SA to invest in Burundi

2011-08-14 13:49

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 co-operation 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 programme 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 co-operation that our business people are looking into. These include tourism, energy and infrastructures development."

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

New rebellion

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 in the country reached $209.7m 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.

  • letsee - 2011-08-14 15:00

    Hello Burundi! You will start paying for roads, airports and stadiums you don't need and if you can't, we will pay it for you from South Africa and that's good news. If you are a democracy Julius and I will seek regime change and that's the very good news.

  • ProudofPink - 2011-08-14 16:51

    Time Zooomer 783's flagrant use of taxpayers money gets stopped. If not, the taxpayers will stop.

  • Newsferret - 2011-08-14 16:55

    Whahahahahaha is that how we are going to help Burundi into the ditch? We can't even manage for example our schools, hospitals and roads and we want to help Burundi!

  • Francois - 2011-08-14 18:35

    Kind of strange that Zuma thinks that SA will invest in infrastructure in Burundi, when he acknowledges to other people that South Africa does not have the capacity to invest in its own infrastructure or maybe this is a nice way to give NHDIs (Non historically disadvantaged individuals) to be paid a lot of money, because SA cannot pay there NHDIs themselves, because it will totally ruin the retribution project of Zuma and Mbeki.

  • sipholess - 2011-08-14 20:55

    Frickin fantastic. And the ANC came up with this sh_t all on their own, I'm getting rid of my financial adviser in the morning.

  • fconnection - 2011-08-15 00:03

    Hell yea why not invest there we have so much money here to waste why stop there dumbass

  • fconnection - 2011-08-15 00:03

    Hell yea why not invest there we have so much money here to waste why stop there dumbass

  • pages:
  • 1