The Committee for the Privatization of Public Enterprises (CIP) can reserve a determined percentage of securities for transfer to Burundian citizens or companies with majority Burundian capital, while setting rules and modalities for subsequent transfers to foreign investors. By the formulation of such provision, it is implied that any such rules would impose discriminatory conditions on subsequent equity sales by the privatised asset owners. 
"CHAPTER III: Procedures for privatization [...]
Article 14
For each company with public participation, the CIP [Committee for the Privatization of Public Enterprises] is required, after consulting the SCEP, to set the maximum number and percentage of securities that can allow popular shareholding.
Article 15
Unless there is an exceptional and justified exemption from the CIP, the securities offered for sale are paid in cash. This exemption applies in particular when the CIP decides to transfer to the company's employees a determined percentage of the securities put up for sale. In this case, the terms of transfer of said securities and the payment facilities granted to the purchasers are specified in the specifications.
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Article 16
In the context of the privatization of a company with public participation, a service or a public work, the CIP is authorized to negotiate and conclude any contract with any natural or legal person of Burundian or foreign nationality, residing or not in Burundi.
However, after study and upon favorable recommendation from the SCEP, the CIP may decide to proceed with the atomization of shares and reserve all or a determined percentage of the securities likely to be transferred to Burundian citizens or to companies with majority Burundian capital. At the same time, it sets the rules and modalities for subsequent transfer to foreign investors.
Article 17
Tender notices concerning the transfer of any company to public participation must benefit from wide dissemination in the both public and private media, in Kirundi and French in particular, and this for a period which cannot be less than one month before the sales transaction. 
Article 18
In the case provided for in Article 10 of this law, the offer made to natural or legal persons of Burundian nationality is declared valid for a specific period.
Securities not subscribed at the end of this period are sold on the market subject to the provisions of Article 12 of this law.
Article 19
The State is authorized to renounce its prerogative as preferred creditor over companies affected by privatization and in which it holds a direct stake. However, the principles and conditions for waiving this privilege are decided, for each case, by the Council of Ministers.
Article 20
The deed of sale or the management contract or any other document necessary to complete the transactions is approved by the CIP and signed on behalf of the Government, by the President of the CIP or, in his absence, by the Vice-President and countersigned by the responsible Minister. [...]" (Law relating to the organization of the privatization of enterprises with public participation, services and public works, 2012)
Law relating to the organization of the privatization of enterprises with public participation, services and public works, 2012
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