Burkina Faso: The policy of nationalizing the country’s properties is underway

The government of Burkina Faso, under the leadership of Captain Ibrahim Traore, is pursuing its policy of nationalizing everything that belongs to the people of Burkina Faso and that has in the meantime passed into the hands of foreigners or gone into the private sector.

Under the leadership of Captain Ibrahim TRAORE, the Burkinabe government continues its policy of nationalizing assets previously transferred to foreign hands or the private sector.

The goal is to enable the state to better control wealth-generating resources for the country’s development, ensuring that all Burkinabe citizens benefit.

Since Captain TRAORE’s rise to power, several privatized companies and assets have been reclaimed by the state, with more to follow.

As of Thursday, June 27th, three additional companies have come under full state control, following the Transitional Legislative Assembly’s (ALT) approval of a government-proposed law.

These companies are the Bureau of Mines and Geology of Burkina (Bumigeb), the Burkinabe National Hydrocarbons Company (Sonabhy), and the Vehicle Inspection Center (CCVA), all deemed strategically important.

The deputies have thus authorized the government to reverse the privatization of these entities.

Reports indicate that the CCVA, currently 51% privately owned, will be fully nationalized, while Sonabhy and Bumigeb will remain public enterprises.

In the face of security and economic challenges, the state must assume its responsibilities to ensure the socio-economic well-being of its citizens and a prosperous future for the country through responsible public administration.

Papa IBRAHIMA