Taking Center Stage: Private Sector Actors Embrace Self-Assessment for Growth
1974-2024: The National Employers Council of Burkina Faso Celebrates 50 Years of Existence
The National Employers Council of Burkina Faso (CNPB) is celebrating its 50th anniversary, marking a significant milestone in the country’s socio-economic development. To commemorate this occasion, the CNPB is hosting a general meeting of the private sector from September 5 to 7, 2024, in Ouagadougou.
The Contribution of the Private Sector to Burkina Faso’s Socio-Economic Development
The theme of the general meeting is “The Contribution of the Private Sector to the Economic and Social Development of Burkina Faso: Situation, Issues, and Perspectives.” This theme reflects the CNPB’s commitment to evaluating the private sector’s role in driving economic growth and social development in Burkina Faso.
According to data from the Ministry of Economy and Finance, the private sector contributes at least 70% to the country’s GDP. Additionally, the private sector is the main provider of jobs, with over 10.4 million workers, accounting for 9 out of 10 jobs in Burkina Faso.
The private sector also contributes significantly to the country’s tax and customs revenues, accounting for almost 90% of the total. Furthermore, the private sector is the main driver of financial resources for the state budget and the peace effort.
The Challenges Facing the Private Sector
Despite its significant contributions, the private sector faces numerous challenges, including uncertainty and terrorist threats, geopolitical tensions, international inflation, energy shortages, financial market regulation problems, and climate change.
In the face of these challenges, the Burkinabé private sector has shown remarkable resilience, according to Idrissa Nassa, President of the CNPB. ”The private sector conferences are an opportunity to reflect on these challenges and the essential renewal. These days of reflection are organized from the angle of optimizing the contribution of the private sector to socio-economic development, with the aim of laying the foundations for improving its performance and competitiveness.”
The General Meeting of the Private Sector
The general meeting of the private sector will bring together prominent personalities from the world of business, public administration, sub-regional and regional economic communities. The meeting will feature a number of panels and workshops on various themes, including the necessary reforms to the business environment, the role and place of the private sector in the agro-sylvo-pastoral attack, and the essential transformations to be made within the support structures for the private sector.
Other topics to be discussed include better consideration for national private companies when implementing PPP projects and large projects, the social commitment of the private sector for eco-responsible and sustainable participation, and the approach for young people and women in business.
The general meeting of the private sector is an opportunity for the CNPB to reflect on its contributions to Burkina Faso’s socio-economic development and to identify areas for improvement. The meeting will also provide a platform for stakeholders to discuss the challenges facing the private sector and to explore ways to address them.
By Akim KY
Burkina 24