Sank Business Aims for Leadership in Money Transfers Across Burkina and Africa

Ouagadougou, Burkina Faso – the siblings Sada Zougmoré, Director General of Sank Finance, and Dramane Tiendrébéogo, co-founder of Sank-money, have resolved their previous disagreements to unite their efforts in positioning Sank Business as a leader in the money transfer sector nationally and on the African continent. This development was observed and reported by AIB on Wednesday.

According to Burkina Information Agency, the two brothers, descendants of Thomas Sankara, have joined forces to enhance Sank’s standing in the financial industry, aiming to become a forefront provider in Burkina Faso and across Africa. Zougmoré highlighted the significance of their reconciliation and the strategic partnership formed to propel the company forward during a press conference attended by various media representatives.

The discord among the company’s top executives, which has been evident since December 2022, centered around the company’s foundational agreement. However, as of March 1, 2024, an agreement regarding Sank Business’s management was reached between Wendemi Jules Kader Kaboré, Boureima Namena, and the co-founders, focusing particularly on the commitment to debt settlement schedules.

Zougmoré expressed satisfaction with the resolution, emphasizing the importance of unity and collaboration for the company’s and country’s progress. He proudly mentioned Sank’s extensive user base, with 600,000 users and over 5,000 agents, and plans for expansion to include services like payments for the National Electricity Company of Burkina (SONABEL) and the National Water and Sanitation Office (ONEA).

Dramane Tiendrébéogo also spoke on the resolution of their differences, stressing the importance of setting an example for future generations and working together for the common good. He noted that the company’s ownership extends beyond the founders to all citizens who have shown their support since its inception in 2021.

The reconciliation culminated in the transfer of all shares to Boureima Namena, who will lead Sank Business. Despite the change in leadership, both founders affirmed their ongoing commitment to the company and the nation.

The announcement marks a significant step towards stability and growth for Sank Business, reflecting a unified vision for its future in Burkina Faso and beyond.