The new Agricultural Bank of Burkina Faso (Faso BADF) has obtained its approval from the UEMOA Banking Commission.
The institution with a capital of 14.27 billion FCFA has a tour de table rather broke with 13 organizations of the peasant world, 3 State companies, 8 private companies and 70 natural persons.
Fifteenth bank in Burkina Faso, the BADF’s main missions are to mobilize popular savings in rural areas, to finance inputs in quantity and quality, as well as agro-business.
Agriculture, which accounts for 35% of the country’s Gross Domestic Product (GDP) and employs 82% of the labor force, receives barely 5% of bank financing.
Agricultural production is dominated by cereals (sorghum, millet, maize and rice), the main food crops, cotton, the main cash crop, and livestock. It is clear, the BADF will meet shortly in the board of directors to appoint his DG a field.