Hire your remote team in Burkina Faso

Rivermate is a global employment solutions company that provides Employer of Record services in Burkina Faso.

As an employer of record, we help you hire employees and run payroll services in Burkina Faso, allowing you to avoid the necessity of first establishing a branch office or subsidiary in Burkina Faso.

It is not necessary to establish an entity in order to hire an employee. We can hire your employee in any country with a few mouse clicks. Using our Employer of Record solution, you can have full compliance, benefits, and automated payments.

If you wish to hire a remote team in Burkina Faso or individually hire remote employees in Burkina Faso, Rivermate’s global employer of record services will make sure that the process will be as seamless as possible for you.

Send us a message so we can talk about how Rivermate’s Employer of Record Burkina Faso services can best help your company!

The average cost of living in a developing nation like Burkina Faso is $808. It is 1.1 times greater than the global average. Burkina Faso ranks 91st in terms of living costs and 176th in terms of quality of life out of 197 nations. A family of four pays $1977 per month in living expenses.

Agriculture employs around 90% of Burkina Faso's labor force. Cotton textiles are the most important export item. Other agricultural goods include rice, peanuts, sesame, millet, and maize. After agriculture, the handicrafts industry is the population's second largest source of income. Agriculture is the biggest sub-sector (35%), followed by livestock, forestry, and fishing (18%) and commerce, transportation, and communications (13%).

Mining, particularly gold mining, has been a significant export business in recent years. The primary and tertiary sectors continued to dominate the economy in 2011, each with a 38 percent share. Several initiatives have been taken by the government to encourage this industry. Among the development initiatives are the establishment of industrial nurseries, industrial growth and competitiveness centers, and incentives for industrial investment. FDI into the mining industry has skyrocketed. Prospective investors might take use of the country's mineral reserves. Burkina Faso has recently gained attention for its gold, zinc, manganese, and uranium mines.

The area has developed both dependable and competitive mobile and internet services as a result of the concentration of foreign direct investment in the telecommunications industry. Burkina Faso's financial system accounted for 30% of the country's GDP and 90% of overall financial system assets in 2009. As foreign assistance rises, many development sectors emerge to meet contemporary expectations and amenities. These industries include real estate, information technology, mining, manufacturing, and energy, among others.

Burkina Faso's labor and employment policies are governed under the Labour Act of 2008. It delegated to the employer the power to set work and compensation directives and rules. The Labour Act does not apply to civil officials, judges, the army, and so on. Agricultural and non-agricultural employees are paid differently under labor legislation. A decree issued in 2010 guaranteed minimum pay for certain government sectors. Wages are also determined in accordance with the collective agreement, so that they do not go below the government's minimum wage. The Labour Act governs working conditions, pay cycles, social security, associations, and so forth.

Burkina Faso placed 124th on the Index of Economic Freedom in 2021, with a score of 56.5. Burkina Faso's economy is built on agriculture and animal rearing. Burkina Faso's nominal GDP (gross domestic product) has been gradually increasing. GDP was $12.6 billion in 2017, a 5.9% rise over 2016. Due to Covid 19 limits, real GDP fell by around 5% in the first half of 2020. Favorable trade conditions and the execution of the government's emergency plan were responsible for the 8% turnaround in the third quarter. The year had an estimated 0.6% increase in real GDP.

Growth is expected to be 3.1% in 2021 and 5% in 2022. As the economy recovers from uncertainties in 2021, services are predicted to progressively improve, gold output to stay strong, and the agriculture sector to remain steady.

Burkina Faso's compensation laws require that formal sector employees earn a minimum wage of 34,664 West African CFA francs per month. The minimum wage was last increased in 2012, but does not apply to agricultural workers or other informal workers. Employers must adhere to this minimum wage or to additional compensation guidelines outlined in a collective bargaining agreement applicable to them (CBA).