New Foreign Exchange Market Regulation Regulates the Economy

After the recent revision of the exchange rate of the local currency in Burundi against the currencies of September 17, 2019, more than twelve exchanges were stopped by the police and their money seized by the police. The one who was arrested first is the nicknamed Kirahwata. He is accused of selling and buying the […]

The Mukaza High Court unable to decide in the case of Interbank Burundi

The judges prefer to reopen the case in ordinary public hearings in the substantive debate and order the appearance of the BRB and Bank Trust Marchant Bank. The decision was taken after a public hearing on Monday, July 15 and made public Tuesday, July 16 by the Mukaza High Court. The high court of Mukaza […]

The Congolese Association of Banks calls for a strengthening of anti-money laundering measures

For fear of US sanctions, many foreign banks frequently refused dollar transactions to or from DRC.State and Treasury departments have asked banks operating in the DRC “to put in place effective sanctions against money laundering, terrorist financing and corruption.” According to a statement from the Congolese Association banks (ACB) forwarded on Thursday 4 July. In […]

New fiscal measures in the 2019/2020 general budget worry the OLUCOME

In its statement issued on June 5, the Observatory for the Fight against Corruption and Economic Embezzlements (OLUCOME) notes that the government is to establish new taxes. Fiscal measures described as severe and exaggerated towards citizens, according to the Observatory. Those new fiscal measures are essentially the review of regulations about tax on revenues, the […]

Employees at BRARUDI’s subcontracting company shout for help

Over 500 employees at Training Society Company (TSC), a company working inside the BRARUDI, a flagship factory in manufacturing drinks launches an alarm outcry for being mistreated. TSC is one of the subcontracting companies of the Burundi Brewery Company (BRARUDI) that hires several persons mainly surface technicians, technicians in beverage lines, in maintenance, etc. Employees […]

The new finance bill does not provide for end of term allowances for parliamentarians

The National Assembly adopted this Wednesday the draft budget law 2019-2020. Out of 113 deputies present, 112 voted in favor. This finance bill did not provide for the end of term allowances for parliamentarians. This issue has caused divisions between MPs. Those of the coalition Amizero y’abarundi see political motives. “It is these allowances that […]

Six tax collectors of Gitega commune have been arrested

Jeovanie Bukeyeneza, Experius Bigirimana, Christ, Claude, Dagobert and Evode all staff members for the district of Gitega, Central of Burundi were this Friday arrested at work as they were going to a working meeting. According to a witness, district’s tax collectors were arrested by the regional commissioner of the special anti-corruption brigade in Gitega. Witnesses […]

Bujumbura suffers from a glaring lack of currency

The currencies are missing in the country. For two weeks, the exchange rate has continued to soar. The lack of foreign exchange in the commercial banks and the black market has been observed for more than two weeks. This makes the exchange rate increase overnight. The US dollar, which traded at 2780 fbu two weeks […]

The economic capital again without oil

North of the city of Bujumbura, on all stations on National Highway 1, no station has fuel oil. Same observation on the stations of the boulevard of November 28th. The traffic of the transport buses serving the north of the city of Bujumbura is disturbed by this shortage. This deficiency affects other areas of daily […]

Drivers choose to cross borders to get fuel

Vehicle owners choose to go abroad to get fuel. According to a source in Cankuzo (East of the country), the local drivers have to go to Tanzania to find the fuel. The situation is similar in other parts of the country. “It has been several weeks since we have any fuel in Cankuzo, for the […]