Didace Ngendakumana, the Director of API
“We call on all entrepreneurs to respect commitments made in their business plan submitted during the application for eligibility certificate to the advantages of investment code”, said Didace Ngendakumana, the director of Investment Promotion Agency (API). “Offenders will be punished according to the law and regulations of the nation”, he continued.
He issued that warning after the discovery, during monitoring-evaluation activities by the agency, that 23 out of 77 certified companies that were given advantages on rolling stocks between 2009 and 2015 did not honour their commitment. He says that a report on the offences was submitted to Burundi Revenue Authority (OBR) commissioner in charge of investigation. According to Ngendakumana, the recovery of the funds is underway.
He said that in a press conference held this Friday morning to inform the public of the achievements of the agency during the third term of 2016. For Ngendakumana, the agency boasts greater accomplishments in the third term of 2016 than of 2015. For instance, as by 27 September 2016, 1.575 companies were registered against 1140 last year in the same time, that is, an increase of 37.2%. Created and projected jobs increased of 32.4%, from 10353 in the third term of 2015 to 13779 in 2016.
To help Burundian companies have access to regional markets, the API has signed a memorandum of understanding with Trademark East Africa and Trade Links. According to Ngendakumana, many Burundian companies like Kinju, Savonor et Liquids, Manderena and Modern Burundi Dairy were able to export their products to Bukavu, in the Democratic Republic of Congo thanks to the memorandum.
API participated in different meetings and forums in the EAC region, seeking opportunities of the promotion of investments and exports. Ngendakumana said that for example, the API agents were able to receive training on helping and attracting investors, which was organized by The East African Trade and Investment Hub.
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