Overview

Burkina Faso is a least developed country (LDC), in which agriculture employs 74% of the population. These mostly smallholder farmers rely on rain-fed agriculture, but as climate change hits, rising temperatures and drought are disrupting growing seasons and endangering livestock. Meanwhile, increasingly frequent extreme rainfall events, combined with rapid urbanization, are putting more people, businesses and homes at risk from flooding. Insurance and risk finance solutions are urgently needed to protect food security and safeguard lives and livelihoods.

UNDP’s Insurance and Risk Finance Facility is providing technical assistance in Burkina Faso to build institutional capacity and help identify financial resilience solutions that can protect people and preserve food security.

Main Natural Hazards

Drought

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1 Source:
https://drmkc.jrc.ec.europa.eu/inform-index/INFORM-Risk/Country-Risk-Profile
State of multidimensional fragility

Fragile

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1 Source:
https://www3.compareyourcountry.org/states-of-fragility
% of population covered by inclusive insurance products

0%

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1 Source:

The Microinsurance Network, Landscape of Microinsurance 2023, Based on target population estimate for Uganda of 27,676,946 people

https://microinsurancenetwork.org/resources/the-landscape-of-microinsurance-2023
Biodiversity ranking

#118 out of 239 countries and territories (2023)

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1 Source:
https://worldrainforests.com/03highest_biodiversity.htm
Multidimensional poverty

64.5% (2021)

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1 Source:
https://hdr.undp.org/sites/default/files/Country-Profiles/MPI2024/BFA.pdf
Insurance penetration

1.14% (2020)

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1 Source:
https://www.atlas-mag.net/en/category/tags/focus/cima-zone-insurance-density-and-penetration-rate-per-country-in-2020
Number of insurance providers

7 life insurance companies and 8 non-life insurance companie

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1 Source:
https://www.atlas-mag.net/en/article/insurance-companies-in-burkina-faso
% Workforce engaged in agriculture

74% (2022)

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1 Source:
https://data.worldbank.org/indicator/SL.AGR.EMPL.ZS