Burkina Faso: President Ibrahim Traoré calls for the promotion of SMEs and the transformation of larger companies into multinationals

President of Burkina Faso, Captain Ibrahim Traoré, has reaffirmed his commitment to driving the country’s economic development by focusing on the growth and strengthening of local businesses.

During a meeting on September 5, 2024, with a delegation from the Burkinabe employers’ association, along with representatives of regional business communities and Burkinabe entrepreneurs from the diaspora in Côte d’Ivoire and the United States, the President outlined his ambitious vision for the private sector.

In this meeting, Ibrahim Traoré encouraged Burkinabe business leaders to intensify their support for small and medium-sized enterprises (SMEs), which he views as key drivers of national economic growth.

He also emphasized the importance of helping large companies transform into multinational corporations to elevate Burkina Faso’s international competitiveness.

The President urged the business community to play a more active role in guiding local entrepreneurs, underlining his intention to position the private sector as a central force in the country’s economic development.

He called for a collective effort to ensure that local companies not only thrive domestically but also expand beyond national borders, becoming global representatives of Burkina Faso’s economic dynamism.

This initiative is part of a broader strategy to diversify Burkina Faso’s economy by creating a conducive environment for the growth of local businesses.

President Traoré also highlighted the need to strengthen cooperation with the diaspora, recognizing the importance of regional and international economic integration in securing the country’s prosperity.

Through this ambitious move, Captain Ibrahim Traoré signals a critical step in supporting Burkinabe businesses, paving the way for sustainable growth and positioning local companies as significant players on the global economic stage.

See also: Burkina Faso: Prioritising national production, a salutary initiative by the government of Faso

Cédric KABORE