• Desire of the President of Faso
• Share capital of 15 billion FCFA
• Offer of digital banking services
LThe operation of the Burkina Faso Postal Bank (BPBF), with a share capital of 15 billion FCFA, was officially launched by the President of Faso, Captain Ibrahim Traoré, on October 7, 2024, in Ouagadougou. Operating since April 3, 2023, BPBF has since offered a range of products and services to its customers, both salaried individuals, non-salaried individuals, professionals, institutions, SMEs-SMIs and large companies, etc. 35 years later (a move from 1988), the BPBF saw the light of day under the impetus of the current power, and all that led the Director General of the BPBF, Inoussa Boundaoné, to welcome the vision and especially the political will of the President. from Faso to bring about financial inclusion in Burkina Faso. For the Director General, BPBF is not a simple banking institution but aims to be a vector of change, a tool for financial inclusion for citizens in urban and rural areas.
BPBF has the largest network of banking agencies
The goal of the BPBF is to provide access to financial services to vulnerable people, support small and medium businesses and participate in the development of the national economy, says Inoussa Boundaoné. BPBF is also introducing the digitization of its services and infrastructure upgrades aimed at making transactions simpler, faster and more secure. Until now, customers can be found in the headquarters building, in the city center, and in the Ouaga 2000 group, but soon, the network will expand by relying on the large La Poste BF network, consists of 128 contact points. In addition, the Koudougou and Bobo-Dioulasso branches will open in the coming days.
Prioritize funding for youth and women
For the President of Faso, who gave the speech with the Minister of Economy, Finance and Foresight, Dr. Aboubakar Nacanabo, the BPBF is added to the other strategic financial institutions of the State that will play a vital role the centralization of public resources and the financing of structural projects, contributing to the transformation of the national economy. The Head of State recalled that his government was committed to mobilizing the necessary resources, making strategic reforms and managing the economy effectively to ensure sustainable development. He suggested that the BPBF embrace its main mission, that of promoting financial inclusion and providing access to banking services to people, especially those in remote areas.
He says that he expects the bank’s slogan, which is “The bank closer to you” to reflect this desire to be close to everyone: families, breeders, farmers, young entrepreneurs, traders, etc. But also, the president recommended that the bank diversify its services to the Burkinabè diaspora and continue digitization to meet the mobility needs of customers, to make banking services more accessible, both physically and financially.
Captain Ibrahim Traoré invited all financial institutions to actively support the financing of projects carried out by young people and women, so that, he said, they can fully contribute to the growth of the economy. A well-deserved praise was given to all former employees and especially the former General Directors of Poste BF.
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La Poste BF is the main shareholder with 51% of the shares
LBPBF is a general public commercial bank. A limited company with a Board of Directors, La Poste Burkina Faso holds 51% of the shares, together with other national, public and private institutional shareholders such as the Burkina Faso Chamber of Commerce and Industry (CCI-BF), the Burkina Faso Lottery (LONAB), the Burkinabe Economic and Social Development Fund (FBDES), the National Social Security Fund (CNSS), the Independent Retirement Fund for civil servants (CARFO), the National Insurance and Reinsurance Company Vie (SONAR -VIE) and the representatives Mutual of La Poste-BF (MUTAPOST).
