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West African Bankers Association

Association des Banques d'Afrique de l'Ouest


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Information on Mali Information on the Economy of Mali
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Mali?

Located in interior Western Africa, Mali has a 7,908.00 km border with Algeria (1,359 km), Burkina Faso (1,325 km), Cote d'Ivoire (599 km), Guinea (1,062 km), Mauritania (2,236 km), Niger (838 km) and Senegal (489 km). Demarcation is currently underway between Burkina Faso and Mali.

 

Bamako is a fast growing city. It has experienced a huge population boom in the past few years. It is situated around the Niger Delta. Bamako is a very old city that has seen the rise and fall of many great empires. It has been a trade center for thousands of years. In 1908 it became the capital of Mali, which was then called French Sudan. The rural-urban migration has seen masses move to Bamako in search of jobs. The huge population pressure on the city has brought many challenges that the government is grappling to cope. Bamako is a tourist destination and hosts tourist from many places most of the year. It experiences hot temperatures for the most part of the year. Like most cities in Africa, Bamako is developing fast, and industries are coming up rapidly.

 

Read more on Mali's Capital

Mali is an African country covering 1,240,192.00 km2 of which 1.61% is water and 1,220,190.00 km2 is land. This makes it the 23rd largest country in the world and slightly less than twice the size of Texas. Its geographic coordinates are 17 00 N, 4 00 W and Bamako is the capital city.

The name of the country derives from the West African Mali Empire.

Its ISO code is ML.

Geography

Mali has a mean elevation of 343 m above sea level.

It has a subtropical climate that is hot and dry from February to June, humid from June to November, and cool and dry from November to February. Its terrain is mostly flat with some rolling plains and rugged hills.

Population

Mali has a population of 17,467,108 making it the 64th largest in the world. The majority of the population lives in the southern half of the country.

French is the official language, although Bambara is also widely spoken. The major ethnic groups reported are Bambara, Fulani, and Sarakole. The majority of the population identifies as Muslim.

 

Mali, like many African countries, is multilingual, which simply means many languages are spoken in the country. Some of these languages have as few as one hundred native speakers. Of these languages, the most widely spoken is the Bambara language, which belongs to the Mande family of languages. Of the many other languages spoken, 12 have the status of a national language. Including Bambara, that makes 13 national languages. French is the official language and is often taught in schools. It is spoken in all of Mali, but especially in the urban areas. In addition to these languages, there are also three sign languages recognized in Mali.

 

Read more on Mali's Languages

The dialing code for the country is 223.

Government

Mali is an independent country. It gained independence from France in 1960. Its constitution was last ratified in 1992.

 

The Republic of Mali has a semi-presidential representative democratic government where the president is chief of state. Power in the Malian government is divided into three arms of government: the judiciary, executive, and legislature. The Republic of Mali has a multiparty system in place. Through multiparty democracy, many political parties have been formed and participate in the politics of the country. Some of the parties include Party for the Difference in Mali, Rally for Education about Sustainable Development, Union of the Movements and Alliances for Mali, Party for National Rebirth, the Malian Union for the African Democratic Rally, Rally for Mali among others. Apart from the parties, several coalitions have also been formed. The Republic of Mali parliament building is located in Bamako Mali and was constructed in the 1930s. In Mali, citizens go to the polls after every five years to elect their leaders. The president is elected for five years. To win in the presidential elections, a candidate must get the absolute majority of votes cast in a two-round system. The members of parliament are also elected for five years with 147 elected through single-seat constituencies. The remaining 13 members are elected by Malians living overseas. Although Mali is prone to coups and rebel attacks, the government is still able to conduct elections. The current constitution was promulgated in 1992.

 

Read more on Mali's Government

Economy

Factoring in Purchasing Power Parity, Mali's GDP is $38,090,000,000.00 (USD) with $2,300.00 (USD) per capita. This makes it the 117th largest economy and its citizens the 193rd richest in the world. The currency of Mali is the Franc (XOF).

 

Its major export partners are SwitzerlandIndia, and China. its main exports are cotton, gold, and livestock. Its major import partners are the Cote d'Ivoire, France, and Senegal. Its major imports include petroleum, machinery and equipment, and construction materials.

