Burundi Courts Nigerian Investors With Lucrative Incentives

Abuja, Nigeria – Burundi’s government has extended a warm invitation to Nigerian businesses in an effort to attract foreign investment, promoting the East African country as a prime destination for wealth generation.

A high-level delegation from Burundi, led by Special Envoy of the President, Ambassador Liberat Fumukeko, recently visited Abuja to present compelling investment opportunities to Nigerian captains of industry.

Ambassador Fumukeko emphasised the potential for mutually beneficial partnerships, stating, “We feel like there’s something this country, (Nigeria) as an African power can do in terms of trade investment with other parts of Africa.”

The delegation highlighted the attractive incentives offered to foreign investors, including:

Favorable Investment Legislation: Burundi boasts a clear and transparent legal framework that guarantees investors the right to repatriate their profits and capital.
Taxation and Equal Treatment: Investors enjoy equal treatment with local businesses, subject to standard tax regulations.

“We have come to Nigeria to invite people from the private sector… to come to Burundi and explore the investment opportunities,” Ambassador Fumukeko said.

Engr Mustapha Bello, former Nigerian Minister of Commerce and Industry, praised the Burundi government’s initiative and expressed his enthusiasm for fostering collaboration.

“I think the most important thing is, we have the market, the capacity and the people who have the resources,” he remarked.

“I’m not sure within the continent if you begin to look at the statistics and the data that the number of rich people we have in Nigeria, I don’t think there’s any country that has half of that in the continent of Africa.”

The meeting saw both sides agree on the need to establish a Nigeria-Burundi Business Council, facilitating stronger economic ties through trade delegations, investment missions, and ongoing collaboration.

The focus for Nigerian investors appears to be on the agricultural sector. “We are looking at the area of agriculture and doing the analysis of food sectors that will be good for us to put our own resources into,” explained Mr. Bello.

This outreach by Burundi is a strategic move, aiming to leverage Nigeria’s robust economic potential and connect with its burgeoning pool of investors.

The success of this initiative hinges on the ability of both countries to establish a framework for sustainable and mutually beneficial partnerships, driving economic growth and development in the region.