The Burundi crisis is detrimental to business in the Africa Community restates Healy Consultants

March 7, 2016 - PRLog -- The Burundi crisis that erupted in April last year following the incumbent president’s decision to seek a controversial third term, which according to the United Nations, has claimed more than 500 lives and caused thousands to flee the country, is not only distressing to the citizens but also the businesses in the region.

During a recent business conference held in Kigali Rwanda, partly organized by the East African Tourism Platform (EATP), the chairman of the East African Business Council Denis Kerera stated that businesses in Burundi were closing down due to insecurity.

"We are worried and it should be everyone's concern that business thrive in Burundi. We should all make an effort to see that peace is restored in that country. No one wants to invest there when there is unrest," said Karera.

Also speaking at the same event, the assistant CEO of Kenya Tourism Federation, Suzan Ongalo reiterated the need for calm in Burundi to ensure the prosperity of the East African Community.

"When Burundi or any other EAC country has problems, it affects the whole region. Working together and sharing experiences will enable the region to progress," said Ongalo.

Prospects for Burundi’s economy are very bleak. According to the IMF, the country’s economy shrank by 7% in 2015 and with the current situation it is expected to fall further. The business climate is deteriorating and the treasury is heavily weighed down by the tense relations with the local and foreign donors.

The East African countries like Uganda and Tanzania are apprehensive regarding Burundi. They worry that the sectarian and political differences could directly affect the East African Community (EAC), the free trade area to which Burundi is a member.

Healy Consultants is a professional corporate services provider headquartered in Singapore and with a presence in Burundi since the year 2003. The company aides global entrepreneurs looking to establish their international businesses in different sectors of the economy with, among others, company registration, tax and vat registration, assistance with obtaining business licenses and official business addresses, opening a corporate and merchant bank account and obtaining work or residence visas.