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B/Faso gov’t takes over Air Burkina management

The government of Burkina Faso has taken over the management of Air Burkina, following the signing of a contract of management cessation with the Aga Khan Fund for Economic Development (AKFED), the Ministry of Transport told APA Friday.This new development is in synch with the wish expressed by the AKFED Group to withdraw from the management of the carrier.
Owned by Prince Karim Aga Khan, the AKFED Group had taken control of Air Burkina, which was set up in 1967.
The sale of AKFED shares will be made at a symbolic franc.
“The state will make every effort to succeed in managing the company and offer Air Burkina a bright future.

The government has taken all the necessary measures to instill in Air Burkina a new dynamism, which is a source of growth,” Transport Minister Souleymane Soulama declared.

AKFED officials explained that their withdrawal has nothing to do with any litigation; rather it is a deliberate choice of the group, which intends to withdraw purely and simply from the aeronautical field, to invest in other sectors.
Prince Aga Khan’s Holding Industrial Promotion Service (IPS) is also present in Burkina Faso in the cotton sector with Fasocoton, in the sugar business with the national sugar company (Sosuco) and with Fasoplast in the plastics sector.

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