Public Management

Burkinabe President improves conditions for Homeland Defense Volunteers

Burkinabe President improves conditions for Homeland Defense Volunteers
Tuesday, 16 January 2024 04:39

(Ecofin Agency) - The Burkina Faso government set up a patriotic support fund last January to provide an urgent and effective response to the humanitarian and security crisis that has been raging in the country for years.

This year, the President of the Transition -Ibrahim Traoré (pictured) has initiated the improvement of the conditions for the Volunteers for the Defense of the Homeland (VDPs), according to information reported by local media. As part of this plan, we learned, the disability allowance will be raised from CFA1.8 million to CFA3 million while the monthly wage will be increased to CFA80,000 from CFA60,000. The death benefit will also increase from CFA1 million to CFA3 million and burial expenses from CFA100,000 to CFA250,000.

In addition, a joint decree signed at the end of December 2023 also provides for the continued payment of the food allowance at CFA1,500 per day and medical expenses at CFA2,000 per month for VDPs.

All these measures coincide with the enforcement of a decree imposing mandatory deductions on the earnings of public sector employees and private sector workers. Specifically, a 1% mandatory deduction will be applied to the net salaries of public and private sector workers, and 25% on bonuses paid to personnel in ministries and institutions, including state-owned company and public institution employees. The introduction of these deductions will support the intensified efforts for the defense and security of the national territory, as stated by the government.

Captain Ibrahim Traoré has prioritized the fight against terrorism and the reclaiming of the territory. In this regard, several reforms have been implemented, including the establishment of the Patriotic Support Fund (FSP) in January 2023 to provide an urgent, effective, and efficient response to the humanitarian and security crisis the country has been facing for several years. Initially fueled by voluntary contributions, the government deemed it necessary to supplement the Fund with mandatory contributions collected on certain products and services.

According to official data reported by local media, the Fund has mobilized over CFA70 billion (around $117 million) as of December 7, 2023, against a projected target of CFA80 billion ($133 million).

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
• The African Solidarity Fund has provided CFA225 billion ($390 million) in guarantees to support Niger’s development• Targeted sectors include...
The Central Bank of the West African States (BCEAO) licenses nine fintechs for digital payment services in the West African Economic and Monetary Union...
Senegal raises CFA196.8 billion ($339 million) through a three-year treasury bond Over 60% of funds came from Côte d’Ivoire investors, revealing...
• Family Bank plans to list on the Nairobi Stock Exchange in 2026 to boost share liquidity and finance its growth strategy• The IPO marks a potential...
Most Read
01

Nigeria’s audit industry grew 65% in 2024, reaching 28.2 billion naira ($14.4 million). KPMG, EY,...

Big Four Hold 99% Share of Nigeria’s Audit Market in 2024
02

• WAEMU’s tax revenue remains far below the 20% benchmark, stuck at 14% of GDP• IMF projects target ...

IMF Warns WAEMU May Miss 20% Tax-to-GDP Target Until 2048 or Beyond
03

• U.S. bill includes 5% tax on money sent abroad by migrants, affecting $13B to Africa• Nigeria...

New U.S. Remittance Tax Threatens African Families and Fintech Startups
04

The African Development Bank has approved a $304 million loan to Botswana to support the southe...

African Development Bank Approves $304 Million Loan to Support Botswana's Fiscal Stability and Economic Reforms 
05

South Africa’s Unemployment Insurance Fund (UIF) will inject $21 million into the South Afr...

South Africa: UIF Injects $21M into Post Office to Save 6,000 Jobs
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.