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BURKINA FASO

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ICDT’s Member States Business Guides
BURKINA FASO
I.
PROFILE
Burkina Faso is located at the center of the West Africa region. It is bordering
on the North and West by Mali, on the Northeast by Niger, on the Southeast by
Benin, and on the South by Togo, Ghana, and Côte d’Ivoire.
Burkina Faso.
Official name
274,200 sq km
Area
11.3 million inhabitants in 1999
Population
Ouagadougou
Capital
Bobo-Dioulasso, Koudougou, Banfora, Ouahigouya, and Fada N'gourma
Major cities
Frensh is official language.
Language
CFA Franc. 1$ US= 652.95 CFA Francs in 1998
Currency
Located in the Sudanese-Sahelian zone, Burkina Faso is characterised by a
Climate
humid climate of tropical nature. There are three seasons: dry and hot season
(March-June), the rainy season (July-October) and the intermediary season
during which the weather is milder (November-February). Temperatures range
between 10°C and 42°C.
January 1st, may 1st, August 4th and 5th and 15th, 15th October, November 1st,
Main Holidays
December 11th, December 25th, Toussaint, Eid Al-Fitr*, Eid Al-Adha*, Easter
Monday and Ascension Day.
Government offices: Friday through Sunday
Weekly day off
Commercial establishments: Sunday
Banks: Saturday p.m. - Sunday
GMT
Local time
Services and administrations: from 7 a.m. to 12.30 a.m. from Monday through
Working hours
Friday.
Commercial establishments: From 8 a.m. 12 a.m. and from 3 p.m. to 5.30 p.m.
from Monday through Friday
Principle Growth Agriculture, light industry.
Sectors
Location
(*) Variable dates
II.
ECONOMIC SECTORS
II.1 AGRICULTURE
This sector represents 34% of GDP, products cotton, millet, sorghum, rice, livestock, peanuts,
shea nuts, and maize. It is the principal source of employment and revenue for about 85percent of
the population and which accounts for nearly 60percent of export earnings.
The agricultural economy remains highly vulnerable to fluctuations in rainfall. The Mossi Plateau
in north central Burkina faces encroachment from the Sahara. The resultant southward migration
means heightened competition for control of very limited water resources south of the Mossi
Plateau. Most of the population ekes out a living as subsistence farmers, living with problems of
climate, soil erosion, and rudimentary technology.
ICDT’s Member States Business Guides
The staple crops are millet, sorghum, maize, and rice.
The cash crops are cotton, groundnuts, karite (shea nuts), and sesame. Livestock, once a major
export, has declined.
II.2 INDUSTRY, TRADE AND SERVICES
Industry, still in an embryonic stage, is located primarily in Bobo-Dioulasso, Ouagadougou,
Banfora, and Koudougou.
Industry: mining, agricultural processing plants, brewing and bottling, light industry.
Manufacturing is limited to food processing, textiles, and other import substitution heavily
protected by tariffs. Some factories are privately owned, and others are set to be privatised.
Burkina's exploitable natural resources are limited, although a manganese ore deposit is located
in the remote northeast.
Gold mining has increased greatly since the mid-1980s and, along with cotton, is a leading export
money earner.
The industrial sector in Burkina continues to represent a fairly constant percentage of GDP, about
15 percent. Companies in the import-substitution manufacturing sector primarily constitute this
figure.
Trade and services (including the informal sector) contribute to GDP at an average of about 25
percent.
III.
INFRASTRUCTURES
Burkina Faso offers a limited but good infrastructure for business.
In addition to trade and business associations, an active Chamber of Commerce and a system of
trade unions provide support for all types of business activities.
III.1 ROAD NETWORK
Burkina has over 13,000 kilometres of roads, although only about 14% are paved.
Ouagadougou is linked to both Bobo-Dioulasso (Burkina Faso's second largest city) and Abidjan
(Cote D'Ivoire) by paved road and railway.
