The Agricultural Bank of Burkina Faso (BADF) officially launched its activities on Friday, March 29, 2019, in the presence of the Burkinabe Head of State, Roch Marc Christian Kaboré.
The new financial institution, with a capital of just over 14 billion CFA francs ($ 24 million), will focus on financing the rural sector while remaining open to other sectors of the national economy.
Already, the bank has been awarded more than 6.3 billion CFA francs ($ 10.7 million) by the African Development Bank (AfDB).
“The BADF must be an important instrument to enable farmers and breeders to access funding to not only equip themselves, but also develop their activities. I hope that this bank developing in all provinces will create the confidence that will allow the rural world to know that it is their instrument, “said President Kaboré.
The chairman of the Board of Directors of the BADF, Mamadou Sérémé, for his part said that the bank’s primary purpose is to be the bank financing agriculture in Burkina but, “it is also positioned to ensure its profitability and its durability as a modern universal bank serving all Burkinabe rural and urban.
“The BADF has a head office already operational in Ouagadougou since February 25, 2019. It is expected the opening of two other agencies in Bobo-Dioulasso respectively in May and Dédougou in September of the current year”, Mamadou Sérémé notes.
The BADF is majority-owned by the Burkinabè State, the rest goes to professional organizations in the rural world, private companies in Burkina and local individuals.
