Ouagadougou: The Burkinabè State decided on Wednesday, during the weekly meeting of ministers, to restructure the Ouagadougou Public Transport Company (SOTRACO) through recapitalization to allow the continuity of the activity and place it in a dynamic of virtuous governance.“For some time, SOTRACO has been facing financial and management difficulties, despite permanent support from the State, thus compromising its viability,” indicates the report of the Council of Ministers of this Wednesday, August 21, 2024.According to the same document, the Burkinabe government has decided to restructure through recapitalization with the aim of allowing the continuity of the activity and placing it within a dynamic of virtuous governance.“Due to this restructuring, the Extraordinary General Assembly of SOTRACO, in its session of January 24, 2024, recorded the recapitalization of the company to go from a share capital of 800 million CFA francs to 5 billion CFA francs, with at least 75% of actions for the State and its branches and 25% for the private sector,” the report continues.The Council of Ministers also notes that the adoption of this decree will increase the participation of the Burkinabè Economic and Social Development Fund and the municipality of Ouagadougou.Source: Burkina Information Agency