OUAGADOUGOU — The Burkinabè government has decided to restructure the Ouagadougou Public Transport Company (SOTRACO) through recapitalization, aiming to ensure the continuation of its operations while promoting better governance practices.

According to Burkina Information Agency, August 21, 2024, SOTRACO has been struggling with financial and management challenges, despite ongoing support from the state. These issues have threatened the viability of the company, necessitating a comprehensive restructuring. The government's plan includes recapitalizing SOTRACO, increasing its share capital from 800 million CFA francs to 5 billion CFA francs. The restructuring will allocate at least 75% of shares to the state and its branches, with the remaining 25% reserved for the private sector.

The Council of Ministers also highlighted that this decree would enhance the involvement of the Burkinabè Economic and Social Development Fund and the municipality of Ouagadougou in SOTRACO's operations.