By Ajong Mbapndah L
Veteran investor Roger Jantio urged global investors to adopt a disciplined, long-term approach to Burundi, describing the East African country as an “underestimated” frontier market where early positioning could still yield strategic value.
Jantio, Senior Managing Director and CEO of Sterling Merchant Finance Ltd and affiliated investment funds, spoke at a Burundi-focused investment forum in Chicago attended by government officials, business leaders, and investors. He is an early investor in frontier technology and artificial intelligence ventures in the United States and beyond, with more than 36 years of experience in cross-border deal structuring across African markets. He is a graduate of Harvard Business School.
Addressing H.E. Jean Bosco Barege, Burundi’s Ambassador to the United States, Dr. Olivier Kamanzi, and senior officials and investors, Jantio said his remarks were intended to highlight both opportunity and risk in Burundi’s investment landscape.
“After years of studying markets and working on transactions across Africa, I still often feel like a student,” he said. “Africa is a demanding teacher.”
He added that experience across African markets often amounts to what he called a “PhD in hardship,” shaped by delays, negotiation friction, and execution risks that cannot be fully captured in theory.
Burundi as an “Underestimated” Frontier Market
Jantio said Burundi should not be overlooked because of its size or visibility, arguing that some of the most compelling opportunities often emerge in less crowded markets.
“Some of the most interesting opportunities are not always in the largest markets or the loudest markets,” he said. “Sometimes they are in markets that are still underestimated.”
He said Burundi offers early-positioning opportunities for investors willing to conduct proper due diligence and adopt long-term investment horizons.
He cited agribusiness and value addition, logistics and warehousing, energy solutions including solar and storage, selective real estate development, hospitality services, and urban expansion linked to Gitega, the political capital, as key areas of potential.
Regional Positioning and Trade Integration
Jantio also highlighted Burundi’s geographic position, noting its proximity to Tanzania, Rwanda, and the Democratic Republic of the Congo, as well as broader East African markets.
He said Burundi’s investment case should also be viewed within the context of the African Continental Free Trade Area, which he described as a framework designed to strengthen intra-African trade and regional value chains.
“When one looks at Burundi intelligently, one is not only looking at a domestic market,” he said. “One is also looking at corridors, regional flows, and value chain positioning.”
Warning Against Speculative Capital
Jantio cautioned that Burundi is not a market for speculative or informal capital flows, but rather for structured, patient investment.
“It rewards seriousness. It rewards preparation. It rewards patience,” he said. “In frontier markets, value often comes not from speed, but from discipline.”
He said investors would need to rely on credible local partnerships, rigorous due diligence, and realistic timelines, rather than importing assumptions from more mature markets.
Institutional Framework and Investment Support
Jantio pointed to Burundi’s investment ecosystem, noting the role of the Burundi Development Agency as the country’s primary investment promotion institution.
He also referenced U.S. and multilateral financing tools, including the U.S. Trade and Development Agency (USTDA) and the U.S. International Development Finance Corporation (DFC), as well as broader development finance institutions that can support feasibility studies and project structuring.
‘Still Early’ Investment Opportunity
Despite the risks, Jantio framed Burundi as an early-stage opportunity for investors willing to take a long-term view.
“Do not overlook Burundi because it is small,” he said. “Look at it more carefully because it is still early.”
He said the country offers the potential for meaningful value creation for disciplined first movers, particularly those working with local institutions, technical partners, and financing agencies.
“My interest is not in describing opportunity alone, but in building around it,” he said. “With investors, diaspora professionals, operators, and institutions willing to take a long-term view.”
Jantio is always on point. I’ll go investigate the potential treasure.