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Burkina Faso Cabinet Pierre Abadie

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Burkina Faso Cabinet Pierre Abadie Cabinet Pierre ABADIE charter Accountant & Law Advisor www.pierreabadie.com COUNTRY PROFILE BURKINA FASO CONTENTS investment .................................................... 11 1. BACKGROUND............................................ 2 6.11 Political stability .................................. 12 2. POPULATION ............................................... 2 6.12 Corruption ............................................ 12 2.1 Population figures .................................... 2 6.13 Bilateral investment agreements .......... 12 2.2 Population growth rate ............................. 2 6.14 Labour .................................................. 12 2.3 Age structure ............................................ 2 6.15 Foreign Trade Zones / Free Ports ......... 12 2.4 Gender ratios ............................................ 2 6.16 The main foreign investors ................... 12 2.5 Life expectancy ........................................ 2 6.17 Starting a Business ............................... 14 2.6 Ethnic Groups .......................................... 2 7. SUMMARY OF COUNTRY RISK ............. 14 2.7 Language .................................................. 2 7.1 Sovereign risk ........................................ 14 2.8 Religion .................................................... 2 7.2 Currency risk .......................................... 14 2.9 Education ................................................. 2 7.3 Risk in the banking sector ...................... 14 2.10 Health ..................................................... 2 7.4 Political risk ........................................... 15 3. ECONOMY ................................................... 2 7.5 Risk of economic structure ..................... 15 3.1 Recent economic indicators ..................... 3 8. TRAVEL TO BURKINA FASO ................. 15 3.2 Annual Outlook ........................................ 4 8.1 Airlines ................................................... 15 3.3 Growthsectors .......................................... 4 8.2 Visa ........................................................ 16 3.4 Economic growth ..................................... 5 8.3 Hotels ..................................................... 16 3.5 Inflation .................................................... 5 8.4 Health - Preventions ............................... 18 4. GOVERNMENT AND POLITICS ................ 5 8.5 Medical Services .................................... 18 4.1 Political Structure ..................................... 5 8.6 Calendar of cultural events ..................... 19 4.2 Political stability....................................... 7 8.7 Days off, public holidays ....................... 19 4.3 Election Watch ......................................... 7 8.8 Methods of payment ............................... 19 4.4 International Relations ............................. 8 9. ADDITIONAL INFORMATION ................ 20 5.TRANSPORT AND COMMUNICATIONS .. 8 5.1 Roads ........................................................ 8 5.2 Railways ................................................... 8 5.3 Harbour .................................................... 8 5.4 Airports .................................................... 8 5.5 Telecommunications ................................ 8 6. INVESTING IN BURKINA FASO ............... 8 6.2 Conversion and Transfer Policies ............ 9 6. 3 Expropriation and Compensation ............ 9 6.4 Disputes Resolution ................................. 9 6.5 Performance requirements and incentives. 9 6.6. No discrimination against...................... 10 6.7 Property rights ........................................ 10 6.8 Rights and guarantees ............................ 10 6.9 Regulatory transparency ......................... 11 6.10 Efficient financial markets and portfolio 1 www.cabinetpierreabadie.com 2.6 Ethnic Groups Burkina Faso has more than 60 ethnic groups, the 1. BACKGROUND main ones are: - Mossi 48.6% Former French colony, the Upper Volta was created - Fulani 7.8% in 1919 and obtained its independence on 05 - Gourmantché 7% août1960. In - Bobo 6.8% August 4, 1984 - Bissa - Samo 6.5% it became - Gourounsi 6% Burkina Faso, - Dagari-Lobi 4.3% which means - Bwa (Bwamu) 3% "the land of - Senufo-Marka-Dioula 2.2% upright men." - Other 7.8% Burkina Faso has had a turbulent In Burkina Faso also resides foreign community: political history characterized by alternating - Africans between states of emergency and constitutional - Europeans regimes. With the adoption by referendum of the - Arabic Constitution of June 2, 1991, Burkina Faso enters the era of democratization. Since then the Burkina 2.7 Language Faso has a permanent stability and confirms its The official language is French. democratic statehood in West Africa. He The national languages are: participated with remarkable success in various - Mooré mediations for peace and stability in the West - Dioula African sub-region. - Fulfuldé Since the early 90s, Burkina Faso is in a dynamic of reforms to liberalize the economy and to promote the private sector as the main actor of development. 