Ouagadougou: The Burkinabe government has granted permission to the Agency for the Promotion of Community Entrepreneurship (APEC) to acquire stakes in two significant factories currently under construction. This decision was made during the Council of Ministers meeting held on Wednesday.
According to Burkina Information Agency, the first project involves a semi-mechanized mining plant located in the South-West region, known as Bielm©ra Mining. APEC is set to hold a 21% stake in this venture. The total cost to establish the factory is estimated at one billion 548 million FCFA. The remaining 79% of the shares will be controlled by the cooperative company “Building the Future,” which represents the interests of APEC members, explained the Minister of Economy and Finance, Aboubakar Nacanabo.
APEC’s second investment will be in a tomato processing plant situated in the Centre-East region, specifically in Tenkodogo. This facility’s construction is projected to cost 7 billion 500 million FCFA, with APEC contributing 1 billion 500 million FCFA in equity. The balance of the investment will be managed by the “Building the Future” cooperative society on behalf of APEC members, Minister Nacanabo noted.
The report highlights that these initiatives are expected to play a crucial role in advancing the industrialization of Burkina Faso. They aim to bolster the national economy by generating employment opportunities, thus contributing positively to the country’s economic development.