BURKINA FASO
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About Burkina Faso
Page Last Updated: 28/05/2024
Located in the heart of West Africa, Burkina Faso is a land of vibrant culture and untapped opportunities. At Africa HR Solutions, we specialise in helping businesses expand into Burkina Faso’s dynamic market. With our tailored solutions and local expertise, we empower companies to navigate the terrain confidently, ensuring success in this diverse and evolving landscape. From onboarding your employees in Burkina Faso to getting them paid on time, we’ve got you covered.
Gross Domestic Product (GDP): $21.9 B
GDP Growth: 5.5%
Inflation: 2.1%
Foreign Direct Investment (% of GDP): 0.6%
Unemployment Rate: 5.07%
Capital: Ouagadougou
Currency: West African CFA franc (XOF)
Languages: French, Moore, Bissa
Burkina Faso Payroll at a Glance
Currency
West African CFA Franc (XOF)
Income Tax
0% – 25%
Employer Taxes
16%
Employee Contribution
5.5%
Fiscal Year
1 January – 31 December
Date Format
dd/mm/yyyy
- Burkina Faso gained its independence from France in 1960.
- The country’s economy is primarily based on agriculture, mining and trade.
- Burkina Faso is home to several national parks and reserves, including Arly National Park and W National Park, which are UNESCO World Heritage Sites.
- The Tô Tô is the national dish of Burkina Faso. Tô is a paste made from millet, maize or sorghum flour and served with a vegetable, meat or chicken sauce.
- New Year’s Day
- International Women’s Day
- Easter Monday
- International Labour Day
- Ascension Day
- Eid-Al Fitr
- Independence Day
- Assumption Day
- Aid-El Kebir
- Columbus Day
- Commemoration of Independence
- Mouloud
- Christmas Day
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.
Public Holidays in Burkina Faso
- New Year’s Day
- International Women’s Day
- Easter Monday
- International Labour Day
- Ascension Day
- Eid-Al Fitr
- Independence Day
- Assumption Day
- Aid-El Kebir
- Columbus Day
- Commemoration of Independence
- Mouloud
- Christmas Day
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