Business

Despite their high potential to advance global prosperity, one-half of the world’s 75 most vulnerable countries are facing a widening income gap with the wealthiest economies for the first time in this century, a new World Bank report has found. Taking full advantage of their younger populations, their rich natural resources, and their abundant solar-energy potential can...

Increased private consumption and declining inflation are supporting an economic rebound in Sub-Saharan Africa. However, the recovery remains fragile due to uncertain global economic conditions, growing debt service obligations, frequent natural disasters, and escalating conflict and violence, according to the World Bank’s latest Africa’s Pulse report. Transformative policies are needed to address deep-rooted inequality to sustain long-term growth and...

The pan-African trade insurance agency, The African Trade Investment and Development Insurance (ATIDI), has supported Songa Energy's USD 7.7 million run-of-the-river hydro project on the Ruvyironza River in Burundi. The 1.65 MW project is expected to be the first hydro Independent Power Producer (IPP) in the country, is set to benefit from ATIDI's Political Risk...

Tanzania's real GDP growth is expected to reach 6.3% in 2024, this was revealed during the CEO Roundtable Meeting on East African Integration and Economic Outlook 2024 organized by the East African Business Council (EABC), in partnership with the Switzerland-Tanzania Chamber of Commerce, Tanzania Private Sector Association (TPSF), the Confederation of Tanzania Industries (CTI) and RSM Eastern...

So far, only fourteen countries out of 29 that belong to the Eastern Africa, Southern Africa and Indian Ocean Community (IOC) have acceded to the Single African Air Transport Market, six years since it was launched. This has limited the potential economic growth and development of the region and greatly affected air connectivity within Africa as air...

Burundi and the Democratic Republic of Congo are constructing a 130-meter bridge with an estimated cost of approximately 24 billion Burundian Francs that will connect Burundi and DRC in Cibitoke province. The bridge’s reconstruction began on October 2, 2023 for a period of 13 months and 15 days, is currently financed by the World,...

Burundi’s president Evariste Ndayishimiye on Thursday March 14, 2024 met with stakeholders and those in Burundi’s ministry of trade, Transport, Industry and Tourism to strategize in efforts to achieve Burundi’s as an emerging country in 2040 and a developed country in 2060. During the meeting president Ndayishimiye said that the objective of the meeting...

The East African Legislative Assembly on Tuesday called on member states to expedite the liberalisation and domestication of the East African Community airspace. A motion in the East African Legislative Assembly was moved by Paul Musamali and Kennedy Musyoka calling on the council of ministers and partner states as per Article 89 of the...

CEO Roundtable Meeting on East African Integration and Economic Outlook 2024 organized by the East African Business Council (EABC) in

Burundi’s Minister of Energy and Mines Ibrahim Uwizeye yesterday said that following the decline in the world prices of petroleum products, “there was also a decrease in the costs of transporting these products by