Business

A Burundian trader explaining to some of his customers about his locally manufactured products on August/30/2019. PHOTO| BurundiTimes. Under the auspices of the Tanzanian embassy in Burundi, a four day trade fair was officially opened in Bujumbura this Friday with the aim to share experience and network between traders of the two...

The Board of the African Development Bank (AfDB) has approved a grant of US$1.5m to advance intra-regional harmonization of electricity regulations and drive cross-border power trading in the COMESA region. This will be implemented through COMESA’s energy regulatory arm -the Regional Association of Energy Regulators for Eastern and Southern Africa (RAERESA). The two-year project...

Lawmakers have given the Kenya Railways Corporation (KRC) three months to recover Sh1 billion it paid as compensation to faceless individuals that were affected by the building of the standard gauge railway (SGR). The details of the payments to unverified individuals by Kenya Railways are contained in the 24th Report on State Corporations by...

An International Monetary Fund (IMF) team led by Ms. Mame Astou Diouf, Mission Chief for Burundi, visited Bujumbura during February 2−12 and held follow-up virtual meetings during February 22−April 6 to discuss with the Burundian authorities IMF support for their macro-economic policies and reform plan. At the end of the discussions, Ms. Mame Astou...

The COMESA Secretariat has developed a draft COVID-19 Regional Food and Nutrition Security Response Plan to improve agricultural productivity, enhance access to competitive markets and trade in agri-food commodities in the region. Implementation of the Plan is expected to create synergies and complement existing initiatives in the region and Member States, targeting specific commodities...

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.

Burundi’s Central Bank (BRB) on Friday announced a ceiling for cash withdrawals and deposits to all commercial and micro finance banks starting January 16th, 2023. “Any account holder of a credit institution or microfinance institution can only withdraw in cash an amount less than or equal to BIF 15 million per day and BIF...

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...

Burundi and the World Bank Group early this week approved funding of $ 80 million for the Skills for Employment Project of Women and Youth in Burundi (Burundi Skills4Jobs). The project aims to improve access to training and labor market relevance of skills development programs and entrepreneurial opportunities. According to the authorities the fund...

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...