The impact of devaluation on small enterprises in Burkina FASO
The 50 per cent devaluation of the CFA franc (FCFA) in January 1994 has led to an economic revolution for francophone Africa. This article examines the impact of devaluation on a dynamic part of the Burkinabè economy, the small enterprise sector, where the effects were supposed to be positive. Against expectations, the conclusions of this research reveal that most of these enterprises have been in crisis since 1994: their real turnover has decreased by 22 per cent and their margin by 24 per cent. The manufacturing of substitute products is still a long-term objective.