On September 27, 2026, Burkina Faso President Captain Ibrahim Traoré shared his country's economic strategy with the press. He emphasized the importance of local production, fighting fraud, and regaining control of strategic sectors. The President highlighted that certain goods smuggled into the country may fund armed groups. He stressed that fraud is a threat to both the economy and national security.
President Traoré announced plans to tackle speculation and rising prices by potentially having the state take over the importation of certain products. This move aims to control prices through FasoYaar. He mentioned that some products may be exclusively imported by the state, with prices set by FasoYaar. The President also cited the need to revive sectors considered strategic, such as the SOSUCO and SOFITEX enterprises.
The President encouraged the Burkinabè private sector to shift from an import-focused model to one that prioritizes local transformation and production. He pointed to the textile industry, specifically the launch of Tex Force, and initiatives to transform maize into couscous. This approach seeks to boost local production and reduce reliance on imports.
President Traoré discussed the financing of the local economy, highlighting the Agence pour la promotion de l'entrepreneuriat communautaire (APEC). APEC's model relies on mobilizing citizens' savings to fund productive projects. The President encouraged citizens to pool their resources to benefit their communities.
The President also emphasized the importance of directly managing certain large infrastructure projects. He cited the Ouagadougou-Bobo-Dioulasso highway as an example, which will prioritize Burkinabè expertise, resources, and equipment. This approach aims to strengthen national capacities while minimizing reliance on external contractors.
In the agricultural sector, President Traoré discussed the anticipated results of the Offensive agropastorale. This initiative combines mechanization, access to inputs, and hydro-agricultural developments. A new operation, described as an "operation commando," aims to increase irrigated areas around major dams, such as Samandéni and Bagré.
The President's strategy seeks to promote economic growth, food sovereignty, and national security. By regaining control of strategic sectors and boosting local production, the government aims to reduce reliance on imports and strengthen the economy. The implementation of these plans will be crucial in determining their success.
Key points
- President Ibrahim Traoré outlines plans to increase state control over strategic sectors and boost local production.
- The government aims to combat fraud and speculation by potentially taking over the importation of certain products.
- The President encourages citizens to participate in the economy through the Agence pour la promotion de l'entrepreneuriat communautaire (APEC).
