Business

COMESA Secretariat has conducted a study on the socio-economic impacts of the COVID-19 pandemic in the region. The study is expected to help Member States in developing policies to address the impacts of the pandemic on their economies. According to the study, only six Member States: Egypt, Ethiopia, Kenya, Malawi, Rwanda and Uganda are...

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...

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...

Burundi Central Bank (BRB) governor Dieudonné Murengerantwari this Friday announced the lifting of the ban on forex bureaus that was imposed two years ago. While addressing journalists in Bujumbura, Mr. Murengerantwari said that Burundi is starting a series of reforms to modernize its monetary policy.  “The measure taken on February 07,...

The project region covers eastern DR Congo bordering western Rwanda and Uganda. PHOTO|FILE. Since the first case of Covid-19 was reported in the Great Lakes region in mid-March 2020, small scale traders have been unable to cross borders as they have traditionally done either to buy or sell goods. The...

Euro Talk (U Talk) language learning company added Kirundi language on its long list of languages in efforts to open doors to non-Kirundi speakers to learn the language. “We are really pleased to have added Kirundi to the App which will help open up this important language to an international audience,” said Richard Howeson...

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 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...

After almost a month of fuel crisis in Burundi, the government announced on Thursday the new fuel tariff in the country making it the second time in less than a year for fuel price to increase. Gitega said that there was disruption in the importation and distribution of fuel in the country due to...

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...