Burkina Faso held the 4th edition of the West African Business Development Forum (AFRICALLIA) in an attempt to entice foreign investors. The event was organized to enable entrepreneurs to explore business opportunities and gain business contacts in the West African region. The major objective was to try to build 4000 business partnerships.
Harouna Zoundi and his associates manage agricultural business worth nearly 170 million FCFA in Burkina Faso, during the conference, they were able to find a partner who will help them diversify their business, “I am satisfied with it, in fact very satisfied. We met with partners who are in the same domain as us. Today we have just met a partner who is in support of SMES and SMIS. We presented our idea and the partner was happy to have met us. And he promised to have a contract with us from the discussion we had. So our project is sorted”
The forum was launched in 2010, and the year 2016 edition is expected to enhance Burkina Faso’s economy in the post transition era. The country had initialized a $7 billion program to boost its economy. Two years after, the results are still below expectations.
“When a company like Sosuco cannot sell its sugar, while God only knows that all days, we consume sugar. And when doing the estimate of needs, it is said that it produces a lot, and that is half of our needs. Yet it is only a third of the needs of the market. The remaining two thirds is for commercial activities. If the third party there cannot sell, it means that there is a problem”.
Despite the security threats, 450 participants and 374 companies from 23 countries took part in the 2016 AFRICALLIA Forum.