III.2 RAIL NETWORK
The transport infrastructure includes 622 km. (400 miles) of railway.
This railway links, also, Ouagadougou to Bobo-Dioulasso and Abidjan in Cote d'Ivoire (517
km.).
A railway connects Burkina Faso with the excellent deepwater port at Abidjan, Cote d'Ivoire,
1,150 kilometres (712 mi.) away.
III.3 AIR TARNSPORT
International air service is provided by Air Afrique, Air France, Air Algérie, Aeroflot, Sabena
Airlines. Air Ivoire and Air Burkina provide regional service to the capitals of most neighbouring
countries.
Burkina has 33 Airports (1998 est.); 2 are with paved runways.
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III.4 MARITIME TRANSPORT
Abidjan, in Côte d’Ivoire, is one of two major ports used by Burkina Faso for bulk imports and
exports.
Such ports as Abidjan and Lome serve as key gross routes and shipping points for Burkina's
imports/exports. Abidjan is also the railhead for the joint Ivorian-Burkina railway line.
International freight forwarders and express mailing agencies are established in Burkina Faso.
III.5 TELECOMMUNICATIONS
Burkina Faso offers direct-dial satellite telecommunications to Europe and America.
Domestic: microwave radio relay, open wire, and radiotelephone communication stations
international: satellite earth station—1 Intelsat (Atlantic Ocean).
IV.FOREIGN TRADE REGULATIONS
IV.1. LEGAL FRAMEWORK OF TRADE REGULATIONS
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Burkina Faso is member of the following international organisations:
World Trade Organisation (WTO);
Organisation of the Islamic Conference (O.I.C) ;
United Nations Organisation (U.N) and its specialised organs (IMF, World Bank);
Organisation of the African Unity (OAU);
West African Economic and Monetary Union (UMEOA);
Economic Community of West African States (ECOWAS);
Conseil de l’Entente;
Liptacko Gourma;
African Development Bank;
Burkina Faso signed a commercial and economic co-operation agreement with African,
European, and Asian countries.
IV.2- TRADE STRUCTURE
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IV.2.1 Main exported products
Cotton;
Gold;
Live animals and breeding products;
Karite, nuts, string beans and leather.
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IV.2.2.Main imported products
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Capital goods;
Food products;
Oil products;
Intermediate goods
IV.2.3. Main trading partners
Main Suppliers
-Singapour
-Italy
-Brazil
-France
-Ghana
Main Customers
-Côte d’Ivoire
-France
-Togo
-Nigeria
-Belgium
IV.3. FOREIGN TRADE REGULATIONS:
IV.3.1.Imports regulations:
Goods exported to Burkina Faso must be coupled with the following documents:
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Four copies of the invoice indicating the FOB value of goods;
Certificate of origin or EUR which is available for the importer or banks;
Phytosanitary certificate for unprocessed vegetable products;
Sanitary certificate for meat and meat products;
Carrier’s document:
Insurance for any merchandise whose value is higher than CFA F50, 000.
IV.3-2 Exports regulations:
Within the framework of export promotion, Burkina Faso like the other UMEOA countries
trimmed down its regulations. Exports are liberalised in Burkina Faso subject to declaration and
payment by banker’s order.
3.3 Other formalities and documents:
Any merchandise whose FOB value is higher or equivalent to CFA F 150,000 is subject before its
shipment to quality, price and quantity inspection.
Personal and objects, gifts etc… are exempt from this formality.
Upon this control the authorities deliver a certificate (AV) or CRF (clean report findings) without
which goods cannot be cleared through customs on arrival to Burkina Faso.
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IV.4. FINANCIAL REGULATIONS OF FOREIGN TRADE OPERATIONS:
IV.4.1. Banking system:
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Member of the U.M.E.O.A, Burkina Faso is not provided with a Central Bank. This function is
ensured by Banque Centrale des Etats de l’Afrique de l’Ouest, (BCEAO).
