A landlocked country in Africa that borders Benin, Cote d’Ivoire, Ghana, Mali, Niger, and Togo, Burkina Faso paves the way to business investment opportunities, and numerous multinationals are capitalising on the chance to expand there.
Expanding into a new country can be challenging if your organisation is not familiar with the cultural norms, legal requirements, and market insights, especially if your organisation does not have an office in Burkina Faso yet. Most international organisations who enter new countries for the first time engage the services of experienced and trusted partners for the purposes of outsourcing business processes, including HR outsourcing solutions where there is a requirement to employ and payroll resources in-country.
In addition to enabling fast-market entry, coupled with the relevant legal, compliance, and employment outsourcing procedures being delivered by our in-country specialists, Africa HR Solutions provides the Burkina Faso HR outsourcing support required to facilitate, and add value to, your expansion into Burkina Faso.
We provide end-to-end HR outsourcing support tailored according to our client’s requirements, which encompass services such as Professional Employer Organisation (PEO), Employer of Record, payroll solutions, and a spectrum of ancillary support services to help you grow your footprint in the country.
Country Profile - Burkina Faso
Population: 21.3 million
Gross Domestic Product (GDP): $15.75 bn
GDP Growth: 6.5 %
Inflation : 1.9 %
Foreign Direct Investment (% of GDP): 3.3 %
Unemployment Rate: 6.1 %
Currency: West African CFA franc
Burkina Faso's Economy
Encompassing a mixed economic system, Burkina Faso is heavily dependent on the agricultural industry, with more than 25% of the population employed in the sector. The major cash crop remains cotton and gold is the most fundamental export. The country is Africa’s fifth gold-producing country, ranked after South Africa, Tanzania, Ghana, and Mali. For the past few years, Burkina Faso has placed much emphasis on the transformation of the economic system as well as the welfare benefits of its people. While the strong growth of the economy relates to the industrial sector, the primary and secondary sectors are considered to be the major drivers of the country’s growth ambitions.
Interesing Facts About Burkina Faso
The largest ethnic group is the Mossi.
The school week runs from Monday through Saturday.
The country is well known for its art and culture and also hosts the biggest craft market in Africa.
There is a young population with over 65% of the population under the age of 25.
Most food is accompanied by a sauce. Sorghum, millet, rice, maize, peanuts, potatoes, bean, yams, and okra are considered staple foods.
Public Holidays in Burkina Faso
New Year’s Day
International Women’s Day
International Labour Day
Commemoration of Independence
Employment in Bukina Faso
Burkina Faso is considered a low-income Sahelian country with finite natural resources. Agriculture remains the largest driver of the economy, where 80% of the workforce is involved. Gold and cotton dominate the export sector of the country. As Burkina Faso aims at minimizing the poverty gap, the country is looking at a multisectoral approach for a thorough understanding of the factors that could result in improved, more productive, and sustainable job opportunities in the tradeable sector. The population is expected to increase from 18 million in 2015 to 43 million by 2050. Hence the country needs to create more than 300,000 jobs every year to accommodate the rising workforce.
Employees in Burkina Faso are entitled to vacation, sick and parental leave. From a termination perspective, employees are generally entitled to the following notice periods:
Hourly workers: 8 days
Regular workers: 1 month
Executives, supervisors, technicians, etc.: 3 months
In terms of social security taxation, employees are taxed 5.5% of their wages and 16% is contributed by employers. Employers are also required to pay payroll tax at 3%.
Whether recruiting locals or hiring expatriates in Burkina Faso, corporate benefits are usually scrutinized by prospective candidates as part of the employment package being offered. Working alongside a specialised partner such as Africa HR Solutions will allow you to define an appropriate and competitive benefits scheme, whilst taking into consideration the country’s regulations and market norms.
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