BUSINESS OPPORTUNITIES IN BURUNDI
The Republic of Burundi also known as Burundi is a landlocked nation in East Africa. The country is bordered by Tanzania to the east, Congo to the west, Rwanda to the north and Lake Tanganyika to the southwest. The capital city of Burundi is Gitega, formally Kitega, with Bujumbura acting as the financial capital of the country. Earlier till the year 2019, the capital of Burundi was Bujumbura which was later changed to Gitega. The official languages of Burundi are Kirundi, French & English out of which Kirundi is recognized as the National language. The country has a population of over 1.19 crores people out of which over 90% of the population of the country follows Christianity and the remaining population follows other faiths and religions. The official currency of the nation is the Burundian franc. Burundi holds immense opportunities for the investors being a poor country with loads of requirements for infrastructure development and improvement in other sectors. As Burundi is a landlocked country with limited resources, approximately 90% of the population is employed in the agriculture sector. The major exports of the country are tea and coffee which account for around 90% of the foreign exchange reserves of the country.
Burundi has extensive natural resources such as uranium, cobalt, nickel, copper, platinum, etc. however they are not exploited properly. One can imagine the amount of natural resources in the country by the fact that 6% of the nickel reserve of the world is in Burundi. The country has immense hydroelectric potential which is yet to be utilized efficiently. The government of Burundi understands that the growth of the country is directly related to the investment which will come from international players and they are welcoming FDI in various sectors of the country. The investment will not only lead to more employment opportunities for the population of Burundi but will also lead to the development of various sectors of the country such as infrastructure, manufacturing industries, mining, etc.
Types of Business which can be started in Burundi-
Business Opportunities in Burundi
- Agriculture– Tea & coffee are majorly produced in Burundi which are exported across the globe and contributes to around 90% of the country’s foreign reserve. In fact, Burundian coffee is considered as one of the best coffees in the world and it enjoys a good reputation in the international coffee market. Approximately 90% of the population of Burundi are engaged in the agriculture sector and investment in this sector can benefit the investors a lot as they can increase the agriculture investment and look towards growing other crops that are currently limited in Burundi.
- Food Processing Units– The food processing units are limited in Burundi as the majority of the processed goods are imported into the country. The limits in the food production are one of the major reasons why this sector has not boomed in Burundi however there are many profitable opportunities for the investors in the food processing sectors as they can sell their products not just in the country but to the nearby bordering countries as well.
- Mining– Mining is largely an untapped sector in Burundi. There are a plethora of mineral resources in Burundi which are sure to attract any investor to invest in the mining sector of Burundi. The amount of natural resources in Burundi can be judged by the fact that the country potentially has approximately 6% of the world’s nickel reserves. Other natural minerals commonly found in Burundi are phosphates, limestone, tin, tantalum, gold, The mining sector of Burundi has limited players which can give immense opportunities to the investors for mining and processing the minerals.
- Pharmaceutical Industry– The pharmaceutical sector is mainly dependent upon imports in Burundi as there is only 1 pharma manufacturing company in Burundi i.e. Siphar Pharmaceutical Industries and the remaining demand is fulfilled by importing & selling of the imported It gives a huge opportunity for the largely untapped market of Pharmaceutical manufacturing in Burundi and even importing the medicines in the country. India is one of the major exporters of pharmaceutical products in Burundi.
- Infrastructure Sector– Infrastructure facilities are not well developed in Burundi and the government wants the private sector to invest in this sector. Foreign investors play a huge role in the infrastructure development of Burundi and the lack of development in this sector gives many opportunities to the investors for good ROI. There is a need for bridges, roads, rail connectivity, airports and many other developments in this sector and many projects are undergoing currently under the public private partnerships.
- Energy Sector– Electricity is a major problem in Burundi which the government is trying to address. Lack of proper electricity not only hampers the private houses but also has a major impact on different industries. Burundi has plenty of rainfall, lakes, sunlight, etc which makes it naturally privileged in terms of climatic conditions needed for generating electricity however lack of sufficient investment has made the development in this sector limited. The potential of the country especially in generating hydroelectricity is very large and gives excellent opportunities to the investors.
- ICT– Information & communications technology sector is developing rapidly in Burundi with the advent of technology across the globe. The need for internet and other internet related services is need of the hour in the world and investment in this sector can surely give good ROI to the investors. For setting up a company in the ICT sector, please contact Opesh Group and we will be happy to assist you in the complete process of setting up the company and helping you in developing your business.
Advantages of starting a Business in Burundi
- A low cost work force is available across the country which gives profits to the investors in saving the labour cost. Any business needs economical labour to thrive and Burundi provides the same to the investors.
- Average population growth is approx. 3.1% in Burundi and for the people involved in the consumer good section, this gives the investor a large increasing market to cover.
- The strategic geographical location of Burundi means that the investors will have access to a large market of several neighbouring countries.
- The developing infrastructure sector of the country will be beneficial for the investors as they will be easily able to make trade across and outside the country after that. So the investors can invest now in the country and get the first-mover advantage in several sectors.
- No limit on the minimum investment amount for investing in Burundi.
- Largely untapped market in the majority of the sectors making it a popular destination for the investors.
- Burundi has a large import market as the majority of the products which are consumed in the country are imported which gives large opportunities to investors in this sector.
Business Opportunities for Indians in Burundi-
Almost all of the consumer goods are imported in Burundi which makes the manufacturing sector very limited in the country. Not just in the consumer goods section but other areas such as textile manufacturing, pharmaceuticals, building materials manufacturing are very limited in Burundi. There is a huge gap in the market of Burundi for manufacturing industries and this gives the investors a perfect opportunity to exploit. Even the chemicals and fertilizers which are used in agriculture in the country which is the biggest market of Burundi currently are imported and have limited production. There are various key opportunities and areas where an investor can invest his/her money and gain benefits and profits.
Mining is an attractive sector in Burundi which is still largely untapped. There are only a limited number of mining companies in Burundi and because of that, there are several opportunities that are not yet utilized sufficiently in the country. Mining of nickel and nickel ore, gold, tantalum, iron ore, etc. are some of the wonderful opportunities present in Burundi’s mining sector. There is a potential market not just in Burundi but also in DRC and other neighbouring & EAC member countries of the mining extracts in Burundi. In fact, gold mined in Burundi is sold in raw form globally. Due to this, Mining & then processing of gold can give large profits to the investors.
Major Indian companies which are currently operating in Burundi-
- Angelique International Ltd(Power & Energy sector)
- Jain Irrigation Systems Ltd(Irrigation Business)
- Lucky Exports Ltd(traders of several items)
- Akagera Business Group
- TVS and Bajaj motors have made several dealers in Burundi for selling motorbikes & auto-rickshaws.
GDP= $3.24 billion
GDP Growth= 0%
Ease of doing business rank= 166
GDP per Capita= $300
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