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Get to Know About Burkina Faso
Burkina Faso is a country in West Africa landlocked by Mali, Niger, Benin, Togo, Ghana, and the Ivory Coast. The capital is Ouagadougou. The old name of Burkina Faso was Upper Volta until their President during that time Thomas Sankara changed it on August 4, 1984. The name Burkina means Free Man in Mooré language while Faso means Land in Dyula language. Citizens of Burkina Faso call themselves Burkinabè. Bè in Burkinabè means a person in Fulfulde language. The official language in Burkina Faso is French, but it also has a lot of African Languages that are in use like those mentioned previously. Doing Business in Burkina Faso is excellent, especially in the sector of mining.
Burkina Faso attracts foreign investors by offering tax and legal incentives. You can have 100% ownership at a local level. For businesses that are national in scope, however, there are some restrictions, particularly mining, telecommunications, financial services, and electricity.
The number one problem of Burkina Faso is its access to the sea and agricultural resources. The transportation of essential commodities is affected by that. The construction of Bagre Dam alleviated some problems, but this is still not enough. Also, a challenge to Burkina Faso is its poor business climate, which is lacking standards for the international community. Economic leaders in the country need to address these if they want the country to put in the top list.