Burkina Faso is provided with an important baking network:
Banque Internationale Burkinabe (BIB);
Banque Internationale pour le Commerce, l’Industrie et l’Agriculture (BICIAB-B);
Banque Nationale du Burkina (BNB);
La Caisse Nationale de Crédit Agricole (CNCA);
L’Union Revolutionnaire des Banques (URB) for the financing of local authorities;
La Caisse Autonome d’Investissement (CAI);
La Banque pour le Financement du Commerce et de l’Industrie (BFCI);
Financial BC (Geneva).
IV.4.2. Foreign exchange system:
Since Burkina Faso is a member of the Franc Zone; its exchange system is based on the
U.M.E.O.A principles; within the franc zone exchange is free from control and common
regulations are applied on countries outside this zone.
Foreign currency export is subject to an exchange authorisation and a domiciliation in a
recognised paying agency.
The Central Bank supervises the monetary policy within the UMEOA countries.
IV.4.3. Methods and means for international payment:
The payment of import and export operations is made through commercial banks.
The modes of payments depend on the kind of relationships between operators and their partners.
IV.5. CUSTOMS TAXATION
Customs taxation is valued on CIF Basis.
IV.5.1 Applicable duties and taxes
Unless otherwise specified, Goods imported to Burkina Faso are subject to the following duties
and taxes:
ƒ Customs duties: 5% on CIF;
ƒ Import Taxes (DFI): 4% to 9%, 26% or 32% (as the case may be ), on CIF;
ƒ Import Statistical Tax (TAX): 4% on CIF;
ƒ Communal Solidarity Levies (PCS): 0.5% on CIF,
ƒ Special Intervention Tax (TSI): 1%;
ƒ Value Added Tax (VAT): 10 to 15%.
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IV.5-2 Special provisions
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Batteries, polyethylene bags, tomato purée, eggs, tiles, inner tubes, tires, wheat flour,
frozen sea fish, bicycle spare parts are subject to a sliding scale protection tax (TDP). It is a
transitory tax, which ends after three years. The initial rate is 30% with an 10% decrease?
This tax was applied in January 1994.
Cyclical import tax (TCI) is applied in the event of frequent fluctuations affecting import
prices in order to homogenise import prices with domestic price. The products concerned are
sugar, rice, maize, millet, sorghum and wheat.
V. FOREIGN INVESTMENT
V.1 OPENNESS TO FOREIGN INVESTMENT
The Burkinabe government welcomes foreign direct investment. The development of the private
sector is a key goal of the economic reforms undertaken by the government. Given the limited
capital resources available in Burkina Faso, the government is actively seeking foreign direct
investment.
V.2 INCENTIVES OFFERED TO FOREIGN INVESTORS
Burkina's Structural Adjustment Program (SAP) includes a program of streamlining of trade and
investment regulations/procedures in order to encourage increased investment opportunities and
business growth; the government has successfully begun the process, which continues as of this
writing.
There are no restrictions on the type of business organization in Burkina Faso. Most French
business organizations are permissible and found here.
These include: individual enterprises, public corporations, limited liability companies, limited
share partnerships etc. Subsidiaries and affiliates of foreign companies are also permitted to
register and operate in Burkina.
The investment code (1992) guarantees equal treatment under the law to both foreign and
domestic investors. The ministry of Industry, Commerce, and Mines approves all new
investments, foreign and domestic, based on the recommendation of the national investment
commission.
The 1992 Investment Code established three incentive schedules.
Schedule "A" is for investments of less than 200 million CFA (USD360,000 approx.) and
provides a company with an exemption from most taxes during its first five years of existence. A
50percent tax credit is granted for the ensuing five-year period. Furthermore, companies in
schedule "A" are permitted to stagger payment of the registration tax over a four-year period. The
registration tax is equal to 3 percent of the company's initial capital or the capital increase.
Schedule "B" is for larger investments (over CFA 200 million) and provides a company with an
8-year tax exemption from most burkinabe taxes. It also enables a company to spread the
payment of the registration tax over a 5year period.
