Commodity Prices to Register Sharpest Drop Since the Pandemic
Global commodity prices are expected to decline this year at the fastest clip since the onset of the COVID-19 pandemic, clouding the growth prospects of almost two-thirds of developing economies that depend on commodity exports, according to the World Bank’s latest Commodity Markets Outlook report.
The drop in prices, however, is expected to bring little relief...
Ndayishimiye officially unveils 7.5MW Solar Plant
The Burundi president Evariste Ndayishimiye this Monday officially inaugurated Mubuga Solar Plant in the country’s capital Gitega.
The solar energy plant was created between the Burundi government and GigaWatt Global which is expected to generate 7.5MW.
In his speech, the Head of State hailed "a real accelerator of socio-economic development".
IMF reaches Staff-Level Agreement of $261 million with Burundi
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...
Fuel crisis hits Burundi again
Burundi again is facing a fuel crisis after months of what citizens called “sufficient fuel” the country.
Despite diesel being available at the petrol station around Bujumbura, long queues have been witnessed at almost every fuel station as petrol shortage rocks again the country.
“I have parked my car at this...
EAC secures $1.4 million for feasibility study of key road project
The East African Community (EAC) has secured $1.4 million for a feasibility study on a key section of the Northern Transport Corridor linking Kenya and Uganda.
The EAC Deputy Secretary General in charge of Planning and Infrastructure, Eng. Steven Mlote disclosed that the funding from the African Development Bank would...
Inkerebutsi Day set to be an annual event
As part of encouraging the youth entrepreneurship in Burundi, the country’s president Evariste Ndayishimiye announced that the Inkerebutsi day will be from now on an annual event that will seek to recognize youth innovation and entrepreneurs of the year.
“I will collaborate with those in electronics and make sure Burundi also starts manufacturing mobile...
DFC eyes to invest in Burundi energy sector
A team of the US International Development Finance Corporation (DFC) made a field visit in Burundi to explore opportunities to invest in mainly in the country’s private sector.
While addressing the press in Bujumbura on Friday 9th February, Andrew Herscowitz the Chief Development officer of DFC said that his visit was a follow up of...
Burundi’s telecom giant Econet owes more than $44 million in taxes, accounts risks getting frozen
One of Burundi’s telecommunication company Econet- Leo is on the verge of collapsing after the country’s Revenue Authority (OBR) ordered banks to transfer its funds to the Communications Regulatory Authorities (ARCT) account as payment of tax arrears.
“This is to pay ECONET LEO's debt of 88,756,006 572 BIF and $44,344,346 representing the arrears owed...
Burundi’s Ndayishimiye arrives in Dakar ahead of the summit
Burundi’s president Evariste Ndayishimiye this Tuesday arrived in Senegal’s capital Dakar to participate in the second edition of the Dakar Summit on food in Africa.
“The President of the Republic will be accompanied by the First Lady Angeline Ndayishimiye,” a statement reads from the office of president’s spokesperson.
The president was...
Burundi Central Bank imposes ceiling on cash deposits and withdrawals
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...