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New investments in the pipeline in Kaya through the PADEL program

The Minister of Economy, Finance and Development, Lassané Kaboré, launched the inclusive finance of Component 4 of the Support Program for the Development of Local Economies (PADEL) in Kaya. This was at the end of a field visit to the infrastructure built in Sanmatenga under the said program. More than $75,425 (CFAF 42 million) will be granted as a loan to the commune of Kaya.

Isaac Atwood

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$808 (450,000 FCFA) is the loan granted by the Support Program for the Development of Local Economies to the Watinooma Cooperative. The sum received, on Tuesday, July 28th, 2020, via Orange money, by the general secretary of the cooperative, will have to be repaid in eight months at an interest rate of 10%, which is $889 (495,000 FCFA). This financial windfall, Amamata Ouédraogo and other members of the cooperative intend to use it wisely to develop their activities. To this end, they have received training in financial education from the Support Fund for Women’s Income Generating Activities (FAARF).

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More than $3.6 million (2 billion FCFA) for seven regions

A total of 174 promoters in the North-Central region will benefit from the inclusive funding of component 4 of the PADEL managed by FAARF. More than $75,425 (CFAF 42 million) will be granted as a loan to the commune of Kaya out of the $779,395 (CFAF 434 million) released for the region. According to the Director General of FARF, Dr. Dorcas Tiendrebéogo, more than $4.98 million (2.75 billion francs) will be granted in a matter of days to 10,000 people in the Sahel, North, East, Center-East, Center-South, Boucle du Mouhoun and Center-North regions. “$138,280 (77 million CFA francs) have already been granted to 617 promoters in the communes of Dori and Falangoutou. In addition, as of December 31st, 2019, we were at a recovery rate of 90% for Dori and 97% for Falangoutou,” the FAARF DG suggested.

This financing agreement handover ceremony was held at the new modern bus station in Kaya built under PADEL. The infrastructure includes a building for transporters, an office, an eight-station public latrine and many other amenities including a ramp for people with reduced mobility. The visit of this modern station was preceded by the visit of other infrastructures early in the morning in the communes of Korsimoro and Boussouma.

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Shops and stores in Korsimoro and Boussouma

In Korsimoro, 50 street shops have been built and are waiting to be occupied. According to the mayor, Jacques Ouédraogo, the shops are built on the new site of the commune’s market, which covers five hectares. According to him, the old market has become cramped, and the new site was chosen by mutual agreement between the town council and the customary, religious and shopkeepers.

In the commune of Boussouma, PADEL has built 30 shops and a storage warehouse with a capacity of 500 tons with the support of the West African Development Bank (BOAD). According to the mayor, Karim Ouédraogo, this store will be used to store food and materials for the benefit of IDPs. As for the shops, they will reinforce the commune’s modern market project, which is a decade-old project. And the proximity of the site of the modern market with the national road 3 will allow greater visibility of the market. In addition to the shops and the warehouse, two vaccination parks are planned in the commune of Boussouma.

Results despite the insecurity

575 infrastructure projects are planned by PADEL in the North-Central region. After its launch in September 2019 in Kaya, the program showed an average physical execution rate of 58.87%. Despite these results, insecurity still prevails. Four communes (Namissiguia, Pensa, Dablo, and Bourzanga) have not yet seen the start of work and in Barsalgho and Bouroum, work has been put on standby because of the terrorist threat. However, Minister Lassané Kaboré wanted to reassure himself “We are gradually normalizing the situation and this will enable us to speed up the implementation of its projects.”

As a reminder, the Support Program for the Development of Local Economies is implemented in the thirteen regions of Burkina Faso. It covers the period 2016-2020 and aims to create dynamic, competitive and resilient local economies and improve the living conditions of the populations. Its overall cost is estimated at $7.2 million (4 billion CFA francs). It is financed by the State (40%), local authorities (5%) and technical and financial partners (55%). In the Center-North region, investments concern the 28 communes and are estimated at more than $5.4 million (3 billion CFA francs).

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First published in lefaso.net, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Isaac Atwood is a PR and marketing consultant who has worked with respected names in the financial industry. He has also sat down in many sessions with startups aiming to become the next unicorn. Isaac loves working with CEOs, business executives, and entrepreneurs who wish to enter the following markets: artificial intelligence, cannabis, virtual reality, cryptocurrencies, robotics, wearable and smart tech, and even the much-hyped space race. He is currently managing the brand portfolio of an Asian firm planning for its IPO by the end of the year. While his engagements have taken him around the world, Isaac is proud to call Toronto his home.