Burkina Faso Launches First State-Owned Bank Under Junta Leader Captain Ibrahim Traore

Burkina Faso’s government has made a significant stride toward economic independence with the launch of its first state-owned bank, “Burkindlim,” in the capital city of Ouagadougou.

The establishment of this financial institution marks a pivotal moment in the West African nation’s history, reflecting its commitment to achieving economic and financial sovereignty.

Captain Ibrahim Traore, the country’s junta leader, announced the opening of Burkindlim on Friday. He emphasized that the bank’s foundation is built on principles of integrity, serving as both a tool and a symbol of Burkina Faso’s economic autonomy.

This initiative is particularly noteworthy as the country has faced persistent terror threats since 2015, which have severely impacted its economic and socio-political landscape.

Traore, who assumed leadership after a successful coup in September 2022, highlighted the bank’s mission to be more accessible to the people.

He stated that Burkindlim will play a crucial role in driving the nation’s socio-economic development by providing tailored financing solutions for key projects and programs.

In his statement, Traore extended an invitation to public and private development organizations, as well as economic operators, to leverage the services of Burkindlim.

He encouraged them to actively participate in the collective effort to build a sovereign economy dedicated to Burkina Faso’s development.

With the launch of Burkindlim, Burkina Faso is taking a significant step toward rebuilding its economy and enhancing its financial stability, signaling a new era of economic resilience and growth for the nation.