Connect with us

Africa

The Ministry of Economy reinforces its collaboration with the Burkina Faso Enterprise House

The government authorities of Burkina Faso met on February 17th to set goals for better support of the private sector and to promote entrepreneurship in Burkina Faso. The Minister of Economy together with the Chairman of the Board of Directors and other representatives focused on strengthening the partnership between the Burkina Faso Enterprise House (MEBF) and the Ministry of Economy.

Sharon Harris

Published

on

This picture show the sign PRIVATE on top of a wall.

The Chairman of the Board of Directors of the Burkina Faso Enterprise House (MEBF), Henriette Kaboré, had a working session with the Minister of Economy, Finance and Development, Lassané Kaboré, on Monday, February 17th, 2020. The audience focused on the prospects that will enable the Maison de l’entreprise to fully play its role in fostering the development of a competitive private sector in Burkina Faso.

Read all about the latest breaking business headlines, daily news, and hot news in Africa. African business, African health, and technology with the Born2Invest mobile app.

The partnership goals between Burkina Faso Enterprise House (MEBF)

As part of her advocacy for better support for the private sector and the promotion of entrepreneurship in Burkina Faso, the Chairman of the Board of Directors of the Burkina Faso Enterprise House, Henriette Kaboré, and her delegation met with Minister Lassané Kaboré. The discussions focused on strengthening the partnership between the Burkina Faso Enterprise House (MEBF) and the Ministry of Economy, for the facilitation of the business climate and the preparation and implementation of projects for the private sector.

According to the Minister of Economy, the MEBF plays a major role in enabling the country to improve its rating in the Doing business report. He admits that the exchanges, which focused on the prospects that will enable the Burkina Faso Enterprise House to play its role fully, were very fruitful. The role of the Ministry of the Economy is not only to collect resources but also to ensure that the economy can prosper.

A partnership between the government, the private sector, and Technical and Financial Partners

MEBF was created as a partnership between the government, the private sector and Technical and Financial Partners (TFPs), according to Lancina Ki, MEBF’s Managing Director. That said, the government has entrusted MEBF with all that is formalization and creation of enterprises, formalization of acts of construction, and even the implementation of WAEMU projects and programs.

SEE ALSO  Precious Metals Investing: Small-cap gold producer Inca One Gold launches the first comprehensive database of Artisanal Gold Mining operations in Peru: XplorTracker

The point was made to the Minister of Economy who noted a lot of progress and spoke on the topic. “We then asked the minister to ensure that this house could play its role effectively. In particular, the accompaniment to further simplify the administrative formalities to allow MEBF to deliver the acts within the agreed deadlines,” Lancina Ki confided. The MEBF instructs but it is not the MEBF that signs, he said. The minister made a commitment to see, with his colleagues, so that the blockades can be lifted.

The second point of complaint concerned projects aimed at private sector development. The Burkina Faso Enterprise House stressed that there are projects that are implemented with private sector development components, whereas these components are not entrusted to MEBF. The Minister was asked to see to what extent these components can be devolved to MEBF, which was created for this purpose.

Lancina Ki notes that here too, the Minister has made a commitment to see with his colleagues that whenever there is a project that concerns private sector development, it will be entrusted to MEBF. Other points such as the security of documents produced by public administrations were also discussed, and the Burkina Faso Enterprise House noted that the Minister was receptive to all the grievances raised and instructed his technical services to follow up on all these aspects.

In 2019, approximately 13,000 businesses were created in Burkina Faso. This has been possible thanks to certain innovations such as the reduction of the time required to set up a business to a maximum of 48 hours. According to Lancina Ki, this period will be further reduced because start-ups will be made online, starting in the first quarter of 2020.

SEE ALSO  Is the Bitcoin crash over yet?

__

(Featured image by Dayne Topkin via Unsplash)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

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.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Sharon Harris is a feminist and a part-time nomad. She reports about businesses primarily involved in tech, CBD, and crypto. She started her career as a product manager at a Silicon Valley startup but now enjoys a new life as a personal finance geek and writer. Her primary aim is to provide readers with a new perspective on the overlapping world of finance and technology.