Burundi Central Bank to host high-level conference on the problematical of Burundi development
RegionWeek Newsletter Vol V, Issue #186 | Tuesday, August 17, 2021
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Dear Readers,
This Tuesday evening, Burundi Central Bank (Banque de la République du Burundi) announced via its department of Economics and Statistic Studies that it will host on Friday, August 20th, a high-level meeting on the problematical of Burundi development at Hotel Club du Lac Tanganyika in Bujumbura. This conference will be under the patronage of President Evariste Ndayishimiye, and the key speakers will be Prof. Léonce Ndikumana from Massachusetts University and Dr. Janvier Désiré Nkurunziza from United Nations Conference on Trade and Development.
As announced by Venuste Ndikumwenayo, the head of the Economics and Statistic Studies Department at Burundi Central Bank, the aim of the conference will be to explore effective answers to questions and challenges about Burundi Development by taking into account strategic orientation initiated by the government of Burundi.
Among the participants, there will be members of the Government, private sector key players especially leaders of banks, the Burundi Federal Chamber of Commerce and Industry, academicians, and researchers.
Burundi Central Bank plan to host several events
I asked Mr. Venuste if this conference is going to be a regular event that will be held each year to reflect on Burundi Development, he told me that this event is following other events that will give opportunities to economic key players to express their contributions to Burundi to have sustainable development. He said that it has not been decided yet that this event may occur once or twice a year, but it will be announced soon. Meanwhile, this Thursday Prof. Léonce Ndikumana and Dr. Janvier will wind up a 10 days training for central bank executives on econometrics and macroeconomics applied to monetary policies.
How far is the Burundi securities exchange project?
While at Burundi Central Bank, I took the opportunity to ask Mr. Pierre Damien Mpawenimana, the Head of the Securities Exchange Unit at the Bank of the Republic of Burundi, about the Burundi Securities Exchange project. He told me that the preparation is at the final stage, and revealed to me that they are waiting for the establishment of the Capital Market Authority that will license BSE (Burundi Securities Exchange) a private company to operationalize the securities exchange. The Capital Market Authority will also license other key players such as brokers and custodians.
Since 2009, Burundi has been seeking to create its Stock Exchange. This work is progressing with two essential actions: the institutional aspect and the legal and regulatory aspect, on the other hand, specifies Mr. Pierre Damien MPAWENIMANA. As the law precedes operations, the law establishing the capital market is already available since February 27, 2019. Burundi Securities Exchange will offer a variety of financial instruments that allow economic agents to raise capital at efficient prices and to manage financial risks.
Trade and Development Bank top Leader announces relocation to Burundi
President Evariste Ndayishimiye received at Ntare House Mr. Admassu Tadesse, President and Chief Executive Officer of TDB 'Trade and Development Bank' who came to announce the realization of his relocation to Burundi.
Mr. Admassu Tadesse congratulated the President and indicated that the Trade and Development Bank is ready to accompany the Burundi Government in the process of development. He announced that TDB has already signed an agreement with Bancobu Bank and Wise Microfinance.
Bancobu Bank, active in development finance announced on its Twitter account that it hopes to involve TDB in its Strategic Development Plan through a mutually beneficial partnership.
Established in 1985, the Eastern and Southern African Trade and Development Bank (TDB), formerly the PTA Bank or ZEP in Frech Acronym, is a multilateral, treaty-based development financial institution, with assets of about US$ 5.6 billion.
The Bank’s mandate is to finance and foster trade, regional economic integration, and sustainable development through trade finance, project and infrastructure finance, asset management, and business advisory services. The Bank’s membership comprises 22 Member States from across COMESA, EAC, and SADC, 2 non-regional members, Belarus and China, as well as 13 institutional shareholders.
The latter include the African Development Bank, Africa Reinsurance Corporation, Arab Bank for Economic Development in Africa (BADEA), Banco Nacional de Investimento (Mozambique), Mauritian Eagle Insurance Company, National Pension Fund (Mauritius), National Social Security Fund (Uganda), OPEC Fund for International Development (OFID), PTA Reinsurance Company, Rwanda Social Security Board, Sacos Group (Seychelles) and Seychelles Pension Fund.
Thanks for reading
Fabrice Iranzi, Editor in Chief | RegionWeek.com
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