2008 Commercial Guide
Chapter 1 - Doing Business in Burkina Faso
Chapter 1-3 Market Opportunities
Burkina Faso's limited market is offset by a stable commercial environment and the potential to exploit the larger West African francophone market. Burkina Faso is a member of the West African Monetary and Economic Union (WAEMU), and its currency is the Community of Francophone Africa Franc (CFAF). The CFAF, backed by the French treasury, trades at a fixed rate with the Euro, and is fully convertible.
Foreign investment is welcome in Burkina Faso. Investment and mining codes permit full repatriation of profits, 100 percent ownership of companies, and many tax exemptions. Investors have recently shown interest in the mining industry (particularly the gold sector) since Burkina Faso lies between the gold-rich countries of Mali and Ghana. Competitively-priced necessities such as generic pharmaceuticals, medical supplies, fertilizers and chemical products are best poised to enter the market. Telecommunications, computer equipment, new and used clothing, and used civil engineering equipment are U.S. exports that already capture a significant market share.