President Traore Reduces Western Imports By Reviving Burkina Faso’s Local Beverage Company.

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Just like Thomas Sankara, President Traore is a strong advocate of self-sufficiency. This is why he has embarked on several projects in Burkina Faso that will ensure that Burkina Faso is self-reliant and does not need to depend on the West. One such project is the revival of the Burkinabe beverage company known as BRAFASO. But how does Traore intend to revive this company and how will this affect the Burkinabe economy? Let’s find out.

The Burkinabe Minister of Economic Finance, Dr. Abubakar Nakanabo, collaborated with the Minister of Industrial Development Trade, and Handicraft, Serges Gnaniodem Poda, to revive the Burkinabe local beverage company, BRAFASO. The two Ministers oversaw the signing ceremony of a partnership agreement between the government and BRAFASO. The aim of the agreement is to relaunch the activities of BRAFASO, a local Burkinabe beverage company that specializes in the production of juices and drinks.

According to the statement released by the Ministers, the Burkinabe government established a decree that changed the name of the company from BRAFASO to SN BRAFASO, with a capital set at six billion CFA Franc. This decision was made during the Council of Ministers meeting held on October 23rd, 2024. During the meeting, the ministers adopted a decree to establish a mixed economy company, known as SN BRAFASO. According to the Ministers, this move is part of the restructuring of the country and a way to control strategic sectors in the Burkinabe economy.

During the meeting, the Minister of Industrial Development, Serges Poda was taxed with the responsibility of ensuring that appropriate measures are taken to revive the activities of the beverage company, BRAFASCO. You see, prior to this time, the company had shut down and liquidated and its assets were transferred to the state. However, with the new decree adopted by the government, the newly revived company will now be operational. As we said earlier the company is a mixed economy company which means that it will be partly owned by the state and partly owned by the private sector. To kick off operations, the Company requires a capital of 6 billion CFA Franc, out of which 70 percent will be provided by the government and the remaining 30 percent will be provided by the private sector.