The job creation rate does not cover the unemployment rate

The 2016 biannual report by the Investment Promotion Agency (API) reported that more than 11,000 companies were registered during that period. Over 11000 jobs were also created during the last six months.

Didace Ngendakumana: The Ministry for Energy has reassured that within the next eight months Burundi will no longer be experiencing the power cut

Didace Ngendakumana , the API director says he is satisfied with those figures which are higher than those indicated in the first half of 2015. “API registered an increase of 40 % for integrated business and of over 120 % of jobs created,” he states. According to Ngendakumana, these statistics show that investors have never lost interest in Burundi.

However, part of the opinion estimates that investment is not satisfactorily made in Burundi and regrets that the unemployment rate remains high despite the increasing number in job creation. To reply to this question, the API Director recognizes that jobs are not created at a satisfactory level to the point that there will no longer be any jobless people. “There is a big number of Burundians who need to be employed,” he said. He hopes that with the flow of investment, the unemployment rate will decrease gradually.

Mr. Ngendakumana reassures that measures to challenges that might impede investment have already been taken. He alludes to the promise of the ministry in charge of energy reassuring that in the next eight months Burundi will no more be experiencing the power cut.

In the context of fighting against the misuse of exemptions, the API draws up the report that gives reasons to the government on the misuse of exemptions granted under the investment code. The report states that about 171 cases were identified; it appears that 62 companies have not respected the regulations. According to the agency “this caused a loss of over BIF 97 billion to the public treasury.” The API director says the recovery process of the misappropriated funds has already begun.

Until the end of 2016, the API plans to introduce the computerization of a single window company for the creation of online companies to be effective. It also intends to improve the quality of local products for export so that the latter can meet the standards required by the foreign market and be competitive.