The Banque de la République du Burundi, the central bank of Burundi, has announced a strategic partnership with the London Stock Exchange Group (LSEG) to undertake a significant modernization of the country's financial infrastructure. This collaborative initiative is specifically designed to foster the development of a more efficient and robust domestic markets ecosystem within Burundi.

Edouard Normand Bigendako, Governor of the Central Bank of Burundi, highlighted the profound impact of this partnership, describing it as a "transformative moment" for the nation's financial sector. He emphasized that by automating and digitizing market operations, the central bank aims to substantially enhance transparency, improve operational efficiency, and establish a solid foundation for a financial system that is both more resilient and inclusive, ultimately supporting long-term economic growth for the country.

Nadim Najjar, Managing Director for Central & Eastern Europe, the Middle East and Africa at LSEG, expressed pride in LSEG's role in assisting the Central Bank of Burundi in advancing its financial market infrastructure. Najjar stated that through the deployment of LSEG's integrated platforms, the partnership will facilitate a transition towards a more modern, transparent, and efficient financial ecosystem. This new ecosystem, he noted, is designed to empower national economies and align them with global standards.

The scope of this collaboration is comprehensive, focusing on the automation of core components of Burundi’s domestic market infrastructure. LSEG is set to provide a suite of specialized platforms crucial for various financial operations. These include its FX Trading Platform for foreign exchange trading, the Money Market Trading platform for efficient interbank liquidity management, and Auctions for managing domestic open market operations. Additionally, the Market Tracker platform will be utilized for enhanced reporting and real-time oversight capabilities.

All these essential services will be delivered through LSEG Workspace, providing both the Central Bank and authorized financial institutions within Burundi with a more transparent and standardized framework for conducting their market operations. This comprehensive approach is expected to streamline processes, increase efficiency, and bolster the integrity of Burundi's financial markets.