Economy

Business activities slows down at Bujumbura City Market following COVID-19 prevention measures

03-25-2020 The movement of customers and travelers has significantly decreased at Bujumbura City Market commonly known as “kwa Siyoni”. Some travel agencies inside this market are closed while some others are opened by agency officers who to stay there to spend time. This situation is due to the preventive measures (...)

Foreign instant transfers to be done in BIF, says Burundi Central Bank

03-18-2020 Prosper Ngendanganya, Director of Supervision, Financial Stability and Inclusion at Burundi Central Bank –BRB says the decision has been taken to supervise all movement of foreign currency exchange in Burundi. “All foreign instant transfers including operations done through Western union and MoneyGram will be operated in Burundian francs,” he (...)

Trade activities suspended between Rugombo and DRC

03-13-2020 Commercial activities between Rugombo commune in Cibitoke province and Luvungi city in the DRC were suspended over a week. Traders from both localities plead for their resumption. All trade activities have been suspended on Rubenga border between Rugombo commune and Luvungi city in Uvira province of South Kivu in (...)

Trade Minister warns sugar traders about speculation

03-10-2020 Jean Marie Niyokindi, Minister of Trade, Industry and Tourism said sugar wholesalers are involved in the sugar shortage that has occurred in Bujumbura city these days. “Wholesalers hide sugar instead of distributing it to retailers,” he said adding that the latter then speculate about its price. The Minister also (...)

Price of cherry coffee increases by 10%

02-21-2020 “The price of cherry coffee A has increased from BIF 500 to BIF 550 per Kg while cherry coffee B increases from BIF 250 to BIF 275 per Kg “said Déo Guide Rurema, Minister of the Environment, Agriculture and Livestock, at the official launch of the 2020-2021 Coffee Campaign. (...)

Agriculture Minister warns traders against exporting food illegally

02-20-2020 “We would like to warn speculative traders about stealing food production in order to sell it at an exorbitant price in neighboring countries”, said Déo-Guide Rurema, Minister of Agriculture at a press conference on the production of the season crop A held on 19 February. He said the ministry (...)

Commercial banks make currency exchanges under strict conditions

02-18-2020 All currency exchange offices have been closed since February 15 following the measure taken on 11 February by Jean Ciza, Governor of Burundi Central Bank. He accuses foreign exchange dealers of violating the current currency exchange regulations. Only commercial banks are allowed to deal with foreign currencies. This measure (...)

OLOCUME disagrees with BRB decision to close forex offices

02-13-2020 Gabriel Rufyiri, Chairman of a corruption watchdog-OLUCOME says the decision taken by the Burundi Central Bank-BRB doesn’t provide any solution to the problem of the lack of foreign currencies in Burundi. He says the country faces a major challenge since financial partners reduced their support to the government in (...)

Economy expert concerned over closure of all forex offices

02-12-2020 Jean Prosper Niyoboke, expert in economy says the decision taken by Burundi Central Bank to close all foreign currency offices will have no impact on the Burundian economy if the government is ready to supply enough foreign currencies as the forex offices did to satisfy their clients. “The exchange (...)

Burundi Central Bank closes all foreign currency exchange offices

02-11-2020 Jean Ciza, Governor of Burundi Central Bank says foreign currency exchange offices didn’t respect the rules set for foreign exchange rate. “The foreign currency dealers bought dollars but they rarely supplied them to the clients,” says Mr. Ciza. He also says foreign currency dealers didn’t use BUREX, the software (...)