EXECUTIVE SUMMARY _____________________________________________________________________ enterprises. Family enterprises also abound, and they represent more than 85% of businesses registered. This situation constitutes a major handicap to SMEs in Burkina Faso with regard to accessing bank credit and especially to mobilising resources through instruments like the stock market. 5.4 The CRM observed the efforts made by the government and its partners, like the Chamber of Commerce, Industry and Crafts of Burkina Faso (CCIA-BF), to promote the rapid development of the sector by creating several administrative and financial structures. However, most of these are not operational yet outside Ouagadougou and Bobo-Dioulasso. The analysis of public enterprises or state-owned companies revealed that managers are very dependent on the decisions of the public authorities. It also revealed a good system for monitoring their functioning through the general assemblies of state-owned enterprises. With regard to the informal sector, the CRM observed its considerable economic weight. It contributes more than 30% of the GDP and provides more than 70% of nonagricultural jobs. The CRM noted the intention of the government to integrate this sector into the development structures of the country. The CRM emphasised the importance of women to the trade and cottage industry and that they are handicapped because of their illiteracy and have difficulty accessing credit. The CRM confirmed the importance of cotton to the economy of the country and the challenges facing this sector. It feels that the country should wage the cotton war together with the other producing countries of the region. 5.5 The business climate in Burkina Faso has improved considerably during the past few years, thanks to the fiscal and institutional reforms initiated by the state. These include adherence to the Uniform Acts of the investment code. However, the CRM feels that there is still room for improvement. The functioning of the Burkinabe banking system is surely dynamic, but its resources are inaccessible to SMEs as a result of (in particular) their internal constraints. The CRM expressed the wish that the ideas developed by the government, and supported directly or indirectly by the banks and insurance companies, would mobilise long-term resources for SMEs, most particularly those who wish to create agro-industrial production units throughout the country. With regard to insurance companies, the CRM noted their willingness to contribute to the mobilisation of long-term resources, subject to specific incentives that fall within the ambit of the public authorities. 5.6 The CRM was impressed by the creation of micro-finance institutions. It was also impressed by the intention of the government to support their activities in order to facilitate their rate of penetration, to support them in improving their conditions of involvement, and to protect the subscribers and small savers against possible breaches of trust. The dynamism of the Networks of Popular Banks of Burkina Faso (RCPB) also found favour with the CRM. The network is represented in all regions of the country and has introduced innovations intended to facilitate the access of women to credit and to posts of responsibility in the day-to-day management of the network. 18