Premier Minister Paul Kaba Thieba outlined this policy of during a meeting with financial company developers on Thursday in the capital Ouagadougou.

First Capital Plus' new status brings the total number of commercial banks in the country to 27.

The creation of the contemplated bank “can contribute to address the many challenges so as to mitigate structural deficiencies of such a strategic sector,” he explained.

Premier Kaba Thieba has underscored that “most of financial supports to the agricultural sector represent only 3.5 percent of the overall bank financings in Burkina Faso.”

He also said the financial system in the country shows incompleteness as it includes universal banks which are reluctant to engage in sectors considered too risky such as agriculture and livestock.

According to official figures, one third of the 45 provinces in Burkina Faso have a cereals deficit while 3.2 million persons are recorded food-insecure. Enditem

Source: Xinhua/News Ghana


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