The ISO code of Burkina Faso is BF according to the ISO 3166 standard. The local name of the country is the same as its English name. Burkina Faso capital city is Ouagadougou. People in Burkina Faso speak the French language. In the year 1960, Burkina Faso emerged as a sovereign political entity. The largest city in Burkina Faso is Ouagadougou.
Burkina Faso is located in the UTC +00:00 time zone, which is also called Western European Time or WET. The internet country code top-level domain (ccTLD) for Burkina Faso is .bf. The International dialing code for Burkina Faso is 226. People in Burkina Faso drive on the right side of the road. Total land area of Burkina Faso is 274,222 km² (approx. 105,877 mi²). Burkina Faso is a landlocked country.
Burkina Faso is located in Africa. Burkina Faso is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Burkina Faso faces various issues, including recent droughts and desertification severely affecting agricultural activities, population distribution, and the economy, overgrazing, soil degradation, deforestation.
Doing business in Burkina Faso
We offer various corporate services in Burkina Faso jurisdiction. These services can serve both, people coming from Burkina Faso and foreigners. If you plan on doing business in Burkina Faso you might be interested in contacting us.
To find out about starting your business in Burkina Faso click on company formation in Burkina Faso.
To find out how to open a bank account in Burkina Faso and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Burkina Faso.
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Demographics of Burkina Faso
The total population of Burkina Faso is 19,751,651 people. In Burkina Faso, the population density is 64 people per square kilometer (166 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is rather diverse according to a fractionalization scale which for Burkina Faso is 0.7377. Burkina Faso has approximately 696983 foreign immigrants. The median age is approximately 17 years. In Burkina Faso, 3.73 in every 100 people use internet. Burkina Faso has a Human Development Index (HDI) of 0.388.
The majority religion of Burkina Faso is Islam, Burkina Faso is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Burkina Faso.
Culture of Burkina Faso
People in Burkina Faso speak the French language. According to data on inbound tourists in Burkina Faso, 218,000 tourists arrive in the country each year. One of the most popular national dishes of Burkina Faso is to. To read more click on culture of Burkina Faso.
Geography of Burkina Faso
Burkina Faso is considered to be a large nation because of its total area. Its total land area is 274,222 km² (approx. 105,877 mi²). Burkina Faso is located in Africa. Its capital city is Ouagadougou. Burkina Faso has 6 neighbouring countries. Its neighbours include Benin, Côte d'Ivoire, Ghana, Mali, Niger, and Togo. Total length of land borders of Burkina Faso is 3611 kilometers (~1,394 miles).
The highest point of Burkina Faso is Tena Kourou, with its official height being 749 m (2,457 ft). Including land mass and EEZ, the total area of Burkina Faso is approximately 274,222 km² (~105,877 mi²). The most notable natural resources found in Burkina Faso are manganese, limestone, marble, gold, phosphates, pumice, salt.To read more click on geography of Burkina Faso.
Economy of Burkina Faso
The currency of the country is West African CFA Franc. The symbol used for this currency is Fr, and it is abbreviated as XOF. 6.3% of population in the country are unemployed. The total number of unemployed people in Burkina Faso is 1,244,354. Each year, Burkina Faso exports around $2.84 billion and imports roughly $2.94 billion. The Gini Index of the country is 39.5. Burkina Faso has a Human Development Index (HDI) of 0.388.The Global Peace Index (GPI) for Burkina Faso is 1.994. Burkina Faso has a government debt of 126.1% of the country's Gross Domestic Product (GDP), as assessed in 2012. Burkina Faso is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are cotton lint, beverages, agricultural processing, soap, cigarettes, textiles, gold.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Burkina Faso is $29,417 billion. Each year, consumers spend around $57,644 million. The ratio of consumer spending to GDP in Burkina Faso is 0%, and the ratio of consumer spending to the world consumer market is 0.1662. The corporate tax in Burkina Faso is set at 27.5%. Personal income tax ranges from 2% to 30%, depending on your specific situation and income level. VAT in Burkina Faso is 18%. In 2013, Burkina Faso received 1158.5 million USD in foreign aid.In 2014, the foreign aid amounted to 995.1 USD.To read more click on economy of Burkina Faso.
Infrastructure of Burkina Faso
Infrastructure quality in Burkina Faso is rated to be at 2.35. It indicates a mediocre quality - roads, railroad, ports and other facilities are able to handle somewhat significant traffic, but not enough to ensure smooth transit at all times.
In Burkina Faso, 13.1% of the population has access to electricity. There are 1,795 internet hosts in Burkina Faso. Burkina Faso has 23 airports nationwide.
The logistics performance index of Burkina Faso is 2.64. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.
Tracking possibilities for shipments are rated at 2.49. It indicates a mediocre performance - the tracking systems provide some degree of information which usually includes the most necessary topics, such as the current location of a shipment, the dates of arrival and departure and the status of a shipment; still, more detailed information about the status and multi-language accessibility options are usually lacking.
The number of road motor vehicles per 1000 inhabitants in Burkina Faso is 6. To read more click on infrastructure of Burkina Faso.
Politics of Burkina Faso
Burkina Faso, is a provisional republic. With regard to political and civil freedoms, Burkina Faso is 2. Citizens in Burkina Faso experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Burkina Faso, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Roch Marc Christian Kaboré.
According to the World Bank Group, the government effectiveness index of Burkina Faso is -0.56. This indicates that the government of Burkina Faso is ineffective. Public and civil services are severely handicapped, leading to potential for social and political upheaval.In Burkina Faso, the legislative power is vested in a National Assembly. The Global Peace Index (GPI) for Burkina Faso is 1.994. The strength of legal rights index for Burkina Faso is 6. Overall, it is considered to be rather adequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available. In 2013, Burkina Faso received 1158.5 million USD in foreign aid. In 2014, the foreign aid amounted to 995.1 USD. Burkina Faso is a member of the United Nations (UN). On 20 September 1960, it joined the UN as a full member state. Burkina Faso is a member of the African Union (AU). On 25 May 1963, it joined the AU as a full member state. Burkina Faso is a member of the World Bank. To read more click on politics of Burkina Faso.
Environment of Burkina Faso
Burkina Faso emits 0.1 metric tons per capita of CO2. 67940 km² of Burkina Faso's territory is covered in forests. and forest land comprises 25% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Burkina Faso is 6. To read more click on environment of Burkina Faso.
Company formation in Burkina Faso
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Burkina Faso.
When establishing a company in Burkina Faso, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Burkina Faso that will affect the establishment and growth of one's business. Contact us or click on company formation in Burkina Faso to read additional information when setting up a business.
Bank account opening in Burkina Faso
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Burkina Faso. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Burkina Faso, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Burkina Faso or contact us.