Afreximbank President Launches New Edition of Structured Trade Finance Book at 32nd Annual Meetings

Source: APO

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) launched the second edition of Foundations and Evolution of Structured Trade Finance, a landmark publication on a specialised field of trade finance shaped by decades of real-world application.

Authored by Professor Benedict O. Oramah, President and Chairman of the Board of Directors of Afreximbank and a pivotal figure in the development of Structured Trade Finance (STF), the book provides a practical, step-by-step guide to structuring trade finance transactions. It delves into real-world case studies, explores risks and the theoretical foundations of STF, and broadens its scope beyond commodities to address a wide range of trade scenarios.

The updated edition introduces dedicated chapters on reserve-based lending, supply chain finance, and the use of emerging technologies in structured trade finance. These additions make the book particularly relevant in today’s complex and increasingly risk-sensitive global regulatory environment.

Speaking at the book launch and signing event held during the 32nd Afreximbank Annual Meetings in Abuja, Nigeria, Professor Oramah reflected on the significant progress made in trade finance since the early 1990s.

“When I joined Afreximbank in 1994 the world was still grappling with a severe sovereign debt crisis, and structured trade finance was just beginning to emerge as a tool for financing trade in challenging markets.

“As Afreximbank began operations in 1994, we embraced structured trade finance for its ability to mitigate risk. At its core, structured trade finance enables practitioners to be innovative, as its fundamental principle allows for the transfer of risks from parties who are less able to bear them to those who are more capable of absorbing shocks,” said Professor Oramah.

The first edition of the book highlighted trade finance structures that largely supported North-South trade—an approach that contributed to trade diversion, with businesses often favouring extra-African over intra-African trade due to more accessible financing.

Today, global trade dynamics have shifted dramatically. South-South trade now dominates, with Africa’s trade with other developing countries rising from approximately 23% of its total trade in 1995 to an estimated 68% in 2024. Over the same period, Africa’s trade with advanced economies has declined to less than 50%.

Structured Trade Finance has played a transformative role in reversing Africa’s trend of de-industrialisation. By extending beyond commodity-based structures, STF has supported the emergence of African manufacturing hubs, fostered regional and domestic value chains, and enabled the growth of small and medium-sized enterprises. Afreximbank continues to build the continent’s economic future on this foundation of innovation and resilience.

The second edition of Foundations and Evolution of Structured Trade Finance is now available via Globe Law and Business (www.GlobeLawAndBusiness.com), Amazon, and major retailers including Blackwell’s, Waterstones, Wildy’s, Baker & Taylor, and Gardners.

Distributed by APO Group on behalf of Afreximbank.

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Email: press@afreximbank.com

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About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.

For more information, visit: www.Afreximbank.com

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Eritrea: Construction of Dams in Mai-Mne Sub-zone

Source: APO


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Three dams have been constructed in Mai-Mne sub-zone, Southern Region, at a cost of over 20 million Nakfa. The construction was carried out through a joint effort by the Southern Region administration and members of the Defense Forces.

The dams, with capacities of 250,000, 85,000, and 75,000 cubic meters respectively, are expected to make a significant contribution to the provision of water for both the population and livestock in the areas.

Engineer Gebreselasie Semere, coordinator of the project, stated that the primary goal of the dam construction is to ensure a sustainable supply of potable water for the Mai-Mne semi-urban center. The dams will also support the development of irrigation-based farming.

Lt. Col. Abraham Haile, administrator of the sub-zone, highlighted the role of the dams in ensuring access to clean water and advancing development programs. He also praised the contributions of Government institutions and the public in completing the construction.

Mai-Mne sub-zone, which includes 76 villages, is located 90 kilometers south of Mendefera city.

Distributed by APO Group on behalf of Ministry of Information, Eritrea.

Call for Strengthening Organization

Source: APO


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At an activity assessment meeting held on 7 and 8 July, the National Union of Eritrean Women branch in the Southern Region called for enhanced organizational capacity, particularly among young women.

According to the report presented at the meeting, 65% of the programs planned for 2025 have been completed. In addition, 118 women have been elected as area administrators and managing directors, and 850 women as village coordinators. Encouraging awareness-raising activities were also conducted in collaboration with partners to eradicate underage marriages and other harmful practices.

