Burkina Faso RISK & COMPLIANCE REPORT DATE: September 2017
Burkina Faso RISK & COMPLIANCE REPORT DATE: September 2017 KNOWYOURCOUNTRY.COM Executive Summary - Burkina Faso Sanctions: None FAFT list of AML No Deficient Countries Compliance with FATF 40 + 9 Recommendations Higher Risk Areas: Not on EU White list equivalent jurisdictions Weakness in Government Legislation to combat Money Laundering Medium Risk Areas: Corruption Index (Transparency International & W.G.I.)) World Governance Indicators (Average Score) Failed States Index (Political Issues)(Average Score) Major Investment Areas: Agriculture - products: cotton, peanuts, shea nuts, sesame, sorghum, millet, corn, rice; livestock Industries: cotton lint, beverages, agricultural processing, soap, cigarettes, textiles, gold Exports - commodities: gold, cotton, livestock Exports - partners: China 25.9%, Turkey 24.8%, Belgium 5.2% (2012) Imports - commodities: capital goods, foodstuffs, petroleum Imports - partners: Cote dIvoire 17.6%, France 15.2%, Ghana 4.8%, Togo 4.4% (2012) Investment Restrictions: 1 The Government of Burkina Faso (GOBF) wishes to attract more foreign direct investment (FDI) and has been implementing, over the years, reforms to make Burkina Faso more attractive to international investors. Under the investment code, all personal and legal entities lawfully established in Burkina Faso, both local and foreign, are entitled to the following rights: fixed property, forest and industrial rights; concessions; administrative authorizations; access to permits; and participation in state contracts. 2 Contents Section 1 - Background
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