Sank: The majority action Boureima Nanema available for mediation with his brother and partner Jules Kader Khaboré (press release)

PRESS RELEASE

SANK BUSINESS, WHAT YOU NEED TO KNOW…

1- In December 2022 Mr. Boureima Namena pays 80% of the shares of Sank with the founder Jules Kader Khabore

2- Deed of transfer signed by a notary and registered with clear conditions. A first part of the sum was paid to the assignor Jules Kader Khabore and the rest to be used to pay off the company’s debts with financial and other institutions. Another part of the sum will be incurred for the formalities necessary for the normal commissioning of Sank

3- For questions of incomprehension following the interpretation of the clauses of the deed of transfer signed before a notary and without a real desire for an amicable settlement, Jules Kader Khabore and his counsel seize to everyone’s surprise justice for the purpose of canceling the sale with various unfounded reasons

4- Justice, like the documents presented by the two parties, rejects their request, dismisses them at the costs and confirms the deed of transfer is well founded. It therefore orders the shareholders to continue the collaboration on the basis of the clauses of the deed of transfer and the regularization of the company’s statutory documents.

5 – The majority shareholder, Mr. Namena, therefore undertakes the formalities for the regularization of the company and its commissioning by injecting money to make it more competitive. Hence the rebirth of Sank with more visibility and commitment. The court decision discharges the new shareholder to convene a general meeting on September 8, 2023 amending the articles of association and ratifying the transfer of shares materialized before a notary.

6 – At the same time, the majority shareholder is still trying to mediate amicably with his partner and Brother Jules Kader Khabore residing in the USA so that together a solution can be found for the influence of Sank

7- Pending the date of September 08, 2023 scheduled for the general meeting of Sank Business authorized by a court decision of Burkina Faso and notified to the council of Jules Kader Khabore, spades are launched in social networks by the assigning Jules Kader Khabore and a video was finally made and published this Monday 08/28/2023 by Mr. Jules to denounce the partnership and sow confusion and doubt in the minds of consumers

8- In any case and at the end of the general meeting scheduled to be held legally on September 08, 2023, the majority shareholder Mr. Namena remains available for any mediation and conciliation with his partner Jules Kader Khabore for the continuation of the operation of their Sank company in compliance with the commitments made by both parties

For now, the focus is on repositioning Sank in the increasingly competitive money transfer market in Burkina Faso and in the sub-region with the same desire displayed from the first contacts with Mr. Khabore Jules Kader.

Source: Burkina Information Agency