2.8 Religion Burkina Faso is located in the heart of West Africa, The main religions practiced in Burkina Faso are: with an area of 274,200 km ², its capital city is - Islam: 60% Ouagadougou and the official language is French - Christianity: 23.2% the currency is the CFA Franc. - The traditional religion: 15.3% - Other religions: 0.6% 2. POPULATION - No religion : 0.4% 2.1 Population figures In 2013, the population of Burkina Faso was 17.8 2.9 Education million people with a density of 64.9 inhabitants The gross enrollment rate increased from 77.6% in per km2. 2011 to 79.6% in 2012. The number of refugees residing in Burkina Faso is In the context of the MDGs Burkina Faso aims to 50,000 (Malians) moved to the north of the country. achieve a literacy rate of 60% of the population in 2015. 2.2 Population growth rate 3,07 % (2012). 2.10 Health The health system in Burkina Faso is exercised in 2.3 Age structure public and private health facilities such as hospitals, Burkina Faso (2012) regional hospitals, health centers and social 45.7% of the population is under 15 years - promotion. Burkina Faso has the build sub-regional - 51.8% of the population is between 15 and referral hospital (University Hospital Blaise 64 years, COMPAORE). - 2.5% is over 64 years. To promote the health sector the government of Burkina Faso has adopted a national health development plan and would like to implement a 2.4 Gender ratios universal health insurance. Men : 48% Women : 52% 3. ECONOMY Burkina Faso is a member of the West African 2.5 Life expectancy Economic and Monetary Union which it houses the Life expectancy is 54.43 years in general seat. He works for greater regional integration with a common external tariff and a more stable 2 www.cabinetpierreabadie.com monetary policy. initiative, The economic outlook for 2013 is favorable and the further withdrawal of the State, rate of projected growth is expected to be 6.7 % and building capacity of enterprises, beyond against 8.0 % in 2012. The continuing trend the development of private sector support of growth is 6 to 8 % due to strong primary and institutions, tertiary sectors, which are the engines of economic The development and strengthening of vocational sectors. The primary sector, driven by subsistence training high-level agriculture sub-sectors (11.0 % of GDP) and cash Developing the potential of the agricultural, agro- (3.5 % of GDP) and livestock (11.3 % of GDP), is industrial and livestock, the cornerstone of the economy. The above sub- The private sector funding, sectors to print their own pace secondary and Infrastructure development, tertiary sectors Also, the strong dependence on the The incentive for the creation and preservation of primary sector to the weather is a source of jobs, weakness for the fundamentals of the economy. The development of the mining sector. Gold production, the mainstay of the secondary sector experienced a sharp slowdown in 2012 (0.7 Burkina Faso has decided to promote private %) against a growth of 39.4 % in 2011. This is due sector-induced growth. Government intervention in to the delay in the operation of the gold mine of this framework has allowed the implementation of Bissa Gold. This tends to stabilize the output should many reforms. be corrected from 2013, with the expected increase in production of at least 10.4 %. Inflationary The evolution of the growth rate of GDP is as pressures will be contained to 2.2 % in 2013, below follows: the convergence of the Economic and Monetary Union of West Africa (UEMOA), against 3.6 % in 2012. Burkina Faso is committed to an accelerated growth program. It intends to implement a new model of growth based on growth poles, including Bagré which represents the first of its kind. It comes to organize the exploitation of natural resources, particularly in the agricultural sector, by increasing the value chain of some promising sectors (livestock products, fruits and vegetables, shea butter, sesame) through the agribusiness to reduce the heavy dependence of the country duo consisting of gold and cotton. 3.1 Recent economic indicators Share of major sectors in GDP in 2008: Growth rate of GDP Agriculture: 34.1 % Industry: 26.5 % Economic data on Burkina Faso Services: 39.3 % Statistics 2008 2007 On the economic side, the government's efforts in Basic Indicators the implementation of structural reforms are Growth rate of GDP (%) 4.2 3.6 recognized
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