Burkina Faso Nationalizes SOFITEX Cotton Company for Economic Control

THE ERA OF OWNERSHIP HAS BEGUN IN BURKINA FASO AND THE ALLIANCE OF SAHEL STATES (AES)

On April 16, 2026, Burkina Faso’s government, led by President Captain Ibrahim Traoré, nationalized the Société Burkinabè des Fibres Textiles (SOFITEX), taking 100% control of the nation’s primary cotton company. This move aims to secure economic sovereignty, address high debt and operational costs, and secure farmer payments.

Key Aspects of the Nationalization:

• Takeover of SOFITEX: The state increased its stake from 89% to 100%, buying out private shares to control the leading cotton company.
• Economic Strategy: The move aims to stabilize the industry against volatile commodity prices, resolve financial issues, and ensure that wealth generated by cotton stays within the country.
• Local Transformation: The government is shifting from exporting raw cotton to industrial, local processing into finished textile goods.
• Broader Economic Moves: This is part of a larger, state-led industrial strategy that also included the nationalization of mining assets in 2024–2025 and the creation of local processing centers.

This decision is aimed at overcoming previous structural issues in the cotton industry, which is essential to the nation’s economy, and to boost local manufacturing.

🗣️ On April 16, 2026, the Government of Burkina Faso under the leadership of President Captain Ibrahim Traoré made a historic move: the 100% nationalization of the cotton company, SOFITEX. With an annual capital of 19.5 billion CFA francs, this is no longer just about textile-this is about economic control and command.

🗣️ For decades, private interests and debts have slowed Burkina Faso textile industry growth down. By taking full control, the Burkina Faso Government, ensures that the wealth created by Burkinabé cotton stays in Burkina Faso and in the pockets of the citizens of Burkina Faso and not in foreign shareholders and/or companies.

🗣️ The Government of Burkina Faso, under the leadership of President Captain Ibrahim Traoré is following the Abibitumi-Abibifahodie Blackprint: Reclaim the industry, Clear the debt, and Build the trillion-dollar-plus future for the people of Burkina Faso.

🗣️ We are transitioning from consumers of foreign goods, to owners of our own and consumers of our own.

https://apanews.net/burkina-faso-nationalizes-sofitex-to-secure-cotton-industry/

apanews.net

Burkina Faso nationalizes SOFITEX to secure cotton industry

The Burkinabe government has officially nationalized the Société Burkinabè des Fibres Textiles (SOFITEX), assuming 100% control of the nation’s leading cotton company.