Ouagadougou, Nov. 20, 2025 (AIB) – The government announced Thursday the nationalization of Société nouvelle-CITEC (SN-CITEC), privatized since 1995, following the majority shareholder's desire to withdraw from the capital and sell its shares (53%).

The government "has adopted two decrees, one nationalizing the Société Nouvelle-CITEC and the other approving its specific statutes," the Council of Ministers announced. The Minister of Industry, Serge Gnaniodem Poda, explained that this decision follows the majority shareholder's desire to withdraw from the capital and sell its shares (53%).

"In a context of asserting industrial sovereignty initiated by Burkina Faso under the leadership of Comrade Captain Ibrahim Traoré, President of Faso, Head of State, the government approached the majority shareholder to express its willingness to proceed with the purchase of its shares," the minister indicated.

Faced with a deadlock, the government has decided to nationalize SN-CITEC, a public company privatized in 1995, explains Minister Poda.

SN-CITEC is the leading oilseed company in Burkina Faso, producing edible oil, cottonseed meal, and cottonseed-based animal feed. The processing of cottonseed, cultivated by millions of farmers, adds value to the Burkinabe national economy. The company also produces household soap.