BUSINESS OPPORTUNITIES IN BURKINA
WEST AFRICAN CFA FRANC
Make billions in Burkina Faso. Become a billionaire.
Burkina Faso is country located in West Africa which was earlier known as Republic of Upper Volta till 1984 and is a landlocked country which is bordered by Niger in the northeast, Benin to the southeast, Mali in the northwest, Togo & Ghana in the south & Ivory Coast in the southwest. The approximate population of Burkina Faso as of 2020 is approximately 21 million. The capital city of Burkina Faso which is also the largest city of the country is Ouagadougou. The major religion of the country is Islam with Christianity being the second most followed religion of the nation. The official currency of the country which is West African CFA franc is also the currency of 7 other major West African countries namely Ivory Coast, Senegal, Togo, Mali, Niger, Guinea-Bissau & Benin. Even though the country is plagued with several military coups, it hasn’t hampered the progress of the nation however the country is counted amongst the lead developed countries of the world and there are major investment opportunities available in the country. The majority of the population of Burkina Faso is engaged in agricultural activities. The country has large economic potential in sectors such as mining, agriculture, tourism, manufacturing etc. Burkina Faso has an open economy for the foreign investments & the investors can feel secure about the macroeconomic environment of the country. The majority of FDI in Burkina Faso is dedicated in the mining sector and the gold mining sector has blossomed in the last decade. The government has laid down several policies & tax incentives to attract the investors to invest in the country and opportunities are available not just in the mining sector but in several sectors across the country.
The rapidly growing population of Burkina Faso is a problem for the nation & the government understands that private investment in the country is paramount for generating the employment opportunities for the population of the country and thus the FDI opportunities in the country has increased rapidly. The investors setting their base in Burkina Faso can access a lot of bordering countries of the nation & generate some excellent ROI for their businesses. Once an investor enter into a foreign country, they can not only invest in the sector they initially invested but also can expand their business to other sectors if they see the opportunities and trust us when we tell you that Burkina Faso has plethora of opportunities in many sectors of the country. Burkina Faso has large arable lands which are not yet exploited to their potential and the major focus of the agricultural work force is to grow cotton & several other commodities which can increased easily with the use of correct technology & new agriculture techniques.
Types of Business which be started in Burkina Faso-
- Agriculture & Agribusiness– Burkina Faso has huge agricultural potential which is enough to attract any investor. The country is blessed with large arable lands, excellent work force & suitable climatic conditions. The agricultural production of Burkina Faso has immense opportunities and in turn the agribusiness also holds potential because of this reason. The country is amongst the top producers of several agricultural commodities such as cotton, cashew, shea, gum, mango & sorghum. According to ABI which is an agency for the Burkina Faso Investments, the country is the second largest producer of fruits & vegetables in West African region.
- ICT– The ICT sector holds immense opportunities for the investors in Burkina Faso as the country is developing fast and just technology is needed for the development of any country. The government of Burkina Faso is focusing on increasing the internet activity by providing fast internet facilities to its population. The impact of fast internet & telecommunications sector will be that it will contribute towards making the country’s economy digitalized. The fast growing population also provides large investment opportunities to the investors.
- Education– Burkina Faso has one of the poorest literacy rates for the adults in the West African region and that has a huge impact on the growth of the country. The lack of educated population impacts the country’s economic growth as the productivity is also very low. The government of Burkina Faso has kept education as of the priority sectors of the country. There are plenty of opportunities available in the education sector for private investors as they can build schools, universities, training centers etc.
- Healthcare– The government of Burkina Faso has invited FDI in the healthcare sector in several departments such as building hospitals, manufacturing pharmaceuticals, training personnel in healthcare, maintenance of ambulances and hospitals etc. These healthcare opportunities are immense in Burkina Faso because of its large population & for those investors who are planning to invest in Pharmaceutical factories can export the produce in other countries as well.
