Business

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...

Kenya plans to ask China for a longer repayment period on $5 billion of loans it used to build a new railway line, Transport Secretary-designate Kipchumba Murkomen said. Servicing the Export-Import Bank of China loans, which mature in 15 to 20 years, is choking the economy, Murkomen told lawmakers Wednesday at a confirmation hearing...

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...

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 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...

The World Bank Group and the IMF suggested a range of financing options and policy tools as part of the pandemic response, many of which African countries are looking to implement as they plan for the medium and long-term impacts of the crisis. PHOTO| FILE. The World Bank Group and International Monetary Fund today convened African...

The 5th edition of the YouthConnekt Africa Summit is under the theme Accelerating Investments in Youth: “Resilient Youth, Resilient Africa”, will be held from 13 – 15 October 2022 in Kigali, Rwanda. Building on its unique convening power, the edition of the continental annual youth gathering projects is set to attract over 10,000 participants...

China has set its lowest annual GDP target in decades, as premier Li Keqiang warned of a “grave and uncertain” outlook against the backdrop of the coronavirus, a slowing economy and the war in Ukraine. Li announced on Saturday the unusually modest target of about 5.5% growth for 2022 – the lowest since 1991...

A Burundian national and owner of a cargo ship that sunk in Lake Tanganyika on Wednesday 16th, 2022 hailed Tanzania’s navy for a quick and on time to rescue all the eleven crew members who were on board before the ship capsized.  “I thank the army and Tanzanian government in rescuing the crew and...

Speaking at the EAC Incentive Scheme Workshop organized by East African Business Council with support from TradeMark East Africa; Dr. Samuel Nyantahe from Confederation of Tanzania Industries (CTI) said, "Final products manufactured using raw materials benefiting from duty remission do not access the EAC market at the preferential rate of 0% which has set back the growth...