 percent in 2021 at a...

The Common Market for Eastern and Southern Africa – COMESA has developed regional policy frameworks that will assist Member States to improve the quality of solar products that are allowed into the region and achieve the ease the doing of business across borders due to predictable duty regimes. The policy intends to address the...

Burundi remittances is now said to have increased by 115 percent according to the country’s Central Bank (BRB), while addressing the press the BRB Governor said that the measures to lift restrictions on money transfer has already created a positive impact on the country’s economy. In October, 2022, Burundi’s Central Bank lifted the restrictions...

The governor of Burundi’s Central Bank (BRB) Dieudonne Murengerantwari has this Friday announced the suspension of the special refinancing framework for growth sectors, days after Burundi president Evaritse Ndayishimiye criticized the policy. During a press conference in Bujumbura, the Central Bank governor announced that the measure was suspended until further notice, “except for the...