- Infrastructure– The real estate development is growing at a rapid pace in Burkina Faso and the country is trying to urbanize itself. The basic infrastructure facilities & constructions are also going on in the country to provide the investors with an extremely feasible business environment and by providing them with top quality infrastructure to run their businesses. There are opportunities available in the construction of roads, railways, airports etc.
- Tourism-Burkina Faso is an excellent location for the tourism sector as the country has a huge potential to become one of the leading investment location for the investors interested in the tourism sector. The country not only has 3 world heritage sites also consists of beautiful wildlife, large forests, huge mountains etc. The investors can invest in this sector ranging from activities such as development of tourists sites, managing infrastructures, opening restaurants and hotels etc. For more information on the same contact Team Opesh Singh.
Advantages of starting a Business in Burkina Faso-
- Burkina Faso has a common currency area of reaching around 120 million consumers all of whom use West African CFA franc as their currency & which is a huge customer base for any business.
- Another advantage of investing in Burkina Faso is that the country has a huge population of 21 million as of 2020 & the bordering countries of Burkina Faso also have high population count which gives the businesses a huge customer base to target.
- The country has a large young work force which is easy trainable & molded according to the needs of the business.
- Burkina Faso is considered amongst the least corrupt countries in the African region and this factor is very essential for a business to run smoothly without any hurdles.
- The country has a large agricultural population which provides the availability of local good quality raw materials the food processing companies easier with low cost and that is a wonderful advantage for any business.
- India has an embassy in Burkina Faso which was restarted in 2019 which is keen to help Indians in case they face any problems which are under the jurisdiction of the embassy. So the Indian investors can expect the help in a nation far away from India.
Business Opportunities for Indians in Burkina Faso-
Burkina Faso is considered amongst the top 5 producers of Gold in Africa. The development of mining sector in the country is spectacular since the establishment of new mining policies in the year 2015. Mining sector contributes heavily to the country’s GDP & provide large foreign exchange to the nation. Burkina Faso is endowed with rich geology and the mining sector of the country is expected to grow heavily in the coming years. The country is not only rich in gold but also has many other natural resources such as manganese, limestone, phosphate, bauxite, copper etc. Burkina Faso which is not considered amongst the poorest countries in Africa can see a change in its fortune if the investments are made in the mining sector of country and the huge natural resources of the nation are exploited properly.
The manufacturing sector of Burkina Faso is growing rapidly and the contribution of the manufacturing sector to the country’s GDP in the year 2018 was 8% and that is expected to grow to a huge share in the coming years. The availability of raw materials in the country and easy import policies on the raw materials has given an added advantage to the manufacturing sector. The country’s huge population & the market base of other countries which are nearby along with the large population of several member countries are the other advantages of manufacturing sector and the investors are sure to enjoy dealing with such a huge customer base. The investors can invest in the manufacturing sector of Burkina Faso with the expectations of high returns.
Imports & Exports-
The trading sector of Burkina Faso provides excellent opportunities to the investors as because of limited number of manufacturing companies in the country, it is highly imperative that it has to depend upon the imports & exports sector for fulfilling the demand of the population. The manufacturing companies of Burkina Faso which are not dependent upon the agricultural commodities produced in the country also have to import the raw materials from other countries for their production requirements. The major imports of Burkina Faso are petroleum, pharmaceuticals, rice, electrical equipment etc. The major exports of the country are gold, cotton, shea, zinc, cashew etc.
Major Indian Companies working in Burkina Faso-
- Alok Industries Limited
- Mohan Exports
- Bharti Airtel
- Skipper Group
- Angelique International Limited
GDP= $17.50 billion
GDP Growth= 6.4%
Ease of doing business rank= 151
GDP per Capita= $700
Thanks for reading these Artical. Watch our Video and know more about Burkina Faso. For any Business Enquiry Join Millionaire Program and change everything in life and Business.. Call/ WhatsApp +91- 8094607111.
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