Business

The Burundi senate passed 3.9 trillion Burundian francs as the country’s annual budget for the financial year 2024-2025 an increase of 18 percent from financial year ending this July.

The East African Legislative Assembly (EALA) this Wednesday 26 June 2024 adjourned its seating for 24hrs after the regional ministers failed to show up during a seating in Arusha, Tanzania. The East African Community Council of ministers which is chaired by South Sudan on Tuesday tabled $112 million as the budget for the East...

In a meeting held at the East African Community (EAC) headquarters in Arusha, Tanzania, Kenya and Tanzania have successfully addressed longstanding concerns regarding the export of poultry and poultry products between the two partner states. The meeting which took place from 29th to 30th April, 2024 brought together veterinary authorities from both countries with...

Burundi cross-border traders and officials will now start using a mobile application to report trade barriers. The East African Community (EAC) Secretariat and TradeMark Africa’s (TMA) Burundi Programme conducted a two-day training on Non-Tarriff Barriers (NTBs) for Burundi’s cross border trade participants who included customs officials, border police, freight forwarders, clearing agents, and representatives...

The World Bank Group and African Development Bank Group announced on Wednesday April 17th 2024 the partnering on an ambitious effort to provide at least 300 million people in Africa with electricity access by 2030.  In a press statement released by the World Bank, The World Bank Group will work to connect 250 million...

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...