Flag

The Malian flag consists of three vertical stripes of red, green, and yellow colors. Green is on the first stripe followed by yellow and red. Green is a symbol of the nature and fertility of Malian land. Yellow stands for the abundant mineral deposits in Mali while red is a symbol of the blood spilled by the heroes when fighting for independence. The Malian flag design was based on the colors of the Pan-African flag. The colors used on the Pan-African flag are the three primary colors used in designing several flags in different African countries. These colors have a significant meaning for African nations. The colors originated from the Ethiopian flag. Ethiopia is a country that played a vital role in inspiring other African countries to fight for their independence during colonial rule. The country was never colonized hence its role in inspiring African countries. Mali has only used one other flag after gaining independence from France. The flag used had only one different element, the Kananga, on the middle band. The Kananga, a black human-like figure with hands raised to the sky, was used in the original design of the current flag. This particular flag was used from 1959 to 1961. The Kananga was removed because many Malians were against its use on the flag because of Islam doctrines.

 

Read more on Mali's Flag

 

 

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Capital

Bamako

Languages

French (official), Bambara 46.3%, Peul/Foulfoulbe 9.4%, Dogon 7.2%, Maraka/Soninke 6.4%, Malinke 5.6%, Sonrhai/Djerma 5.6%, Minianka 4.3%, Tamacheq 3.5%, Senoufo 2.6%, Bobo 2.1%, unspecified 0.7%, other 6.3%

Ethnic Groups

Bambara 34.1%, Fulani (Peul) 14.7%, Sarakole 10.8%, Senufo 10.5%, Dogon 8.9%, Malinke 8.7%, Bobo 2.9%, Songhai 1.6%, Tuareg 0.9%, other Malian 6.1%, from member of Economic Community of West African States 0.3%, other 0.4% (2012-13 est.)

Religion

Muslim 94.8%, Christian 2.4%, Animist 2%, none 0.5%, unspecified 0.3% (2009 est.)

Government

Semi-presidential republic

Independance

22 September 1960 (from France)

Area

1,240,192.00 km2

Water Area

20,002.00 km2

Land Area

1,220,190.00 km2

Population

  • 17,467,108.00
  • The overwhelming majority of the population lives in the southern half of the country, with greater density along the border with Burkina Faso

Location

interior Western Africa, southwest of Algeria, north of Guinea, Cote d'Ivoire, and Burkina Faso, west of Niger

No. Bordering Countries

7

Bordering Countries

Algeria 1,359 km, Burkina Faso 1,325 km, Cote d'Ivoire 599 km, Guinea 1,062 km, Mauritania 2,236 km, Niger 838 km, Senegal 489 km

GDP(PPP)

$38,090,000,000.00 (USD)

GDP (Per Capita)

$2,300.00 (USD)

Export Partners

Its major export partners are Switzerland, India, and China.

Export Commodities

its main exports are cotton, gold, and livestock.

Import Partners

Its major import partners are the Cote d'Ivoire, France, and Senegal.

Import Commodities

Its major imports include petroleum, machinery and equipment, and construction materials.

Climate

Subtropical to arid; hot and dry (February to June); rainy, humid, and mild (June to November); cool and dry (November to February)

Terrain

Mostly flat to rolling northern plains covered by sand; savanna in south, rugged hills in northeast

Learn More

Mali

 

About WABA


     
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Our Mission and Objectives

 

What We Do at WABA
Our Leadership and Governance

 

     

The West African Bankers Association's mission is "to develop, promote, generate, coordinate and drive cross border banking and financial transactions that will enhance regional trade, economic and financial integration and development." ...read more

WABA creates avenues for the revision and exchange of information on banking practices in the sub-region in particular and in Africa in general, and a forum for the discussion of common problems. The enhancement of the promotion and strengthening of ...read more

WABA comprises 3 organs namely; The Secretariat, The Executive Council and the General Assembly, including the Executive Management, and the Board of Directors. The Secretariat is run by the Secretary General who is the Chief Executive Officer. ...read more

 
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