Burkina Faso launches "Diaspora Bonds" in Canada to fund national development projects
via Lefaso.net3 min read
Burkina Faso has launched its "Patriot Loan" operation, also known as "Diaspora Bonds," in Montreal and Ottawa, aiming to raise 125 billion CFA francs from Burkinabè living abroad. Officially launched on May 6, 2026, in Burkina Faso, this initiative allows expatriates to contribute to national development projects while benefiting from a secure financial investment. The funds are intended for several key state projects, including the creation of an industrial free zone for agro-industry, the construction of the Bagré-Aval hydroelectric plant, the establishment of five urban solid waste treatment units, an industrial fertilizer production complex in Kodjari, and the Ouagadougou–Bobo-Dioulasso highway. A delegation, including Ms. Nandy Somé/Diallo, Ambassador of Burkina Faso to Canada, Mr. Boukaré Zouanga, Director of Public Debt, and Mr. Ismaël Aziz Daboné, Delegate of the High Council of Burkinabè Abroad in Canada, presented the objectives, subscription methods, and expected returns of the operation. Two subscription options are available: a five-year bond with a 6.75% interest rate and a seven-year bond with a 6.85% interest rate, with interest paid semi-annually. To ensure accessibility, individuals with a bank account in Burkina Faso can subscribe from 10,000 CFA francs, while other investors have a minimum threshold of 50,000 CFA francs. Maranatha Ouedraogo, negotiation director at SBIF, highlighted the attractive yield, secure placement, and regular income, emphasizing t
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Must ReadHeads of State and Government of the Economic Community of West African States ECOWAS have reaffirmed their commitment to launching the ECO, the regional organization's future single currency, by 2027. This decision was announced following the 69th ordinary session of the Conference of Heads of State and Government, held on July 19, 2026, in Lungi, Sierra Leone. Through this reaffirmation, West African leaders aim to accelerate the region's economic and monetary integration process. The ECO project is considered a major step in building a more integrated common market, capable of facilitating trade, reducing transaction costs, and strengthening the competitiveness of member states' economies. According to ECOWAS officials, adopting a single currency should also contribute to improving macroeconomic stability, fostering investment, and strengthening the resilience of West African economies to external shocks. It is one of the organization's flagship projects in its pursuit of deeper regional integration. By reaffirming the 2027 deadline, ECOWAS demonstrates its determination to overcome obstacles and continue implementing one of the most ambitious projects of West African integration. If the timeline is respected, the ECO will mark a new stage in strengthening economic cooperation among countries in the sub-region.
The football federations of Burkina Faso, Mali, and Niger have submitted a joint declaration of interest to co-host the 2032 Africa Cup of Nations CAN. This announcement was made by the Nigerien Football Federation FENIFOOT in a statement dated July 20, 2026. The declaration of interest aligns with Article 7.3 of the Confederation of African Football CAF bid regulations, officially initiating their participation in the bidding process. A working meeting took place in New York on July 18, 2026, between CAF President Dr. Patrice Motsepe and the presidents of the football federations from the three nations. During this meeting, the CAF President acknowledged the shared ambition of the three states to jointly organize the 2032 Africa Cup of Nations. The federations of Burkina Faso, Mali, and Niger plan to continue their collaboration to prepare the full bid dossier.
Burkina Faso's Prime Minister inaugurated the 50 MW thermal power plant in Pabré, marking a significant step towards the nation's energy independence. This event followed the laying of the first stone for the future 120 MW Ouaga South-East thermal power plant in Saaba, an infrastructure project estimated to cost 133 billion FCFA. The Prime Minister emphasized that energy sovereignty is crucial for Burkina Faso, stating that the country will not rest until national electricity production surpasses demand. He highlighted that past reliance on electricity imports proved limited, exposing the country to external disruptions. The current strategy focuses on building domestic production capacities to achieve strategic autonomy and energy sovereignty, aligning with the vision of the President of Faso, Captain Ibrahim Traoré. The Minister of Energy, Mines, and Careers, Yacouba Zabré Gouba, noted that the Pabré plant's commissioning represents more than just an investment, reflecting the government's commitment to national sovereignty, economic development, and improving citizens' living conditions. Massoud Hassan Abdo Jaied, General Administrator of Al Ahram Taqa Burkina, expressed gratitude to Burkinabe authorities and partners, reaffirming his group's commitment to supporting Burkina Faso's energy sovereignty journey. In recognition of their contributions, the CEO and General Administrator of Al Ahram Taqa were awarded the rank of Knight of the Burkinabe Order of Merit. The Pabré p