To strengthen economic ties and attract much-needed foreign investment, Burundi invites Nigerian investors to take advantage of the East African country’s vast investment potential and strategic location, which offers favorable opportunities. I called out.
Ambassador Liberat Mpufumukeko, Senior Advisor in Charge of the Presidential Office of the Republic of Burundi, who led a high-level delegation to Abuja on Thursday, made this appeal at a conference themed “Burundi: Emerging and Developed Economies in 2040”. Ta. 2060—Discovering investment opportunities. ”
“We are here to invite people from the Nigerian private sector to come to Burundi and explore investment opportunities,” Mpufu-Mukeko said.
“There is a lot that this country can do in terms of trade and investment with Burundi, especially since we are located in the heart of Central and East Africa and represent a much larger market than just Burundi,” he said. He emphasized.
Mr Mpufumukeko also addressed concerns regarding the repatriation of profits and assured potential investors that Burundi’s investment law allows for the repatriation of profits subject to local tax policy.
In response, a former Minister of Commerce and Industry and Faculty of Engineering stated the following. Mustapha Bello described the cooperation between Nigeria and Burundi as a strategic step to harness the vast economic potential of both countries.
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Bello, who is also the Chairman of Invest in Northern Nigeria Limited, said investors in Nigeria need to leverage their comparative advantages to create a win-win situation for both businesses and the people.
He stressed the importance of establishing the Nigeria-Burundi Business Council and the Burundi-Nigeria Business Council, saying, “That bridge is exactly what we need to build.” He added that with the two councils in place, the two sides would be able to continue their exchanges, organizing trade delegations, investment missions, etc., and the ambassadors would complete their tasks.
Nigeria’s market potential has been identified as a key factor in attracting investment as Nigeria boasts a large market, huge population, productive capacity and a significant number of wealthy individuals, all essential factors for engaging in business. It was emphasized.
Investors can explore various areas such as agricultural exports where they can grow and export agricultural products. In addition, poultry farming provides the opportunity to raise chickens for meat and eggs.
Fish farming is another viable option, with the potential to farm fish for local markets or export. Other areas with significant investment potential include snail farming, renewable energy installations, e-commerce platforms, and digital marketing agencies.
Mr. Bello also stressed the need to bridge the investment gap between southern and northern Nigeria, saying, “Most investments are going to the south. We have an opportunity to mobilize resources and invest in northern Nigeria. I believe there are others.”
The event was an important step towards promoting business relations between Nigeria and Burundi. With the proposed business council and investment opportunities, both countries stand to benefit from increased cooperation.
