On September 15, 2020, three projects belonging to the ITRACOM Group were inaugurated by His Excellency Evariste Ndayishimiye, President of the Republic of Burundi. These projects included the expansion of the FOMI factory, the Community and Agricultural Bank of Burundi (BCAB), and the INKINZO Insurance Company. President Ndayishimiye was accompanied by Dr. Domitien Ndihokubwayo, Minister of Finance, and Dr. Déo Guide Rurema, Minister of the Environment, Agriculture, and Livestock, as well as other high-ranking officials such as the heads of various banks and insurance companies, provincial governors, provincial directors of the Environment, Agriculture, and Livestock, and municipal administrators….
Rumors debunked
After the ribbon-cutting ceremony, Engineer Victor NGENDANZI, Technical Director of FOMI, explained the manufacturing process of FOMI’s organo-mineral fertilizers and agricultural lime to the guests. He showcased all the raw materials used. Rumors had been circulating that FOMI lacked sufficient organic matter. To demonstrate that these rumors were unfounded, the President of the Republic of Burundi, Evariste NDAYISHIMIYE, first visited the organic matter stockpile. This stockpile contains over 100,000 tons intended for use as organic raw material in the production of organo-mineral fertilizers.
Visit to the factory extension
After visiting the organic raw material stockpile, the entire team proceeded to the factory extension. They began with the section that processes the organic matter. The President of the Republic of Burundi, Evariste Ndayishimiye, observed the entire fertilizer manufacturing process, from the initial stage to the bagging of the fertilizer granules.
Speech of the Day
In his address, Simon Ntirampeba, CEO of FOMI, speaking on behalf of the ITRACOM Group, thanked the President of the Republic of Burundi and the entire government for their role in the smooth operation of the ITRACOM Group. He briefly discussed the rationale and mission of the ITRACOM Group.
He revealed that thanks to the expansion of the FOMI plant, the production of organo-mineral fertilizers has increased from 200 to 600 tons per day, representing at least 150,000 tons of fertilizer per year.
Regarding the creation of BCAB and INKINZO Insurance, Mr. Simon NTIRAMPEBA stated that the ITRACOM Group wanted to support the agricultural and livestock sectors and thus actively contribute to the country’s development. He added that BCAB and INKINZO Insurance plan to open branches in every commune in the country within five years. All of this is aimed at facilitating the lives of farmers and improving their living conditions.
He concluded his speech by presenting a gift of three heifers, 30 tons of fertilizer, and 30 tons of agricultural lime to the President of the Republic of Burundi.
The Minister of Environment, Agriculture, and Livestock said that they were celebrating the birth of twins, BCAB and INKINZO Insurance, whose father is the FOMI company, mother is the Ministry of Finance, and grandfather is the Ministry of Environment, Agriculture, and Livestock. The creation of the ITRACOM Group, stated Minister Déo Guide Rurema, stems from government recommendations, emphasizing the strength of unity. He added that with the use of FOMI fertilizers, agricultural production has doubled, and even tripled for some crops. Minister Déo Guide Rurema concluded his remarks by stating that FOMI fertilizers are therefore the answer for farmers in terms of their quality, price, and timely availability.
In his address, His Excellency President Evariste Ndayishimiye announced the launch of the organo-mineral fertilizer distribution campaign. He commended the FOMI management for their diligence and commitment to ensuring farmers receive fertilizer on time. He urged farmers to adopt new agricultural techniques such as irrigation and crop rotation. President Ndayishimiye warned all speculators who hoard fertilizers in order to resell them at exorbitant prices. He added that severe penalties would be imposed on them.
Thanks to the expansion of the FOMI plant, US$75 million previously spent on fertilizer imports will be allocated to other projects. Additionally, US$50 million will be generated for the state coffers through the export of surplus fertilizer needed in Burundi. He asked the ITRACOM group to, in addition to creating jobs, provide internships for those in need or establish technical schools to meet the needs of these companies.
President Evariste Ndayishimiye also made recommendations. He advised the FOMI factory to focus solely on the production of organo-mineral fertilizers and agricultural lime, rather than expanding into seed multiplication and supporting agricultural production in collaboration with cooperatives.
He recommended that banks and financial institutions reduce interest rates on loans and increase interest rates on savings. As for insurance companies, he recommended that they compensate their clients promptly.
Jean de Dieu Niyonkuru