Participants held extensive discussions based on the reports presented by the heads of 12 sub-zones in the region, focusing on achievements recorded and challenges faced.

Ms. Senait Afwerki, head of the union branch in the Southern Region, provided a briefing on the activities implemented during the first half of the year and called for reinforced participation to achieve better outcomes.

Ms. Amete Neguse, Secretary of the PFDJ in the region, commended the successful implementation of various activities over the past six months and urged for strengthened efforts in executing the programs scheduled for the second half of the year.

Distributed by APO Group on behalf of Ministry of Information, Eritrea.

Le Président de la République reçu à la Maison Blanche pour un dîner de travail stratégique


Dans le cadre d’un dîner de travail de haut niveau, Son Excellence Brice Clotaire OLIGUI NGUEMA, Président de la République, Chef de l’État, Chef du Gouvernement, a été reçu ce jour à la Maison Blanche par son homologue américain, Son Excellence Donald TRUMP.

Cette rencontre multilatérale s’inscrit dans une dynamique de coopération renforcée entre les États-Unis et le Gabon, portée par une volonté commune de bâtir un partenariat stratégique, équilibré et tourné vers l’avenir.

À cette occasion, le Président de la République a exprimé sa reconnaissance pour l’accueil chaleureux réservé à sa délégation, saluant la qualité historique des relations bilatérales fondées sur le respect mutuel, la stabilité et les intérêts partagés.

Devant les dirigeants présents, le Chef de l’État a présenté les réformes structurelles majeures engagées depuis le coup de la Libération du 30 août 2023, qui ont permis d’instaurer un climat apaisé, une gouvernance plus transparente et une relance économique crédible. Il a principalement insisté sur l’ancrage du Gabon dans une culture de passation de marchés par appel d’offres, en rupture avec les pratiques opaques du passé.

Plusieurs projets structurants ont été mis en avant, symboles du nouveau cap économique du pays, notamment :
• La signature avec Millenial Potash pour l’exploitation de la potasse de Mayumba, avec un démarrage de la production prévu dès 2027 ;
• Des discussions avancées avec EXXON Mobil pour le développement de nouveaux blocs pétroliers offshore ;
• Des négociations avec RAPISCAN pour la construction du port en eau profonde de Mayumba et avec BOEING pour l’acquisition de trois avions gros porteurs d’ici 2029 ;
• Le projet ambitieux de ligne de chemin de fer Belinga-Boué-Mayumba de 901 km pour le transport du minerai de fer ;
• La construction du barrage hydroélectrique de Boué ainsi que plusieurs projets routiers d’envergure.

Dans le même esprit, le Gabon a exprimé son souhait d’ouvrir des discussions avec US-DFC et EXIMBANK pour l’obtention d’un financement préférentiel compris entre 2 et 3 milliards de dollars, destiné à soutenir ces grands projets.

Le Président de la République a également rappelé la décision stratégique, prise le 4 juin 2025, de mettre fin à l’exportation brute des matières premières. Le Gabon s’oriente désormais vers la transformation locale de ses ressources – manganèse (12 millions de tonnes par an), fer, lithium, cobalt, or, afin de créer de l’emploi, augmenter la valeur ajoutée et répondre à une demande énergétique nationale estimée à 9 GW.

Sur le plan de la souveraineté, le Chef de l’État a réaffirmé l’engagement du Gabon dans la lutte contre l’immigration illégale, ainsi que dans le renforcement des conditions d’attribution de la nationalité gabonaise, pour préserver la fiabilité et la crédibilité du passeport gabonais sur la scène internationale.

En conclusion, Son Excellence Brice Clotaire OLIGUI NGUEMA a salué l’implication personnelle du Président Donald TRUMP dans les processus de paix régionaux, notamment en RDC, au Rwanda, au Soudan et dans la zone sahélienne.

À travers cette rencontre de haut niveau, le Gabon confirme sa place de partenaire stratégique fiable pour les États-Unis, et affirme son ambition de contribuer activement à l’émergence d’une Afrique nouvelle : souveraine, stable et prospère.

Distribué par APO Group pour Présidence de la République Gabonaise.

