President Evariste Ndayishimiye of Burundi has expressed concern that the lack of infrastructure and poorly developed human capital are slowing down economic growth of his country.
He made these remarks in a speech at the 58th edition of the African Caucus on August 04.
“The priority must be oriented towards the development of human capital,” said Ndayishimiye. According to him, young intellectuals and women still lack the capital to start their projects.
The Burundian leader also cited the lack of technicality in order to meet the needs of the labour market as another challenge to be taken up in order to boost the economy.
According to President Ndayishimiye, his government plans to reform the education sector to “make education more professional than general”.
He said this would also boost the already existing Youth Bank (BIJE), the women’s bank and the youth economic empowerment program.
In addition to human capital, the lack of infrastructure is also a challenge for the development of Burundi.
To resolve this problem, Ndayishimiye indicated that his government is planning, among other things, for the construction of a railway and a highway joining Bujumbura, and Gitega, the modernization of the port of Bujumbura and the extension of the Melchior Ndadaye international airport.
Despite the challenges of economic instability, President Ndayishimiye noted that Burundi has business opportunities.
“We have opportunities but we are missing the key to starting,” he said, adding that his government intends to install a nickel and iron refinery in Burundi.
Other opportunities, he adds, are agro-pastoral mechanization, industrialization, tourism, health care, ICT development and vocational education.
“We are doing our best to encourage the private sector and investors to come and invest here,”
He requested the World Bank to deploy more financial support for Burundi than that of previous years.
For Domitien Ndihokubwayo, Burundian Minister of Finance and Chairman of the African Caucus, African countries must make economic digitization a reality.
“It’s not just about writing and speaking. Africa must also act so that it does not always lag behind others, ” Ndihokubwayo noted.
