Country FilesWestCountry Profile 2014: BURKINA FASO

Sat,18Nov2017

Posted on Saturday, 08 February 2014 16:34

Country Profile 2014: BURKINA FASO

Opposition needs a new broom

The year 2014 will bring Burkina Faso another step closer to a decision from President Blaise Compaoré on whether he will relinquish power, which he has held since 1987, or attempt to change the constitution to run again in 2015. The opposition and its allies in civil society campaigned against the creation of a senate and the high cost of living in 2013, in attempts to hold the government to account. Inspired by the role of the group Y’en a Marre (Enough is Enough) in Senegal, a group of musicians formed the Balai Citoyen (Citizens’ Broom) to call for a change in government and protest against corruption.

 

 

TABLE OF CONTENTS:

TOP BURKINABÉ COMPANIES

TOP BURKINABÉ BANKS

ar-infographie-burkina-faso-2014Opposition needs a new broom

The opposition fears Compaoré will change term limits in the constitution

High receipts from gold and cotton exports continue to boost the economy

The year 2014 will bring Burkina Faso another step closer to a decision from President Blaise Compaoré on whether he will relinquish power, which he has held since 1987, or attempt to change the constitution to run again in 2015. The opposition and its allies in civil society campaigned against the creation of a senate and the high cost of living in 2013, in attempts to hold the government to account. Inspired by the role of the group Y’en a Marre (Enough is Enough) in Senegal, a group of musicians formed the Balai Citoyen (Citizens’ Broom) to call for a change in government and protest against corruption.

The December 2012 legislative elections shook up the ranks of the opposition, but Compaoré’s Congrès pour la Démocratie et le Progrès took 70 seats and maintained its majority in the national assembly. Zéphirin Diabré’s Union pour le Progrès et le Changement, set up in 2010, has taken up the leadership of the opposition with 19 seats in parliament.

SENATE PLAN PUT ON HOLD

Much of the political debate in 2013 is related to the government’s plans to create a senate. The national assembly approved plans for the upper house in May 2013, but the parties of the opposition took to the streets to protest in July. It would cost 3-5bn CFA francs ($6-10.5m) to create the senate from an already overstretched state budget, the opposition argued.

The government is sensitive to popular protests because of the military mutinies and student protests of 2011. Compaoré is still defence minister, a post that he took up after the mutiny of April 2011 that was linked to anger inthe lower ranks of the armed forces. The security forces have also been worried about the impact of instability in neighbouring Mali. During protests, opposition leaders said they believe Compaoré would like to use the senate in order to modify Article 37 of the constitution, which limits him to two consecutive terms that would come to an end in 2015. Compaoré backtracked in August and suspended plans for the new legislative body.

The debate about Compaoré’s succession is likely to get livelier in 2014 and has already overshadowed discussions about economic policy, especially for the growth pole at Bagré. That is the centrepiece of the government’s Stratégie de Croissance Accélérée et de Développement Durable, which will cost 7.5trn CFA francs and targets economic growth of 10% by 2015. The state is financing 63.3% of the budget. The growth pole project –dubbed Bagré Pôle – is under way and promises to irrigate 500,000ha of land. The goals for Bagré Pôle are the production of 450,000tn of foodstuffs, up from 157,000tn in 2011, and the employment of 20,000 people through rice projects, husbandry, aquaculture and horticulture.

SECTORS REVAMPED

The government is also relying on the mining sector to raise more revenue. The country’s eight gold mines were due to produce more in 2013 than the 42.4tn in 2012. Gold production is set to reach 55tn by 2017. The Conseil des Ministres approved a new mining code in October, with provisions for larger state stakes in mining projects and stronger environmental regulations.

The cotton sector is picking up again after a terrible 2011/2012 season that produced just 417,000tn. Due to better rains, the 2012/2013 season brought a harvest of 630,000tn, also the result of a calmer social climate and the adoption of genetically modified cotton varieties by the country’s top producer, state-owned Société Burkinabè des Fibres Textiles.

Companies have a target of 700,000tn for the 2013/2014 season. The government is continuing with infrastructure development plans,which include the Ouagadougou-Donsin airport , rehabilitation of the Ouagadougou-Abidjan rail road and construction of a highway between the capital city and Bobo-Dioulasso. The International Monetary Fund has suggested the government take steps to improve the provision of electricity. It predicts demand will grow by 45MW in both 2014 and 2015. The World Bank, Agence Française de Développement and European Investment Bank are financing an interconnection with Ghana that will help to increase supplies.

 

 TOP BURKINABÉ COMPANIES

Rank 2012Rank 2011CompanySectorCountryTurnover (Thds $)Turnover changeNet profits
196215SOC. NAT. BURKINAB DHYDROCARBURESPETROL. SERVICESBURKINA FASO689,62814.22%9,522
328432TOTAL BURKINAPETROL. SERVICESBURKINA FASO375,32752.11%0
398386SOCIT BURKINAB DES FIBRES TEXTILES*COTTONBURKINA FASO291,028NA1,283
470470SEMAFO BURKINA FASO*MININGBURKINA FASO224,109NA0
 

 TOP BURKINABÉ BANKS

Rank 2012Rank 2011Bank nameCountryTotal assetsNet interest incomeLoansDeposits
174162ECOBANK BURKINA FASO*BURKINA FASO602,06638,450352,542436,982
177184CORIS BANK INTERNATIONALBURKINA FASO589,71234,250314,521299,870
183-BANK OF AFRICA BURKINA FASOBURKINA FASO551,88230,838268,668430,425
 


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