Développement culturel : L’Agence de Développement des Arts et de la Culture (ADAC), la Fondation Marcel HICTER et Wallonie Bruxelles International (WBI) unis pour une gouvernance culturelle au Bénin


L’Agence de Développement des Arts et de la Culture (ADAC) a officiellement lancé ce lundi 7 juillet 2025, à son siège, la formation en gouvernance culturelle (Politique culturelle et régulation du secteur des ICCs). Cette initiative majeure vise à renforcer les capacités des acteurs culturels issus des administrations publiques et de la société civile, contribuant ainsi à un développement optimal de l’économie culturelle nationale. 

La cérémonie d’ouverture a été présidée par Monsieur William CODJO, Directeur Général de l’Agence de Développement des Arts et de la Culture. Dans son allocution, Le Directeur Général a souligné l’importance de cette formation, s’inscrivant dans le cadre de la coopération entre le Bénin et la Belgique. Il a rappelé que ce programme découle d’un appel à projets de coopération lancé en 2023 par Wallonie Bruxelles International (WBI), et visant à soutenir des projets d’envergure pour améliorer l’écosystème des Industries Culturelles et Créatives (ICC) et à mettre en place une politique durable pour soutenir l’économie culturelle au Bénin. « Nous n’allons pas investir uniquement dans les infrastructures, nous allons aussi investir dans la ressource humaine. Il faut des Experts pour faire fonctionner tout ce qui se met en place dans le pays », a-t-il déclaré, insistant sur l’importance du capital humain dans le développement du secteur. 

C’est à l’issue d’un processus de sélection rigoureux, que dix-huit (18) participants sur l’ensemble du territoire béninois et issus des différentes composantes du secteur ont été retenus pour prendre part à cette formation intensive. Durant cinq jours (du 7 au 11 juillet 2025), les participants bénéficieront de l’expertise de professionnels renommés venus de Belgique, d’Espagne, du Burkina-Faso, du Togo et du Mali. Des échanges intenses et des séances pratiques permettront aux participants d’approfondir leur compréhension de la gouvernance culturelle, des politiques publiques, et d’acquérir les compétences nécessaires pour initier des projets de coopération à l’échelle territoriale, locale voire internationale. 

Monsieur Frédéric JACQUEMIN, Directeur de la Fondation Marcel HICTER et partenaire clé de cette initiative, a partagé son enthousiasme face à la tenue de cette formation et à la mobilisation des participants. Il a souligné que leur engagement est crucial pour les défis majeurs de la gouvernance et des politiques culturelles. Pour lui, l’activation de l’économie créative ne peut être durable sans des politiques publiques solides et à long terme, insistant sur le rôle essentiel des participants en tant qu’acteurs de terrain pour assurer la pérennité de ces actions. 

En renforçant les compétences des acteurs à travers ce genre d’initiative, l’ADAC œuvre concrètement à l’atteinte des objectifs stratégiques définis par le Gouvernement béninois pour une meilleure structuration des industries culturelles et créatives béninoises.

Distribué par APO Group pour Gouvernement de la République du Bénin.

Rollout of military veterans’ pension to resume once review process completed

Source: Government of South Africa

Rollout of military veterans’ pension to resume once review process completed

The Department of Military Veterans (DMV) has announced that the rollout of the military veterans’ pension will continue once a review process is completed. 

This decision comes after approximately 300 military veterans expressed concerns about delays in receiving their pensions.

“We acknowledge the hardship faced by military veterans and recognise their frustration. This benefit is a vital intervention aimed at restoring dignity and improving the quality of life of those who served this country with honour,” the statement read.

However, the department emphasised the need to clarify that the delays were caused by the budgetary constraints that currently affect it.

“It has become evident that the regulations governing the disbursement of the military veterans’ pension need to be reviewed. Once this process is complete, the department will resume the rollout of the military veterans’ pension, ensuring that deserving military veterans receive the financial assistance they are entitled to.” 

Since the implementation of this benefit in November 2023, the department said over 4 378 military veterans have successfully received their military veterans’ pensions. 

The department said it continues to work closely with the Government Pensions Administration Agency (GPAA) to process and pay new beneficiaries as they are verified.

