In Burkina Faso, President Ibrahim Traoré withdraws three companies from the privatisation process

The nation is on the brink of a new economic chapter following the decisive move of President Traoré to exclude three vital entities from the privatization agenda

This groundbreaking decision was unveiled during a relocated Cabinet meeting in Bobo-Dioulasso, spearheaded by Minister of State and Government Spokesperson, Jean Emmanuel OUEDRAOGO.

The exclusion of the Burkinabe National Hydrocarbons Company (SONABHY), the Bureau of Mines and Geology of Burkina (BUMIGEB), and the Vehicle Control Center (CCVA) from privatization signifies a strategic shift in the government’s economic approach.

It underlines a commitment to reevaluate economic strategies and bolster control over critical sectors vital to the national economy.

Minister of Transportation, Roland SOMDA, emphasized the profound impact of this decision, highlighting its alignment with a new vision aimed at restructuring the state and rejuvenating strategic sectors to foster a thriving and self-reliant economy.

Furthermore, the Cabinet’s approval of the reacquisition of Burkina Contrôle SA shares in the CCVA marks a significant milestone in reshaping the country’s economic policy.

These forward-looking initiatives exemplify President Ibrahim Traoré and his government’s dedication to fortifying Burkina Faso’s economic foundation and fostering an environment conducive to sustainable growth and development.

Maurice K. Zongo