Introduction

Professor Laurent Bado is a Burkinabe researcher who once led the political party PAREN. As part of his political commitment, he outlined an economic model of popular shareholding for the implementation of large-scale projects in Burkina Faso. Decades later, the Agency for the Promotion of Popular Entrepreneurship (APEC) decided to champion this initiative, receiving favorable support from Burkinabe authorities.

Vision of Popular Shareholding

In a vision of endogenous and exclusive development conditioned by growing economic difficulties exacerbated by insecurity, a presidential program of community entrepreneurship through popular shareholding was launched in Burkina Faso on June 12, 2023, in the capital, Ouagadougou. According to the governor of the Hauts-Bassins region, “Through this agency (APEC), the Burkinabe authorities aim to promote the creation of companies through popular shareholding, with the sole promoter and main beneficiary being the Burkinabe people.” Popular shareholding will therefore involve financing development projects through funds from Burkinabes living in the country and those from the diaspora who wish to participate by subscribing.

Principle of the Economic Model

This initiative aims to ensure self-financing by Burkinabes to promote strategic sectors such as agriculture, livestock, industry, textiles, and mining; all within a dynamic of global and endogenous development that mobilizes internal resources and places Burkinabes at the heart of the process. It is therefore an economic model where the Burkinabe people are both shareholders, beneficiaries, and consumers. In this sense, the Director General of APEC believes that “it is only through ourselves that we are capable of reflecting on and implementing the development that suits us.”

Ongoing Projects

After the town of Yako, which already has its tomato processing plant and is working to market its first cans in December 2023, Bobo-Dioulasso has made an important step towards establishing community entrepreneurship. Indeed, this city saw the laying of the foundation stone for the construction of its tomato paste production plant on September 23, 2023, on an area of ​​2.7 hectares with an estimated project cost of 5 billion CFA francs. This factory will create 100 direct jobs and more than 5,000 indirect jobs. Finally, November 23, 2023, also marked the laying of the foundation stone in Ouagadougou for the construction of a gold refinery in partnership with the Malian company “Marena Gold.” With an annual refining capacity of 150 tons, its first ingots are expected by the end of 2024. Ultimately, this project will also create 100 direct jobs and 5,000 indirect jobs.

Conclusion

Community entrepreneurship through popular shareholding has a philosophy of endogenous development and offers several benefits at all stages of its implementation. In Burkina Faso, it represents hope for reducing unemployment and creating wealth. Several tens of thousands of Burkinabes have already subscribed to it and continue to do so.