Business

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 Common Market for Eastern and Southern Africa – COMESA has developed regional policy frameworks that will assist Member States to improve the quality of solar products that are allowed into the region and achieve the ease the doing of business across borders due to predictable duty regimes. The policy intends to address the...

Burundi remittances is now said to have increased by 115 percent according to the country’s Central Bank (BRB), while addressing the press the BRB Governor said that the measures to lift restrictions on money transfer has already created a positive impact on the country’s economy. In October, 2022, Burundi’s Central Bank lifted the restrictions...

The governor of Burundi’s Central Bank (BRB) Dieudonne Murengerantwari has this Friday announced the suspension of the special refinancing framework for growth sectors, days after Burundi president Evaritse Ndayishimiye criticized the policy. During a press conference in Bujumbura, the Central Bank governor announced that the measure was suspended until further notice, “except for the...

The East African Community has proposed another deadline for a single currency while expected to miss out on the 2024 deadline that was initially set by the heads of state upon signing the Monetary Union Protocol in 2013. During the celebration of 23 years since the East African Community was revived after its collapse...

The East African Business Council (EABC) Chief Executive Officer John Bosco Kalisa called on the Burundi government to waive COVID-19 testing for fully vaccinated passengers entering Burundi. “This will boost tourism & trade and easing of forex bureau controls also the operationalization of Ruhwa one-stop border post will boost Burundi-Rwanda trade,” said the EABC...

Kenya plans to ask China for a longer repayment period on $5 billion of loans it used to build a new railway line, Transport Secretary-designate Kipchumba Murkomen said. Servicing the Export-Import Bank of China loans, which mature in 15 to 20 years, is choking the economy, Murkomen told lawmakers Wednesday at a confirmation hearing...

Burundi Breweries (BRARUDI) and Burundi Cement Company (BUCECO) announced the inflation of their commodity prices that took effect this Monday. According to the two companies, it is said that the price increase is due to the inflation of the raw materials and energy. “The cement price of a 50 kg bag...

WASHINGTON, October 6, 2022—The World Bank Group approved $120 million in financing for the Burundi Transport Resilient Projectwhich aims to provide efficient, safe, and climate resilient road connectivity along the main corridor linking Burundi with Tanzania. It will also strengthen the institutional capacity to sustainably plan, develop, and preserve climate resilient road assets. The project...

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,...