Burkina Faso Country Focus

Burkina Faso country overview

Burkina Faso is a landlocked country in West Africa around 274,200 square kilometres (105,900 sq mi) in size. It is surrounded by six countries: Mali to the north; Niger to the east; Benin to the southeast; Togo and Ghana to the south; and Ivory Coast to the southwest. Its capital is Ouagadougou. As of 2014, its population was estimated at just over 17.3 Million.

Formerly called the Republic of Upper Volta, the country was renamed "Burkina Faso" on 4 August 1984 by then-President Thomas Sankara. Citizens of Burkina Faso are known as Burkinabè. French is the country official language.

Before the conquest of what is now Burkina Faso by the French and other colonial powers during the late 19^th century the country was ruled by various ethnic groups including the Mossi kingdoms. After gaining independence from France in 1960, the country underwent many governmental changes. Today it is a semi-presidential republic. Blaise Compaoré was the most recent president and ruled the country from 1987 until he was ousted from power by the popular youth uprise on October 30^th and 31^st, 2014.

Burkina Economic Review

	2010	2011	2012	2013	2014
	Amount in Billion XOF
GDP (Billion XOF)	4 454	5 060	5 701	5 987	6 220
GDP (Billion USD)	8,91	10,12	11,40	11,97	12,44
Population (Million)	15,8	16,3	16,9	17,4	17,9
GDP per Capita (000 XOF)	281,0	309,6	338,3	344,5	347,1
GDP GROWTH (%)	13,0%	13,6%	12,7%	5,0%	3,9%
Inflation (yearly average %)		2,8%	3,8%	2,0%	2,0%
Current account balance (% GDP)		-1,3%	-2,1%	-5,2%	-8,2%
Public dept (% GDP)		29,7%	27,3%	31,4%	38,7%

STRENGTHS

• ·         Africa leading cotton producer
• ·         Increase importance of gold production
• ·         Good economic policy record and implementation of structural reforms
• ·         Support of the international financial community (one of the first countries to benefit from the Heavily Indebted Poor Countries initiatives)

WEAKNESSES

• ·         Economy highly exposed to climatic vagaries
• ·         Vulnerability to change in cotton and gold prices
• ·         Heavy dependence on foreign aids
• ·         Landlocked country
• ·         Demographic pressure and high poverty rate

RISK ASSESSMENT

Growth sustained by agriculture and an expanding mining sector

There was strong growth in 2013, driven by cotton production and the mining boom. Then 2013-2014 agricultural campaign has got off to a promising start, with regard to rain forecasts, and continued investment under the Strategy for Accelerated Growth and Sustainable Development will maintain a high rate of growth in 2014.  The most significant risk affecting the economy is a fall in cotton and gold prices. Government efforts aimed at increasing cereal and cotton production are expected to lead to an increase in sown acreage. The measures relate to the distribution of improved seeds, better prices for producers, input subsidies and the clearing of arrears. Infrastructure investments relate to Donsin airport under the Bagre Growth Pole Project. The coming on-stream of the Bissa gold mine in January 2013 increased gold production. The primary sector’s dependence on weather conditions remains a source of weakness. It is planned to reduce dependence on gold and cotton by encouraging agribusiness in the sectors of cattle rearing, fruit and shea butter production.

The success of the agricultural campaign has brought inflation down below the WAEMU target (3%).                                                                 

POLITICAL SITUATION

October 2014 was a particular month in Burkina Faso with the announcement of the review of the Article 37 of the constitution to maintain President Blaise Compaore in power after 27 years. An up-rising chased him from the power and the country.

The post Blaise Compaoré was managed with a lot of maturity by the army, civil society organizations, International organizations and some African Presidents. A transition government was set for one year with the main objective to hold transparent elections which were held in November 2015 with the election of Roch March Christian KABORE as democratically elected President.

The Government of transition experienced liquidity gaps. In addition to funds rising through issuance of Treasury Bills and Bonds huge sums are required from State owned companies which significantly reduced their deposits with Banks.

Burkina Faso is a member of the African Union, Community of Sahel-Saharan States, La Francophonie, Organisation of Islamic Cooperation, Economic Community of West African States, and United Nations.

Where to visit

The Koubri monastery and convent

Located at about 30 kms from Ouagadougou on the way to Po; you can buy excellent cheese in a small rural friendly place surrounded by lakes.

Laongo Sculptures

At about 30 kms from Ouagadougou on the way to Fada N'Gourma, one can see the granite carvings of Laongo. These works were created by artists from around the world.

Manega Museum

The Manéga museum is located in the Mossi region on the road to Kongoussi about 55 kilometers from Ouagadougou.

The crocodile pond

The crocodile pond of Bazoulé, also worth visiting, is located at 30 kms from Ouagadougou on the road to Bobo

Ziniaré Animal Park

There is another wildlife park in Ziniaré, 30 kms east of Ouagadougou.

The Nazinga ranch

The Nazinga ranch covers over 100,000 hectares and includes nearly 600 km of slopes. It was built by the Belgian cooperation and has become a natural reserve. 

The Pô animal park

Not far from Po, one can see a large variety of monkeys, warthogs and antelopes ... In short, all types of animals

The village of Tiébélé

The village of Tiébélé is located in the Gurunsi region, next to Pô. It has beautiful colorful houses which are repainted every year. You can go just for the day or for pass the night.

National Heroes Monument

This monument is located on the way to the Presidential Palace when coming from Circulaire. It is a place to visit as it is dedicated to all heroes of the country.

Hotels

1. LAICO HOTEL: located in Ouaga 2000 not far from the Presidency
2.  
3. LE SILMANDE SOPATEL: located near the center of the town in a very quiet environment
4.  
5. LE SPLENID HOTEL: located in the center of the town on the busiest avenue KWAME N’KRUMAH
6.  
7. PALM BEACH HOTEL: located in the center of the town on the busiest avenue KWAME N’KRUMAH
8.  
9. ROYAL PALM BEACH: located near one of the busiest car park on the road to Fada and Eastern Overhead Bridge
10.  
11. PALACE HOTEL: located in Ouaga 2000 not far from the Presidency

Bars

1. Espace Zoodo: Gounghin (on the Fespaco avenue opposite the Tam Tam restaurant)
2. Madiba:         Rasta bar opposite stade du 4 Aout
3. Boulougou:   Popular bar in Koulouba
4. Le Bar K:         in Koulouba, european atmosphere
5. Stade municipal: Bar with chicken and kebabs
6. Le Daba:        Live concerts on weekends in Tampouy

Night clubs

1.    Le Majestic:  middle of town

2.    Le Nirvana:    Cité an III

3.    Le Privé:         middle of town, close to Hôtel Relax

4.    Showroom:    Koulouba

5.    Le Zoodo:      same road with Verdoyant restaurant on the way to Dapoya

6.    Le Rex Club: on avenue Charles de Gaulle, live concert on Sunday evenings

7.    Le Calypso:   Same road with Espace Volontariats, free

8.    The Mask:      Located in LAICO Hotel

Restaurants

1. Vert Galant  Ouaga 2000
2. Coq Bleu Kwame N’Krumah
3. Aboussouan  Gounghin
4. Hamanien Kwame N’Krumah
5. Gondwana Zone du Bois
6. Le Bistrot Lyonnais close to the Ministry of Finance
7. City resto bar in Kouloub
8. Sofra in Ouaga 2000
9. Le Restaurant de Chine, same building with Gallery Noble