Ouagadougou: The Council of Ministers has officially sanctioned two critical decrees enabling the State to assume full control over the Public Transport Company, SOTRACO. This strategic move involves increasing the State's stake in the company and acquiring shares previously held by private entities.

According to Burkina Information Agency, SOTRACO, established in 2004 with an initial capital of 800 million CFA francs, expanded its capital to 5 billion CFA francs in 2024. Despite this expansion, the company faced a financial deficit nearing 200 million CFA francs that same year. To bolster SOTRACO's capabilities and enhance urban transportation, especially for students and the general populace, the State recently procured 500 buses under the Presidential Initiative for Quality Education.

The first decree facilitates the State's increased involvement in SOTRACO's share capital, recognizing the company's pivotal role in executing the presidential education initiative. Meanwhile, the second decree empowers the State to acquire 36,075 shares, representing 8.39% of the company's capital, from various private shareholders.

The ratification of these decrees signifies the State's complete takeover of SOTRACO, promising a revamped management approach to better align with governmental urban mobility policies.