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.