East African Business Week (Kampala)
13 December 2008
editorial
The recent signing of a peace agreement between the government of Burundi and a rebel opposition party is good news for the country and the region. Uganda's President Yoweri Museveni who is the chairperson of the regional Burundi Peace Initiative, presided over the signing of the Peace Agreement between the government led by President Pierre Nkurunziza and the opposition party, the Peripehutu of Mr. Agathon Rwasa.
The signing , which took place in Bujumbura at a one-day summit and was witnessed by regional leaders that included Zambian President, Rupia Banda and Kenya Vice President Kalonzo Musyoka, Tanzania's Premier Musengo Punda and African Union (AU) commission president, Jean Ping.
Under the Peace Agreement, Peripehutu agreed to have their fighters assemble in designated areas, change the name of the party and have 33 senior party members absorbed in the government. Other issues agreed upon included the release of all political prisoners, combatants to assemble at designated points and civilians to resettle in their homes.
Burundi has great potential and is a giant in slumber. The country is endowed with hundreds of rivers, is one of four countries that share Lake Tanganyika, the second largest and second deepest lake in the world, teaming with thousands of tnones of fish, fertile soils, minerals and recently it was said to have large deposits of oil.
That is good for investment in areas like agriculture, tourism, fishing, transport, mining and financial services among others.
The peace deal will enhance foreign exchange earnings and create employment.
Burundi has one of the highest per capita concentrations of its people living in the Diaspora.
The peace agreement will not only lure their money into the country but will also attract them back with their skills and exposure.
The country will not re-invent the wheel. There are enough success stories from neighbouring Rwanda and Uganda which have experienced war and turmoil and witnessed rapid recovery.
The US$1 billion promised for post conflict reconstruction in 2005 should now start rolling out. Education, value addition and a competitive investment climate are ingredients of sustainable agricultural returns. The time is now!
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