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In addition, all schedule "A" and "B" investments located outside the country's two major cities,
Ouagadougou and Bobo-Dioulasso, are accorded the benefits enumerated above for an additional
5 years.
Schedule "C" is for export companies only and provides a permanent exemption from all
burkinabe taxes. While the new Investment Code is intended to provide an initial "welcome mat"
for foreign investors, the government has shown itself well disposed to take note of potential
foreign investors’ concerns/priorities.
Consequently the government has indicated it will consider making further adjustments/revisions
to the code where deemed necessary. In this sense the code is still evolving.
The mining investment code, adopted in May 1993, regulates foreign mining operations in
Burkina Faso. The code provides special customs and fiscal privileges for mining companies
during both the exploration and production stages.
There are three different types of licenses required to operate in the mining sector depending on
both the phase and the length of operation.
- In the developmental phase, an exploration license grants an exclusive right to exploration for
the specific mineral substances requested at the time of application. It covers a maximum area
of 2500 square km and is valid for four years. This license may be renewed twice, each time
for a period of two years, provided that the license holder can prove that at least 2/3 of the
scheduled work has been completed. The license may be transferred with the authorization of
the minister responsible for mines. The possession of an exploration license allows the license
holder to obtain a mining license or a mining concession once the existence of extractable
mineral deposits is proven.
- In the production phase, a mining license grants the holder the right to establish and operate a
mine according to the precepts of the mining code. An industrial mining license is granted
when mining operations are to be carried out over a short period of time (4 years, renewable).
- For long-term investment projects, a mining concession is granted by the government and is
valid for25 years and renewable for 10 year periods.
(NEW) Est promulguée la loi n°62/95/ADP du 14 décembre 1995, portant code des
investissements au Burkina Faso, les avantages suivants sont accordés aux entreprises bénéficiant
de l’un de six régimes privilégiés prévus à l’article6 : le régime A s’applique aux investissements
d’un montant inférieur à vingt (20) millions FCFA entraînant la création d’au moins trois(3)
emplois permanents ; le régime B s’applique aux investissements d’un montant de vingt (20)
millions FCFA au minimum entraînant la création d’au moins sept (7) emplois permanents ; le
régime C s’applique aux investissements d’un montant d’au moins cinq cents (500) emplois
permanents. Ces trois régimes s’adressent aux entreprises de production, de conservation et de
transformation.
Le régime D s’applique à des entreprises de prestations de services réalisant des investissements
d’un montant d’au moins dix (10) millions FCFA, créant au minimum sept (7) emplois
permanents ; le régime E s’applique aux entreprises de prestations de services réalisant des
investissements d’un montant d’au moins cinq cents (500) millions FCFA créant au moins trente
(30) emplois permanents, et le régime des entreprises d’exportation est un régime privilégié qui
s’applique aux entreprises nouvelles tournées exclusivement vers l’exportation.
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Régime A :
Avantages liés à l’investissement :
- Exonération totale pendant le délai de réalisation des droits et taxes de douane et de toute
autre fiscalité de porte sur équipement y compris le premier lot de pièces de rechange les
accompagnants ;
- Exonération totale pendant le délai de réalisation de la fiscalité intérieure sur les équipements
fabriqués localement.
Avantages liés à l’exploitation :
- Exonération totale de l’impôt sur les bénéfices industriels et commerciaux (IBIC) et de
l’impôt minimum forfaitaire sur les Professions Industrielles et Commerciales (IMFPIC)
pendant cinq (5) ans ;
- Exonération totale de la patente pendant deux (2) ans ;
- Réduction de 50% de la patente pendant trois (3) ans après la période d’exonération totale.
Régime B :
Avantages liés à l’investissement :
- Exonération totale pendant le délai de réalisation des droits et taxes de douane sur les
équipements, y compris le premier lot de pièces de rechange les accompagnants ;
- Exonération totale de la fiscalité intérieure sur les équipements fabriqués localement
pendant le délai de réalisation.
