Trade crisis in Burkina: “The situation is going from bad to worse” (victims of trade account freeze)

The Association of Victims of Trafficking provided an update on the progress of their trial on Saturday 19 November 2022 in Ouagadougou. 3 years later, according to the investors, nothing has happened, and the companies still owe around DKK 35 billion (capital, not including return on investment) to the victims.

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A year after having called the authorities on the situation of victims of commercial companies, the association of these victims reiterated this call through an update on their situation. ” The mindset of investors is truly deserted.

They (speaking of the administration, editor’s note) had promised to take care of the victims’ social problems before reimbursement. They didn’t and unfortunately there are people who died in this story. There are families who have seen their child drop out of school due to non-payment of tuition by their parents who had invested their money in the system.

Not to mention those who had taken out loans. It is really deserted, and that is why we wanted to inform the authorities about the situation,” explained the association’s chairman, Moumouni Fabre.

According to him, this situation is due to the fact that at the time of the events, there was no legal text for trading.. “The second reason, it must be said, our justice is too slow. As an example in Burkina Faso here the royal company emptied its accounts, faked its death and left the country and justice was not on duty.

What power do we have to overcome this? The state in is the cause of this crisis, as no administrative action has been taken to repay the funds collected at the time of the adoption of the freezing measure.” he described.

For the spokesperson for the people in 3th The Age of Association, Roger Barry “The situation is going from bad to worse”. And so he started “a call to the new authorities who have chosen to change the paradigm”. In addition to this call, the association threatened to pass “up to speed” if the situation does not change.

As a reminder, this crisis occurred at the level of four trading companies, namely Globumi, Glofas, Royal Finance and Barka Finance, and led to the freezing of their bank accounts by the Burkinabe court in 2019.

Abdoul Gani BARRY

Burkina Faso 24



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