Visitors from South Africa briefed on numerous investment opportunities available in Burundi
A delegation from the Department of mineral resources in the Republic of South Africa led by Mr. Andries MOATSHE who is the Chief Director of Mine Environment Management, on Friday 27th April 2018 visited the Burundi Investments Promotion Authority API. The purpose of the visit was to exchange information on the various investments opportunities that Burundi has in general and in the mining sector in particular.
The delegation from the Department of mineral resources in the Republic of South Africa
Mr. Léonard SENTORE, the API Chief Executive Officer welcomed the delegation and wished them a pleasant stay in Burundi and a good travel to their homeland upon the completion of their visit to Burundi. The API’s CEO told them that Burundi Government has enacted legal frameworks that enable investments to be sustainable. He, for instance mentioned the incentives that are granted to investors in accordance with the Investments Code. He thus, called upon the visitors to go and sensitize their counterparts South African Investors to come and invest in Burundi.
Mr. Léonard SENTORE, the API Chief Executive Officer
Mr. Esaie NTIDENDEREZA, the Head of the Investments Promotion Division at API presented the overview of the country and the various opportunities that can attract foreign investors. Amongst those sectors, mining could attract South African investors since Burundi has numerous natural resources that are still unexploited.During discussions, the South African visitors said they were impressed by the many investments opportunities that can attract the South African investors and invited Burundi to bring this wealthy information to South Africa and raise public awareness on the business that can be developed between the two countries. They are open to go share what they have learned with their fellow South Africans so that South Africa and Burundi can establish and develop strong business and investment partnership.
Mr. MOATSHE said that South African investors would like investing in mining sector, though energy was still a challenge since this sector requires much energy while exploiting the mineral resources.Responding to a such concern about the energy deficiency, the API’s CEO Mr. Léonard SENTORE said that the Government of Burundi was aware of it and that efforts were being made to increase the energy quantity and seemingly till 2020 the energy would be sufficient.
The visitors also wanted to now the API’s vision on advertising the good image of Burundi. Mr. Esaie NTIDENDEREZA told them that this was among the mission of API, and that the Burundi Investment Promotion Authority has got a five- year Strategic Plan 2017-2022 that will undoubtedly promote the investment opportunities. An ideal undertaking would be translating wishes into action and plan, in in few months ahead, API promotion visit to South Africa to present the various opportunities to investors.
Concerning the security on profit transfer, the API’s CEO said that the current Burundi legislation facilitates such financial repatriation and the prevailing currency shortage in the economy is progressively being sorted out. He revealed the country has set up measures aimed at increasing diversified export in order to bring in currencies. One of the measures is to increase the production including in the mining sector.
The meeting concluded that there is a need of strengthening the investment partnership between Burundi and South Africa wherein the two countries will be benefiting from exchanging trade related information as well as investment assistance and experience.