Avantages liés à l’exploitation :
- Exonération totale cinq (5) ans de l’emploi sur les bénéfices industriels et commerciaux
(IBIC), de la patente de l’impôt sur le revenu des valeurs mobilières (IRVM), de la taxe
patronale et d’apprentissage (TPA), de la taxe des biens de mainmorte (IBM) et de l’impôt
minimum forfaitaire sur les professions industrielles et commerciales (IMFPIC) ;
- Réduction de 50% de la fiscalité ci-dessus visée pendant les trois (3) ans après la période
d’exonération totale.
Régime C :
Avantages à l’investissement :
- Exonération totale pendant le délai de réalisation des droits de douanes sur les
équipements, y compris le premier lot de pièces de rechange ;
- Exonération totale de la fiscalité intérieure sur les équipements fabriqués localement
pendant le délai de réalisation.
Avantages liés à l’exploitation :
- Exonération totale de l’impôt sur les bénéfices industriels et commerciaux (IBIC), de la
patente, de l’impôt sur le Retenu des valeurs mobilières (IRVM), de la taxe patronale et
d’apprentissage (TPA), de la taxe des biens de mainmorte (TBM) et de l’impôt minimum
forfaitaire sur les professions industrielles et commerciales (IMFPIC) pendant six (6) ans ;
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-
Réduction de 50% de la fiscalité visée ci-dessus pendant les trois ans après la période
d’exonération totale ;
Régime fiscal stabilisé pendant la durée de l’agrément.
Régime D :
Avantages liés à l’investissement :
Exonération totale pendant le délai de réalisation des droits et taxes de douane sur les
équipements, y compris le premier lot de pièces de rechange les accompagnant ;
Exonération totale de la fiscalité intérieure sur les équipements fabriqués localement
pendant le délai de réalisation.
Avantages liés à l’exploitation :
Exonération totale pendant cinq (5) ans de l’impôt sur les bénéfices industriels et commerciaux
(IBIC), de la patente, de l’impôt sur le revenu des valeurs mobilières (IRVM), de la taxe
patronale et d’apprentissage (TPA), de la taxe des biens de mainmorte (TBM) et de l’impôt sur
les professions industrielles et commerciales (IMFPIC).
Régime E :
Avantages liés à l’investissement :
Exonération totale pendant le délai de réalisation des droits et taxes de douanes sur les
équipements, y compris le premier lot de pièces de rechange les accompagnant ;
Exonération totale de la fiscalité intérieure sur les équipements fabriqués localement
pendant le délai de réalisation.
Avantages liés à l’exploitation :
Exonération totale pendant six (6) ans de l’impôt sur les bénéfices industriels et commerciaux
(IBIC) de la patente de l’impôt sur le revenu des valeurs mobilières (IRVM) de la taxe des biens
de mainmorte (TBM) et de l’impôt minimum forfaitaire sur les professions industrielles et
commerciales (IMFPIC) de la taxe patronale et d’apprentissage (TPA).
Les entreprises nouvelles tournées exclusivement vers l’exportation sont classées sous le régime
d’exportation :
Avantages liés à l’investissement :
Exonération totale des droits et taxes de douane sur les équipements, les matériels et les pièces de
rechange, à l’exception des taxes pour les services rendus ;
Exonération totale de la fiscalité intérieure sur les équipements fabriqués localement.
Avantages liés à l’exploitation :
Exonération totale pendant les sept (7) premiers exercices d’exploitation, de tous droits, impôts et
taxes liés à l’accomplissement de leur objet et dont la charge réelle leur incombe ;
Réduction permanente de 50% de leurs activités et dont la charge réelle leur incombe, après
l’expiration de la période visée à l’alinéa précédent.
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VI.
