Economy

API unable to control all companies operating in Burundi

The Investment Promotion Agency (API) has said it is unable to regulate all the companies operating in Burundi due to limited budget. Léonard Sentore, Director of API, has said that this Thursday 05 April.

Léonard Sentore: “API does not have sufficient means to control all new companies”

Léonard Sentore: “API does not have sufficient means to control all new companies”

While informing the public about the achievements of the agency during the first term of 2018, Sentore has said more than 2000 companies are created every year.

He has said API concentrates on “big” companies in the strategic sector as most of the small companies are likely to go bankrupt or change the sector they were operating in. “Some of them collapse after a short period of time. Others move from this sector to another without even informing API whose focus is now on big companies,” he said.

Mr Sentore says the agency has however taken a significant step forward by registering a big number of companies in 2018 in comparison with the previous years. “The Agency registered 680 companies that are likely to hire 4912 employees. This shows an improvement of 10% compared to the previous years”.

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