Ouagadougou: The share capital of the public transport company (SOTRACO) will increase from 800 million to 5 billion FCFA with at least 75% of the shares for the State and its branches, the AIB has learned this Wednesday from a government source.The government adopted a decree allowing the increase in the participation of the Burkinabè Economic and Social Development Fund and the Municipality of Ouagadougou in the share capital of SOTRACO, in accordance with the Extraordinary General Assembly of SOTRACO which in its session of January 24, 2024, recorded the recapitalization of the company to go from a share capital of 800 million CFA francs to 5 billion CFA francs.'In view of the important role of SOTRACO in the urban mobility of the population in general and that of pupils and students in particular, the Government has decided to restructure it through recapitalization in order to allow the continuity of activity and 'be part of a dynamic of virtuous governance' specifies the minister spokesperson for th e government, Jean Emmanuel Ouédraogo in his report from the council of ministers.SOTRACO was created in July 2003 thanks to the combined efforts of the Burkinabé State, the Municipality of Ouagadougou and private operators and began its activities on November 7, 2003 in Ouagadougou before deploying to Bobo-Dioulasso, in Koudougou and in Ouahigouya.Source : Burkina Information Agency
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