Burkina Faso’s Legislative Assembly of the People passed a landmark bill on Monday prohibiting the full or partial privatization of strategic state-owned enterprises, reinforcing state oversight and safeguarding national economic sovereignty.
Approved during a plenary session with 70 votes in favor and one abstention, the legislation empowers the state to regulate, control, and monitor essential public entities while reserving the authority to acquire equity stakes in private companies operating within vital sectors.
The new law establishes clear criteria to define strategic entities based on national security requirements, state sovereignty, and broad economic impact, replacing a legacy framework dating back to 1993. Under its provisions, key corporate decisions and transactions involving majority state-owned companies will require prior approval from the Council of Ministers. Furthermore, the act protects public enterprise assets and bank accounts from legal seizure and provides a mechanism to restrict specific strategic economic activities exclusively to Burkinabe nationals.
Industry, Trade, and Handicrafts Minister Serge Gnaniodem Poda noted that the reform aligns directly with the economic and industrial sovereignty agenda pursued by the administration of Captain Ibrahim Traoré. While the specific list of protected companies and detailed classification criteria will be finalized through executive decrees, the government framed the legislation as a vital tool to secure state control over critical infrastructure, resource processing, and long-term national development.
HO/te/Sf/lb/abj/APA