“In the future, we appeal to military veterans to engage directly with the GPAA to check on the status of their applications and to raise any challenges so that they can be addressed timeously. We remain committed to upholding the dignity of all military veterans.” 

Last week, the Portfolio Committee on Defence and Military Veterans expressed concern at the ongoing challenges faced by military veterans, many of whom remain in limbo due to delays in receiving their service-related benefits. 

The committee also expressed concerns regarding the DMV’s lack of a functioning internal audit unit, an essential tool for ensuring financial accountability and risk management.

“The committee highlighted the need for urgent intervention by the executive to turn around the DMV, starting with the appointment of a permanent Director-General, re-evaluating the organisational structure, addressing the findings of the Auditor-General, and developing a more responsive department.” – SAnews.gov.za

Gabisile

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Spaza Shop Support Awareness campaign moves to Beaufort West

Source: Government of South Africa

Spaza Shop Support Awareness campaign moves to Beaufort West

In its continued efforts to uplift township and rural-based businesses, the Department of Trade, Industry and Competition (the dtic), in collaboration with the Department of Small Business Development (DSBD) is set to host a Spaza Shop Support Awareness Campaign in the Western Cape.

Friday’s session is scheduled to take place at the KwaMandlenkosi Community Hall in the Beaufort West Local Municipality and is open to informal traders, spaza shop owners and micro-retailers operating in the area.

This community-focused initiative follows the national launch of the R500 million Spaza Shop Support Fund in April 2025 by dtic Minister Parks Tau and DSBD Minister Stella Tembisa Ndabeni.

The fund aims to help small retailers transition into the formal economy, access funding, and strengthen their businesses.

Delivered in partnership with the Small Enterprise Development and Finance Agency (SEDFA) and the National Empowerment Fund (NEF), the campaign offers practical tools, guidance on compliance, and pathways for inclusion in formal supply chains.

Attendees in Beaufort West will have the opportunity to engage directly with programme implementers, ask questions about the application process, and learn more about the business development resources available to them.

According to the Minister Tau, the fund represents a concrete step by government to formalise and empower the informal sector. He said supporting spaza shops means enabling entrepreneurs, often women and young people, to participate fully in the economy.

“These small businesses generate employment, drive local commerce, and channel much-needed income into communities that have long been underserved. Studies show that small businesses account for a significant portion of job creation in South Africa. 
“By providing spaza shop owners with financial support, infrastructure upgrades, and essential business training, we are setting the stage for sustainable job creation,” the Minister explained.

Meanwhile, Ndabeni said the role played by SEDFA and the NEF is deeply appreciated and that her department believes the fund will go a long way in assisting shop owners who are registered and hold valid operating permits.

“Our partnership ensures that spaza shop owners are not only funded but also trained, mentored, and integrated into reliable supply chains. This is about building long-term sustainability for township retail,” Ndabeni said.

Through initiatives like this, government aims to ensure that township and rural-based convenience shops are better equipped to thrive in a competitive market. – SAnews.gov.za

Edwin

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B-BBEE Commission, BMF establish framework for cooperation and information sharing

Source: Government of South Africa

B-BBEE Commission, BMF establish framework for cooperation and information sharing

The B-BBEE Commission and the Black Management Forum (BMF) will today concretise their partnership through a Memorandum of Understanding (MoU).

The MoU is a culmination of years of close cooperation between the B-BBEE Commission and the BMF. 

The MoU signing ceremony will coincide with a dialogue entitled, “Safeguarding B-BBEE amidst challenges in implementation” and will feature an expert panel who will explore the status of Broad-Based Black Economic Empowerment (B-BBEE) and the challenges that need to be resolved in order for it to achieve its objectives as per the B-BBEE Act. 

President of the BMF, Mpho Motsei, said Black Economic Empowerment was conceived from grassroots movements of black business and professional associations, which included the BMF. 

“It is therefore appropriate for BMF to play a part in the enhancement and safeguarding of the legislation that we helped to conceive, more than 30 years ago,” Motsei said. 

“We are therefore delighted to work with the B-BBEE Commission, as a regulator that provides oversight on the implementation of the legislation that was designed to elevate black people from social and economic subjugation.

