The 15-day deadline set by the President for the Ministry of Commerce to stabilize prices has passed, yet no concrete actions have been taken. Prices of essential goods remain high, leaving citizens concerned about the future. Here’s a look at the situation and market conditions.

The Presidential Ultimatum

During a public event in Bujumbura on December 27, 2024, President Ndayishimiye's price stablisation ultimetum expires , whats next for traders instructed the Ministry of Commerce, Industry, and Tourism to address price speculation within two weeks. He warned that failure to comply would result in the dissolution of the ministry, with the government taking over its duties.

Following this directive, the ministry formed a committee on December 30, 2024, to develop pricing strategies. Discussions were initiated with key stakeholders, including the public sector, private businesses, and civil society, to gather insights on potential solutions. Christine Niragira, the ministry’s permanent secretary, confirmed these efforts.

On January 4, 2025, during his visit to Muramvya Province, the President reaffirmed his ultimatum. He emphasized that both local and imported goods must have regulated prices, and violators would face sanctions. He criticized the current practice where traders set prices at their discretion, stating that price determination should be based solely on production costs. Any price increases, he insisted, must be justified with actual expenses rather than external factors like foreign currency shortages or taxes.

Market Conditions After the Deadline

The deadline expired on January 12, 2025. As of January 16, no official measures have been implemented, and prices continue to rise. The cost of food products varies by location and supply conditions, making it difficult for consumers to plan their purchases.

Many citizens hoped that government intervention would provide relief from rising costs. Some consumers expressed their frustration, saying that if the President’s directive were enforced, buyers would benefit from price transparency and stability in the markets.

Since early 2024, Burundi has been facing an economic crisis characterized by high inflation, soaring prices of basic necessities, and the depreciation of the national currency against the US dollar, Euro, and Tanzanian shilling.

Current Market Prices

At Bujumbura City Market (Kwa Siyoni), Tanzanian rice costs 7,000 BIF per kilogram, while local rice ranges from 5,000 to 5,200 BIF. Rutete rice is priced between 5,800 and 6,200 BIF.

For beans, the Kinure variety is sold between 3,500 and 4,000 BIF, yellow beans range from 6,000 to 6,500 BIF, and Muhoro beans are priced at 5,500 BIF. Fresh beans (ibiharage bitoto) have seen a price drop, falling from 11,000-12,000 BIF per kilogram in December to 5,000 BIF due to the approaching harvest season.

At Gasenyi Market in Gihosha, beef prices remain high. Boneless beef (Umusoso) costs 30,000 BIF per kilogram, down from 37,000 BIF during the holiday season, while beef with bones (cangacanga) is priced at 25,000 BIF.

Fuel Shortages and Price Inflation

Traders argue that supply costs largely dictate market prices. Many believe that the ongoing fuel shortage is a key driver of inflation and suggest that addressing this issue would help stabilize costs.

Some business owners have raised concerns over government-imposed price regulations, fearing they might discourage investment and disrupt the market. One trader questioned how the government could set fair prices without consulting sellers or analyzing procurement costs across different markets.

Others stressed that resolving fuel shortages should be the priority, as transportation costs directly impact product prices. A merchant at Cotebu Market emphasized that those sourcing goods from rural areas adjust their prices based on transport expenses.

Government Response

Noël Nkurunziza, Secretary General of the Burundi Consumer Association (ABUCO), participated in the government-led discussions and confirmed that proposals have been finalized. However, he noted that it was too soon to comment on the matter before an official decree is issued. He also pointed out that high prices reflect deeper issues, such as supply shortages.

On January 16, when asked about the status of new measures, Onésime Niyukuri, spokesperson for the Ministry of Commerce, briefly responded: "Please wait. We will inform you in due time.