Loading...
See More

SA to invest in Burundi

Aug 12 2011 21:00 Reuters

Related Articles

Boom in African millionaires

Ford not that keen on Africa

Malema: Govt can stop African influx

African middle class reaches 300m

African air passenger demand drops: IATA

SA, neighbours battle over money

 
Bujumbura - South Africa plans to invest in tourism, energy and infrastructure in Burundi to help the central African nation which is still struggling to revive its economy after two decades of civil war.

Africa's biggest economy signed an economic cooperation deal with the landlocked nation during a visit by President Jacob Zuma, who said South African business was keen to invest in Burundi's financial services, transport and agriculture.

"Our departments responsible for trade and industry have been directed to prepare a program of action that will outline how the two countries will work together to boost investments and increase the volumes of trade," Zuma told a South African and Burundi business meeting.

"There are various areas of cooperation that our business people are looking into. These include tourism, energy and infrastructures development."

New rebellion

Zuma served in the past as a chief mediator in talks to broker peace in the small, coffee-producing nation of 8 million people, where a spate of violent incidents have raised fears of a new insurgency in the central African country.

Burundi has enjoyed relative peace since the former Hutu hardline rebel Forces for National Liberation (FNL) laid down their weapons and joined the government in 2009 after two decades of insurgency that claimed the lives of 300,000 people.

But attacks against civilians and soldiers have increased in recent months and Uprona, the main Tutsi party and part of the coalition government led by President Pierre Nkurunziza, has said they bear the hallmarks of a new rebellion.

Burundi's authorities blame bandits for the attacks.

A coalition of Burundi opposition parties known as the Alliance for Democratic Change (ADC) called Zuma to persuade Nkurunziza to start talks with the opposition. Zuma and his host did not make any public comment on the issue.

Burundi Investment Promotion Authority said private investment by South Africans in the country reached $209.7 million at the end of 2010, resulting from a series of reforms undertaken by the country to improve its business climate.

The bulk of funds went into the country's tourism and agro-business sectors, the authority said.
burundi
NEXT ON FIN24X

 

Lastest Articles

Here is how to check your credit score and manage it Read More...
Top tips to save money over the festive period Read More...
These are the top 5 most fuel efficient cars in SA Read More...
What to consider when switching medical aid schemes Read More...
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...