|
|
Article: True gold for honest men: the discovery of major new gold reserves could give a much needed boost to the beleaguered economy of Burkina Faso. Neil Ford reports on an exciting development.(Burkina Faso)
- Article from:
- African Business
- Article date:
- May 1, 2004
- Author:
CopyrightCOPYRIGHT 2004 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
The West African country of Burkina Faso (Land of Honest Men) possesses relatively few natural resources apart from gold and is plagued by irregular and low levels of rainfall. It is landlocked with the nearest ports many days' hard driving away, and its political history of the past 20 years has been challenging. But 2004 could turn out to be a happy year for one of Africa's least known countries.
Membership of the Communaute Financiere Africaine (Caf) block provides a level of economic stability but trade is fairly limited, so Burkina Faso is unable to take full advance of its currency status. GDP struggles to get above $200 per head. Cotton is the biggest ...