The quarterly consultation between the National Directorate of the Central Bank of West African States (BCEAO) and the Professional Association of Banks and Financial Institutions of Burkina (APBEF-B) was held on Thursday 4 April in Ouagadougou. At the end of their meeting, BCEAO officials invited the media to take stock of the meeting.

In order to enhance the transparency of its interventions and to exchange with credit institutions on the application of the regulations of their activities and the financing of the economy, the Central Bank has established frameworks for periodic consultation with the Association banking and financial institutions (APBEF-F). This is how the first meeting for this year took place on Thursday, April 4, 2019. Several subjects were discussed with the heads of the banking establishments. These include the evolution of the economic situation, banking activity, microfinance until the end of December 2018. During the meeting, there was also talk about the progress of the implementation of certain projects involving the Central Bank, and operational and regulatory issues.

Regarding the evolution of the economic situation, the director of the main Agency, also National Director for Burkina, Adama Sankara indicated that the performance of Burkina Faso continues to improve, despite a difficult security environment. "the growth rate of the Gross Domestic Product (GDP) is estimated at 6.6% in 2018 against an achievement of 6.3% in 2017", he noted. Despite these observed performances, Adama Sankara underlined the need to strengthen investments and the need to continue actions to improve the business climate.

Opening of new banking establishments

With regard to banking activity, the National Director for Burkina noted that for the year 2018, the banking and microfinance sectors continued their consolidation in terms of points of sale and means. access to financial services, product diversification and the opening of new establishments. “Outstanding deposits and loans recorded respective increases of 4.8% and 5.5% between 2017 and 2018 and thus amounted, according to the latest forecasts of December 2018, to 3,470.5 billion for deposits. and 2,812.8 for credits,” he explained.


Concerning the state of progress of certain projects, it is necessary to point out the operationalization of the device of support for the financing of SMEs/SMIs of the Central Bank as well as the project of promotion of the factoring in the UEMOA which is a technique allowing a creditor to transfer all or part of his debt to a person, generally a credit institution, which pays him all or part of the debt transferred, in return for a commission. Adama Sankara notified that these projects, carried out in synergy with other actions such as the Credit Information Offices (BIC) should make it possible to significantly improve access to credit for SMEs/SMIs in the WAEMU area and in Burkina Faso in particular. Finally, he confided that the banks have been made aware of their role as a channel for covering the needs for small denomination banknotes and coins in the Union.