<p><i>Borassus akeassii</i> Ouédr. &amp; Guinko, commonly known as the African fan palm, is a multipurpose species that has historically played a central role in sustaining rural livelihoods in southwestern Burkina Faso, particularly within the Gouin society of Gouindougouba. Its various parts have traditionally been used for palm wine production and handicrafts, contributing significantly to both local economies and cultural practices. However, these long-standing uses are undergoing profound transformations driven by shifting socio-economic and cultural contexts. This study draws on ethnographic surveys conducted among local respondents, complemented by archives data and direct field observations, to examine changes in palm management practices and use. The findings reveal a marked decline in both the populations and utilization of B. akeassii in a region where the species once held substantial livelihood importance. This decline is closely associated with the reduction in palm wine production, historically the primary product and a key driver of its cultivation. It is further exacerbated by the diversification of rural livelihoods toward more profitable economic activities, alongside broader cultural and religious shifts, changing dietary patterns, and increasing integration into emerging socio-economic systems. Overall, the results highlight the significant influence of social transformations on the dynamics of useful plant species. They underscore the need for integrated conservation strategies that explicitly account for both economic and cultural dimensions. Revitalizing B. akeassii cultivation will require a combined approach that promotes the value of the species and its derived products. Such efforts could be supported through targeted public policies, including plantation programs, integration into national reforestation initiatives, and sustained support for local producers and processors.</p>