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11-486: The Port of Bujumbura was built in 1959. It manages receipt and delivery of exports and imports, whether carried by ship or by truck. As of 2011 more than 90% of cargo handled was imports, of which about 60% entered by ship and 40% by truck. All imports are carried out of the port by truck. Exports are carried into the port by truck and taken away by ship or truck. In 1992 the port was leased for ten years to EPB ( Société Concessionnaire de l'Exploitation du Port de Bujumbura ),

22-530: A public-private partnership owned 43% by the state and 57% private. The lease was later extended. The EBP concession ran to the end of 2012. Decree No100/311 of 27 November 2012 authorized the state of Burundi to take an ownership share in Global Port Services Burundi (GPSB), a concessionary company formed to manage the Port of Bujumbura. The management concession was for thirty years, with option to renew

33-609: The East African Community by the end of 2015 . As of October 2023 , these plans have not yet materialized. In 1965, the Bank of the Kingdom of Burundi issued brass 1 franc coins. In 1968, Bank of the Republic of Burundi took over the issuance of coins and introduced aluminum 1 and 5 francs and cupro-nickel 10 francs. The 5 and 10 francs have continuous milled edges. Second types of

44-510: The 1 and 5 franc coins were introduced in 1976, featuring the coat of arms. In 2011 new 10 and 50 franc coins were introduced. From February 1964 until 31 December 1965, notes of the Banque d'Émission du Rwanda et du Burundi (Issuing Bank of Rwanda and Burundi), in denominations of 5, 10, 20, 50, 100, 500 and 1,000 francs, were overprinted with a diagonal hollow "BURUNDI" for use in the country. These were followed in 1964 and 1965 by regular issues in

55-524: The Kingdom of Belgium to Burundi had been acquired by ARNOLAC . Burundian franc The franc ( ISO 4217 code is BIF) is the currency of Burundi . It is nominally subdivided into 100 centimes , although coins have never been issued in centimes since Burundi began issuing its own currency. Only during the period when Burundi used the Belgian Congo franc were centime coins issued. The franc became

66-529: The contract for another 30 years. In December 2014 GPSB dismissed over 70 employees for economic reasons. GPSB handles import, export and transit goods. Before April 2016 trucks that passed through the port but were unloaded in private premises outside the port were weighed on entry to the port, then returned to be weighed after being unloaded, so the weight of goods could be calculated. In April 2016 GPSB introduced new handling charges that applied to these trucks. The containers were now being weighed before leaving

77-533: The currency of Burundi in 1916, when Belgium occupied the former German colony and replaced the German East African rupie with the Belgian Congo franc . Burundi used the currency of Belgian Congo until 1960, when the Rwanda and Burundi franc was introduced. Burundi began issuing its own francs in 1964 . There were plans to introduce a common currency, a new East African shilling , for the five member states of

88-417: The port so Customs could check against the weight recorded on the documents and decide whether or not to allow unloading outside the port. GPSB had to charge for use of the weighing machine. In January 2023 GPSB began working 24 hours per day, seven days a week in order to reduce the time boats spent at the quayside waiting to be unloaded. It was hoped that this would increase lake traffic. A joint commission

99-615: The same denominations by the Banque du Royaume du Burundi (Bank of the Kingdom of Burundi). In 1966, notes for 20 francs and above were overprinted by the Bank of the Republic of Burundi, replacing the word "Kingdom" with "Republic". Regular issues of this bank began in denominations of 10, 20, 50, 100, 500, 1,000 and 5,000 francs. 10 francs were replaced by coins in 1968. 2,000 franc notes were introduced in 2001, followed by 10,000 francs in 2004. Photographer Kelly Fajack's image of school kids in Burundi

110-604: Was set up to examine the ownership of Global Port Services Burundi in October 2021. Based on its recommendations, on 15 March 2023 the Council of Ministers proposed a draft decree, retroactive to 14 December 2012, under which the state's shareholding in Global Port Services Burundi would be 64.21%, or over 1.7 billion  BIF . The decree was signed by Evariste Ndayishimiye , President of Burundi, on 7 April 2023. The commission also recommended an inquiry into how 18 boats transferred from

121-458: Was used on the back of the Burundian 10,000 franc note. In 2015 Burundi launched a new series of banknotes. The 10, 20, and 50 franc banknotes have lost their legal tender status and the 100 franc banknote is the only note from the old series in circulation. On 3 January 2006, the franc was valued at 925 per $ 1. On January 1, 2008, the franc was valued at 1,129.40 per US dollar. On January 1, 2009,

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