Business

Mobile money and electronic banking services have expanded across Burundi in recent years, but most Burundians continue to rely on cash, deterred by high transaction fees, limited digital access and lingering mistrust of electronic payment systems, economists and financial analysts say. Despite growing mobile phone ownership and efforts by banks and telecom operators to...

Developing countries paid $741 billion more in external debt service than they received in new financing between 2022 and 2024, marking the largest net outflow in at least five decades, according to the World Bank’s International Debt Report released Wednesday. Despite the pressure, many low- and middle-income countries secured short-term relief in 2024 as...

KAMPALA — Women traders across East Africa continue to face harassment, abuse and exploitation at border crossings, forcing many to abandon official posts for unsafe, informal routes, a report presented Tuesday to the East African Legislative Assembly (EALA) shows. Presenting the findings in Kampala, EALA Women Caucus Chairperson Ann Itto said fear of mistreatment...

East African private sector leaders on Friday urged partner states to demonstrate stronger political will to eliminate non-tariff barriers and accelerate intra-regional trade, as business executives and regional officials convened for the EABC CEOs–EAC Secretary General meeting in Bujumbura. Representatives from Burundi’s private sector including MIRA Steel and Roofings, FOMI, Seed Trade Company and...

President Evariste Ndayishimiye on Friday called for greater transparency and patriotism in Burundi’s mining industry, urging operators to comply fully with national laws as the government seeks to strengthen oversight and scale production of the country’s mineral resources. Speaking at a Nov. 14 press conference, Ndayishimiye presented findings from a 100-day monitoring initiative he...

Trade among members of the East African Community (EAC) jumped by 27 % from USD 14.2 billion to USD 18 billion between June 2024 and June 2025, while total EAC trade with the rest of the world rose 22 % to USD 140.8 billion in the same period, officials told delegates at the 25th EAC Micro, Small and Medium Enterprises (MSMEs) Trade Fair in Nairobi.

The East African Business Council (EABC) and the Africa Leather and Leather Products Institute (ALLPI) have signed a memorandum of understanding (MoU) aimed at promoting growth and competitiveness in the leather industry across the East African Community (EAC) and the Common Market for Eastern and Southern Africa (COMESA) regions. The five-year agreement focuses on...

The East African Community has launched a pilot project to link Rwanda and Tanzania’s national payment systems, a move officials say will pave the way for instant, low-cost money transfers across the region. The project connects Tanzania’s Instant Payment System (TIPS) with Rwanda’s National Payment Switch (RSwitch), allowing people and businesses to send and...

The East African Business Council (EABC) and the African Development Bank (AfDB) have together unveiled a major initiative aimed at accelerating sustainable and inclusive industrialization across the East African Community (EAC). The project, launched in Arusha Nov. 6–7, focuses on enhancing regional manufacturing competitiveness and boosting value-addition in three priority chains: edible oils, textiles and leather.

China has cemented its dominance as East Africa’s top trading partner, deepening economic interdependence with the bloc as overall trade hit record levels. The EAC Secretariat reports that “China remained the leading source of imports, contributing US$ 4.7 billion or 24.2% of the total,” and was also one of the largest destinations for...