Business in Burkina Faso

EENI- School of International Business

Subject: Doing Business in Burkina Faso (Africa). Ouagadougou. Syllabus:

1. Introduction to the Republic of Burkina Faso (West Africa)
2. Doing Business in Ouagadougou
3. The Burkinabe economy
4. Case Study: The International Arts and Crafts Fair (Ouagadougou)
5. International Trade of Burkina Faso
6. Business Opportunities in Burkina Faso
   1. Agriculture
   2. Mining
   3. Industry
   4. Tourism
   5. Services sector
   6. Real Estate and infrastructures
7. Introduction to French
8. Access to the Burkinabe market
9. Business Plan for Burkina Faso

The objectives of the subject “Foreign Trade and Doing Business in the Republic of Burkina Faso” are the following:

1. To analyse the Burkinabe economy and foreign trade
2. To evaluate the business opportunities in Burkina Faso
3. To explore Burkina Faso's trade relations with the student's country
4. To know Burkina Faso's Free Trade Agreements
5. To develop a business plan for the Burkinabe market

Master in International Business University Ouaga II (Burkina Faso) and EENI (School of International Business)

Sample of the subject - Doing Business in Burkina Faso

EENI Professors in Burkina Fasso:

1. Dr Geneviève Barro
2. Dr Ousséni SO
3. Thierry Somda

Ouandaogo Abdoul Karim (Student of the Master in International Business University of Ouagadougou & EENI) winner of one WAEMU regional award.

Description of the Subject: Foreign Trade and Doing Business in Burkina Faso

The Republic of Burkina Faso:

Burkina Faso: one of the regional economies that have implemented more reforms.

Burkina Faso established the development strategy for future years to the opening of the regional and global markets. Burkina wishes “to become a development centre in West Africa.”

1. Burkina Faso (West Africa) shares borders with Mali, Niger, Benin, Togo, Ghana, and Ivory Coast
2. Area of Burkina Faso is 274,200 square kilometres
3. Population: 16 millions of people
4. Burkina Faso is one of the poorest countries
5. The official language is French
6. Local languages: Moore, the Fulfulde, Dioula
7. Independence: 1960 (from France)
8. Burkina is a landlocked African country
9. Capital: Ouagadougou (1.5 million)
10. The Historian Joseph Ki-Zerbo was born in Burkina Faso

Religions in Burkina Faso:

1. Islam (65% of the population, 8 million) and Christianity
2. 30% of the Burkinabe are Christians (with Catholic majorities)

Burkina Faso belongs to the West African Economic Area of the African Civilisation.

Economic Profile of Burkina Faso:

1. Currency: West African CFA Franc
2. Agriculture: 90% of Burkina's population
3. The main cash crop: cotton
4. Top exports: Cotton and gold (68%)
5. The main commodities exported by Burkina Faso: cotton, nuts, gold, cattle, goats, sheep, sesame seeds, fruits, and vegetables
6. GDP growth: 7%
7. Composition of GDP: agriculture 35%, industry 23%, services 42%
8. The main sectors of the economy: agriculture, trade and mining
9. The inflation: 3%
10. Regional Trade with another ECOWAS and WAEMU countries is very low, limited to agricultural products
11. Doing Business 2014 Index (WB): 154.
12. Positive liberalisation of the economy
13. Open to foreign investors
14. Events:
    - International Arts and Crafts Fair (SIAO)
    - Pan-African Film and Television Festival of Ouagadougou

Two Burkinabe students (receiving the Diploma of Master) receiving the Diploma of Master in International Business with Pedro Nonell (EENI's President):

National Trade Office ONAC. One of the main tasks of the ONAC is to promote international trade between Burkina Faso and the rest of the World.

Group Soyaf (Burkina). Created in 1982 by Mr Salif Yameogo (Managing Director), the Group Soyaf has become one of the biggest holding companies with international standards in West Africa and more specifically in Burkina Faso. In this new millennium, the Group Soyaf drew Burkina Faso several large multinationals whose Telecel International Group in the area of communication and the Framlington Group, a Group of investors.

TELECEL (Burkina). Founded in 1987 by Miko Rwayitaré and owned by 80% to Orascom Telecom (Egypt) since 2000, Telecel International is a multinational Group based in South Africa and Geneva. With its years of experience in Africa, Telecel has developed a single expertise in the study of projects, the establishment and operation of cellular networks on the African continent. In all its activities, Telecel International combines national private investors in the shareholding of its associated companies.

Trans-African Corridor: Trans-Sahelian Highway

The nearest ports: Port of Abidjan (Ivory Coast), Port of Lomé (Togo), Port of Cotonou (Benin), and the Port of Tema (about 1,000 kilometres).

Trade Agreements (Preferential Access) of Burkina Faso:

1. Community of Sahel-Saharan States (CEN-SAD)
2. Economic Community of West African States (ECOWAS)
3. West African Economic and Monetary Union (WAEMU)
4. US Trade Agreement (WAEMU)
5. Cotonou Agreement
6. Generalised System of Preferences (GSP)
7. African Growth and Opportunity Act (US AGOA)

Burkina is a member of:

1. New Partnership for Africa (NEPAD)
2. African Development Bank
3. Afro-Arab Cooperation - Arab Bank for Economic Development in Africa (BADEA)
4. Economic Commission for Africa (ECA)
5. African Union (AU) - Convention on Preventing and Combating Corruption
6. Summit Africa-South America
7. Organisation of Islamic Cooperation (OIC)
8. Organisation for the Harmonisation of Business Law in Africa (OHADA)
9. Islamic Development Bank
10. Forum on Sino-African Cooperation
11. Africa (Burkina Faso)-BRICS
12. Africa (Burkina Faso)-Asia Strategic Partnership
13. Africa (Burkina Faso)-India
14. Niger Basin Authority

❮ Samples - Business in Burkina Faso ❯