“This event occurs at a time when B-BBEE and other transformation policies have been under attack both in the media and the public space. Views on B-BBEE remain divided and there continues to be a lack of understanding with regard to the crucial role B-BBEE plays in bringing about a society that is equitable and inclusive, as mandated by the Constitution of the Republic of South Africa,” he said. 

The dialogue seeks to reframe the discussion on B-BBEE and transformation, by paying particular focus on building an inclusive economy through B-BBEE policy and legislation. 

In doing so, the commission and BMF hope to re-ignite public discourse around the crucial issues of nation building, economic inclusion and compliance with the legislation, thereby safeguarding the objectives of B-BBEE policy. 

The MoU will seek to establish a framework of cooperation and sharing of information and ideas, within the parameters of the B-BBEE legislation, specifically in the following areas: 

• Strategies meant to promote economic transformation in the public interest; 

• Sectoral dynamics which may hinder or promote the prospects of economic transformation;

• Advocacy and awareness programmes on transformation and B-BBEE;

• Developments related to the racial composition of ownership and management structures, as well as skill occupations in the private and public sectors of the economy; and 

• and jointly monitor the effectiveness and gaps in the B-BBEE legislation, and any other policies related to economic transformation.

The B-BBEE Commission and the BMF believe that the MoU will serve as a solid foundation from which to advance the transformation agenda. 

Tshediso Matona, Commissioner of the B-BBEE Commission said the B-BBEE Commission considered the relationship with BMF a necessary step in strengthening ties with transformation advocates and practitioners in business, who are committed to realising the Constitutional provision of redress.

“As the commission, we hold a firm view that the implementation of B-BBEE is a collective responsibility of all stakeholders in the economy and our collaboration with the BMF seeks to promote this view.

“We look forward to a productive partnership with BMF and we are excited about what it will achieve,” Matona said. – SAnews.gov.za

Edwin

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Nzimande places science and innovation at core of long-term sustainability

Source: Government of South Africa

Nzimande places science and innovation at core of long-term sustainability

The Minister of Science, Technology, and Innovation, Professor Blade Nzimande, says South Africa must prioritise science, technology and innovation (STI) to achieve long-term sustainability.

“We deliver this Budget Vote against the background of a complex set of national and global challenges, some of which include economic stagnation, rising social inequality, a breakdown of social cohesion, the negative impact of climate change, technological disruption and new tensions arising from changes in the international economic and political system,” said the Minister while tabling the department’s Budget Vote on Wednesday in Parliament.

He committed to taking STI to the villages, townships, and all the corners of South Africa. 

“We hold the view that our country must place science, technology, and innovation at the centre of government, education, industry, and society if we are to secure our sovereignty and future sustainability.” 

Nzimande highlighted his department’s dedication to speeding up the transformation and growth of human resources and the research workforce in STI.

The Minister stated that this commitment includes advancing the Presidential PhD Programme, which was launched in 2023.

“We will scale up the implementation of the Innovation Fund programme. During this financial year, our target is to support between 10 and 15 venture capital funds through strategic partnerships with, among others, our entity, the Technology Innovation Agency (TIA).”

He stressed that the development of critical scientific skills remains central to the department’s mandate.

According to the department, 288 Research Chairs to 22 universities and national research facilities in various research disciplines have been awarded.

“I am, however, deeply concerned that black researchers and historically disadvantaged institutions (HDIs) have not benefited from this initiative in the manner that we had anticipated,” the Minister said.

To tackle this issue, his department is collaborating with the National Research Foundation (NRF) to establish Research Chairs aimed at addressing these and other deficits in transformation.

“Further to this, our National System of Innovation (NSI) is still characterised by several other transformation deficits, including the low participation of women at the highest levels.”

The department is also strengthening the coordination and direction of the NSI through the Inter-Ministerial Committee on STI, Presidential Plenary for STI, and policy coordination instruments.

In March this year, South Africa hosted its first NSI Transformation Summit. 

The Minister announced that under the leadership of the department’s Director-General, the resolutions of this summit are being incorporated into their strategic plan. 

In addition, he has vowed continued support for Palestinian institutions and researchers, adding that this project is making steady progress.

As part of South Africa’s G20 Presidency, the department is committed to advancing STI priorities for both the nation and the African continent.

The department is also working tirelessly to increase the Gross Expenditure on Research and Development to 1.5%. 