CONVERSION AND TRANSFER POLICIES
Burkina Faso is a member of the West African Monetary and Economic Union (UEMOA),
[formerly the West African Monetary Union UMOA]. The 14 members UEMOA uses a common
currency, the CFA franc, and includes the countries of Benin, Cote D'Ivoire, Mali, Niger,
Senegal, and Togo. Prior to the January 1994 devaluation, the CFA franc was freely convertible
into French francs at a rate of50 CFA to 1 FF. At the January 1994 meeting in Dakar, Senegal,
representatives from the 14-member country franc zone and France agreed to a change in parity.
The new rate is now 100CFAF to 1 FF. Historically, the CFA franc was freely convertible at the
designated parity. However, even prior to the devaluation, the convertibility of the CFA franc
outside the franc zone was suspended in order to prevent speculation and capital flight.
As previously indicated, Burkina Faso's favourable investment code guarantees foreign investors
the right to transfer abroad any funds associated with an investment, including dividends, assets,
salaries, and receipts from liquidation.
The transfers are authorized in the currency of the original investment, subject to the decree of
December 4, 1968 governing overseas capital transfers from the CFA zone.
Such transfers are made directly by Burkinabe banks once all relevant documents have been
presented to them. Transfer operations and repatriation of funds are unlimited and not subject to a
waiting period.
VII. FINANCIAL AND BANKING SYSTEM
A well established financial sector consisting of three large commercial banks:
• Banque Internationale pour le Commerce, l'Industrie, et l'Agriculture du Burkina
(BICIA-B);
• Banque Internationale du Burkina (BIB);
• Banque pour le Financement du Commerce et de l'Industrie du Burkina (BFCI-B).
Four credit institutions provide credit for investment and commercial transactions.
The banking sector had suffered from poor loans portfolios, structural adjustment mandated bank
restructuring and privatisation aims to address these problems. Financial institutions are presently
confronted with over liquidity due to demanding requirements regarding bank loans.
VIII. INVESTMENT AGREEMENTS
VIII.1 BILATERAL INVESTMENT AGREEMENTS
Burkina Faso signed a cooperation treaty with France on April 1961, providing that funds can be
transferred freely between the two countries.
A trade, investment protection and technical cooperation Agreement was signed between Burkina
Faso and Switzerland on May 1969. This Agreement provides for free transfer of corporate
earnings, interests, dividends, etc., between the two countries.
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VIII.2 MULTILATERAL INVESTMENT AGREEMENTS
Various Multilateral Investment Agreements have been signed by Burkina Faso in the framework
of International or Regional Organisations including the Lome Convention, the West African
Economic Community (WAEC) and the Council of the ENTENTE (FEGECE Convention).
These Treaties guarantee the free movement of investment capital among member States.
Burkina Faso is a member of the Multilateral Investment Guarantee Agency (MIGA).
IX. USEFUL ADDRESSES:
ORGANISATIONS
AND PUBLIC
ESTABLISHMENTS
Ministère du Commerce,
d’Industrie et d’Artisanat
ADDRESSES
TEL/TELEX/FAX/E-mail/Website
01 BP. 514 Ouagadougou Tel: (226)324711/786/99
01
Fax: (226)324828/317053/311730
E-mail : mcia@centrin.bf
Minstère de l’Economie et 01 BP. 7012 Ouagadougou Tel: (226) 324211
des Finances
01
Office National du
Avenue Léo Frobénius 01 Tel: (226)306224/311300/01
Commerce Extérieur
BP. 389 Ougadougou 01 Telex: 5258 onac bf
Fax: (226) 311469
E-mail: sekou.ba@gov.bf
Chambre de Commerce,
Avenue Nelson Mandela Tel: (226)311366
d’Industrie et d’Artisanat 01 BP. 50 Ouagadougou Telex: (978)5268 bf
du Burkina Faso
01
Fax: (226)366116
E-mail: ccia-bf@cenatrin.bf
www.ccia.bf
Banque Internationale du 01BP. 326 Ouagadougou Tel: (226) 306169
Burkina
01
Fax: (226) 307689
Direction des Douanes
BP. 506 Ouagadougou
Tel: (226)306875
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