BUJUMBURA February 24th (ABP) – Eight young graduates have teamed up to create their own jobs through the formation of a Multi-Service Soap Company (MUSOCO), Mr. Isaac Niyoyandemye, one of the members of that company, told checks by ABP during an interview.
According to Mr. Niyoyandemye, the group was formed during their academic career, after finding that it is difficult or impossible to obtain employment after finishing university.
Indeed, as he revealed to the check by ABP, the MUSOCO, which makes soap from oil palm nuts mixed with other chemicals, was founded in 2017 when they were still students at the University of Burundi (UB), noting that it was only in 2018 on March 26 that this company was officially registered within the Burundi Investment Promotion Authority (API, the current ADB).
That member of the MUSOCO company said that the start of their entrepreneurial journey was not at all easy as students were unable to find seed capital. To circumvent the problem, he said they decided to make a contribution until they collected a sum of 1,600,000 BIF which served as seed capital.
According to Mr. Niyoyandemye, the company started with a single worker, but he is delighted with the state of progress of their activity, since so far more than a dozen workers have been hired on a permanent basis.
As for the production, he indicated that at the beginning their production was 250 to 300kg of soap in three days, or about 80kg per day but that today they are able to produce about a ton of soap per day, 7000 pieces of soap and their turnover currently reaches more than 16 million Burundi francs.
With their monthly income, Mr. Niyoyandemye pointed out that the shareholders of the MUSOCO company have been able to start their families and are able to meet their needs. He also pointed out that they contribute to the development of the country through paying taxes.
Mr. Niyoyandemye calls on other young people not to fold their arms but to be daring by using the small means at their disposal to constitute seed capital and above all to join forces in cooperatives. He reassures them that they will have everything they need in daily life without the intervention of anyone but themselves. He added that the youth could use their effort and intelligence as their capital base.
Mr. Niyoyandemye asks the government of Burundi to reduce taxes, especially for young entrepreneurs, but also to reduce the cost of administrative documents when it comes to registering a company or a cooperative. He believes that the State could grant a period of at least 3 years of trials without paying taxes for young entrepreneurs, he wished.