Business

Burudi's president Pierre Nkurunziza together with Evelyn Butoyi the minister for youth during the official launching of the bank in Gitega on April 15th. 2020. PHOTO| Burundi government. Burundi’s president Pierre Nkurunziza on Wednesday April 15th 2020 officially launched a Youth Investement Bank (BIJE) with the aim of fighting Youth unemployment in the country through providing loans...

The East African Community Secretary General Amb. Liberat Mfumukeko and the German’s Charge d’Affaires Jorg Herrera after signing the agreement on December 4th 2019. PHOTO| Burundi Times The East African Community (EAC) Secretary General Liberat Mfumukeko on Thursday signed an agreement worth $ 128 million with German’s Charge d’Affaires Jorg Herrera in Arusha, the fund...

Member state officials indicated that some of the measures are not coordinated at a regional level thus seriously limiting regional trade which involves essential commodities that are in critical demand. PHOTO| FILE COMESA Member States have asked the Secretariat to conduct a socioeconomic study on the effects of the Coronavirus to inform ongoing COVID-19...

The COVID-19 outbreak and the associated global economic turmoil creates a critical need to support the Fund’s membership. PHOTO| FILE In direct response to the COVID-19 crisis the International Monetary Fund (IMF) Executive Board has adopted some immediate enhancements to its Catastrophe Containment and Relief Trust (CCRT) to enable the Fund to provide debt...

Other sectors in which the Commission reviewed were distribution agreements affecting alcoholic and non-alcoholic beverages and the fast-moving consumer goods. PHOTO| FILE. More than twelve trade agreements which have been operational in the Common Market for several years have been banned for being anti-competition. The action was taken by the COMESA Competition Commission...

The Tripartite brings together three RECs, including the East African Community into a cooperative framework on the implementation of the Tripartite Free Trade Area Agreement (TFTA) that was launched in 2015. PHOTO| BurundiTimes The Common Market for East and Southern Africa (COMESA) has handed over the stewardship of the tripartite group of Regional Economic Communities (RECs)...

The system allows the users to share information across borders in a transparent manner, and the truck drivers will need to upload the application on their phones.PHOTO| FILE. East African Community Partner States have adopted the Regional Electronic Cargo and Drivers Tracking System that will be hosted at the EAC Headquarters in Arusha,...

Burundi Central Bank  cautioned the public and that no entity or financial institution is currently authorized to offer remittance or other payment services using a virtual currency. PHOTO| FILE. Burundi’s Central Bank (BRB) has today issued a statement that outlaws the use of cryptocurrency in the country, the governor of the central bank Jean Ciza...

Foreign Direct Investment (FDI) inflows to East Africa fell by 14% in 2018, this is according to the UN Conference on Trade and Development (UNCTAD). This despite FDI flows to Africa bucking the global trend and registering and increase of 6% in 2018, though most of these inflows went to North and Southern Africa.

Youth Ambassadors with border officials at Kobero/Kabanga border during the sesitisation programme on the movement of goods,services and people in the region. PHOTO|FILE. The East African Community Youth Ambassadors are undertaking a multi-stakeholder outreach programme that kicked off yesterday targeting the border communities in some of the East African partner states. The aim of...