Business

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...

During the 21st COMESA Heads of State Summit held in Cairo, Egypt on 23rd, November 2021, Burundi president Evariste Ndayishimiye called on Common Market for East and Southern African (COMESA) member states prioritize sustainable economic recovery in the post covid-19 pandemic. Burundi’s President Evariste Ndayishimiye who attended the COMESA heads of state summit via...

In 2023, developing countries spent a record $1.4 trillion to service their foreign debt, as interest payments reached their highest level in two decades, according to the World Bank’s latest International Debt Report. The sharp rise in debt servicing costs, fueled by global interest rate hikes, has put significant pressure on government budgets, particularly...

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...

During Academy Public-Private Partnership Forum (APPPF) session held in Tanzania (Arusha) early this month, The Nelson Mandela African Institution of Science and technology (NM-AIST) and The East African Business Council (EABC) asked for additional funding to help investors drive Africa’s sustainable economic development. The APPPF that was held at Gran Melia Hotel, Arusha regional...

It's huge, it's wide, and it's potentially a lot more sustainable. The Airbus A380, a behemoth of the skies, has completed a trial flight powered on cooking oil. The test airplane completed a three-hour flight from Blagnac Airport in Toulouse -- Airbus' French headquarters -- on 25 March. It was powered by Sustainable Aviation...

Intra-regional trade within the East African Community (EAC) is on an upward trajectory standing at $10.17 billion in September 2022 according the EAC Secretariat. The intra-EAC trade, accounting for imports and exports between the seven community’s Partner States grew from 13 percent in 2019 at a value of US$7.1 billion to 15 percent in 2021 at a...

The East African Community (EAC) budget for the Financial Year 202223 has stagnated as the regional minister projected that the economy of the region is expected to decline amid inflation of commodities due to numerous factors. The community tabled $91.5 million for the financial year 2022-2023 with 59 percent of the budget  will be...

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...

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...