This includes establishing a strategic agreement among organised business, government, and labour to determine future funding.

In addition, the department is focused on maintaining and upgrading crucial science infrastructure and projects, including the Square Kilometre Array (SKA), Nuclear Medicine Research Infrastructure (NuMeRi), and the development of reliable pandemic preparedness capacity.

Another priority is to build strategic innovation partnerships, which involves aligning the key focus areas of the STI Decadal Plan with the relevant line function departments and mobilising additional funding and resources. 
He said significant programmes in areas such as artificial intelligence, energy security, space exploration, vaccine manufacturing, and indigenous knowledge systems (IKS) will be scaled up.

Nzimande stressed that efforts are underway to raise public awareness about the important contributions of the NSI to human development, supported by a vigorous public engagement and communication campaign. – SAnews.gov.za

Gabisile

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Burkina Faso Economic Update: Energy for Economic Growth

Source: APO


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According to the World Bank’s April 2025 Burkina Faso Economic Update, the country’s economy grew by 4.9% in 2024 compared to 3.0% in 2023. Real per capita GDP growth also increased from 0.7% to 2.5% over the same period.

This acceleration is attributed mainly to the performance of services and agriculture, supported by an improved security situation, favorable weather conditions, and increased government support to the agriculture sector.

However, inflation increased in 2024 to 4.2% from 0.7% in 2023, driven by the spike in food prices, caused by market speculation linked to a late start to the rainy season. Despite this, the strong growth in the agriculture and services sectors in 2024 reduced the extreme poverty rate by 3 points to 23.2%, with a sharper decline in rural areas. Despite this, the absolute number of people living in poverty remains high, exceeding 5.5 million.

The report also notes a decline in the twin deficits (fiscal and current account) in 2024. The fiscal deficit improved in 2024 from 6.5% to 5.6% of GDP, thanks to better control of public spending and increased revenue mobilization. At the same time, the current account deficit also improved from 8.0% of GDP in 2023 to 6.4% in 2024, due to the rise in gold prices which boosted the value of exports. However, the financing of this deficit largely relied on regional markets, in an environment of high interest rates.

The report highlights that the short- and medium-term outlook remains positive but is subject to multiple risks such as insecurity, climate shocks, debt refinancing, and challenges in the financial sector. Assuming these risks abate, growth is expected to strengthen to 5% over the medium term, driven by buoyant services, an expected recovery of industry, notably through improved energy access, and favorable average weather conditions for agriculture.

Inflation, meanwhile, is expected to gradually stabilize within the WAEMU target range. This outlook, combined with continued fiscal consolidation, is expected to enable a continued but moderate reduction in poverty estimated at about 1 percentage point per year.

Regarding the economy, Daniel Pajank and Ibrahim Nana, co-authors of the report, call for “Strengthening the mobilization and efficiency of public resources, including through the continuous modernization of the tax administration, the broadening of the tax base and the optimization of public spending, while improving debt management and mobilizing more concessional financing.”

The Special Chapter on Energy for Economic Growth provides an assessment of the electricity sector in Burkina Faso and concrete recommendations to achieve the objectives set in the National Electrification Strategy. It highlights the key role of energy in the country’s economic transformation. According to Hamoud Abdel Wedoud Kamil, World Bank Country Manager for Burkina Faso, “Affordable, reliable, and sustainable electricity is essential to improve productivity in agriculture, support the growth of services, and revive the industrial sector.”

Despite the efforts made, access to electricity remains limited in Burkina Faso, with a rate well below the regional average. This situation constitutes a major obstacle to inclusive growth and reduces economic opportunities for a large part of the population, particularly in rural areas.

The co-authors of the chapter dedicated to the energy sector, Regina Nesiama Miller and Adwoa Asantewaa, emphasize that “An ambitious reform of the sector, including pricing based on the cost of electricity production and the expansion of off-grid access, would be essential to reduce vulnerabilities and ensure inclusive growth.

Finally, the report recommends tackling the structural constraints to the country’s economic transformation, particularly in the electricity sector, which remains characterized by some of the region’s highest generation costs and heavy reliance on imported fuels. 

Distributed by APO Group on behalf of The World Bank Group.