Finance

Unending issues for Bolloré in France and Africa

Wednesday, 30 November 2016 16:36

Problems keep raining down on Bolloré, the French transportation and logistics group. After the train derailment in Cameroon involving its subsidiary, the group received multiple complaints in the French media industry, lawsuits in the Conakry port case, amid protests from employees in Cameroon and a slumping turnover.

On December 1, 2016, the Versailles Court will study the Conakry port case and decide if Bolloré had in any manner tried to outrun its rival for the contract, after President Alpha Condé was elected in 2011. The French conglomerate was previously ordered in first sentence to pay Necotrans a €2.1 million.

In Cameroon, an investigation was opened for the train crash involving Camrail, Bolloré’s subsidiary, in which 79 people died and hundreds were injured, in Eseka last October 21. The investigation report is now with President Paul Biya. According to France 24, the accident was caused by a train overload and the lack in maintenance of the break system. Other sources however talk about over-speeding. Waiting for the official version, the families of the victims are meeting with their lawyers to sue Camrail.

Meanwhile, the group’s turnover slumped by 10% in Q3 2016 as its transportation and logistics business – from which it gets more than 55% of its revenues - was negatively affected by the fall in oil prices and slowing international trade.

In addition to these, 25 journalists from the French tv channel i-Télé left the station following a conflict that lasted more than month. Overall, 70 journalists, that is 60% of the channel’s staff should leave because they believe their independence to be threatened under Bolloré’s authority.

On C8, another TV station owned by the group, Cyril Hanouna, Vincent Bolloré’s favorite host, might by sanctioned by the regulatory organ, accused of sexual abuse at the station. The show which has most of the channel’s audience is also threatened to be suspended.

In Abidjan, the Cour commune de justice et d’arbitrage (CCJA) recently ruled in the favor of Burkinabe businessman Pangueba Mohamed Sogli in a commercial conflict with the French group.

Few days ago, Cameroonian employees of the firm’s palm tree and rubber tree plantations went on strike demanding for better working and living standards, estimating that the firms’ they work for make more than enough profits to meet their demands.

Last but not least, on November 19, many associations and non-governmental organizations organized in Paris an “anti-Bolloré march” denouncing the Bolloré’s “social irresponsibility”

On the same topic
Gabon Loisirs et Tourisme acquires Newrest Gabon operations Deal covers 300 employees, nine sites, and industrial catering services Takeover...
PenCom licenses Awabah as the first approved pension agent Move targets informal and self-employed workers under the micro pension scheme Reform aims...
Mali plans to raise CFA1,450 billion on the WAEMU financial market in 2026 Issuance will be spread quarterly through Treasury bills and bonds Regional...
S&P expects loan growth and asset quality to improve across most African markets Strong growth is forecast in Egypt, Morocco, and Nigeria, with a mild...
Most Read
01

Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...

Global Firepower Index 2026: Egypt, Algeria, Nigeria Lead Africa's Military Rankings
02

Oil majors expand offshore exploration from Senegal to Angola Gulf of Guinea accounts for about 1...

Gulf of Guinea regains appeal as a key exploration hub for oil majors
03

Deposits grow 2.7%, supporting lending recovery Average loan sizes small, credit risk persists ...

Togo Microfinance: Deposits and Loans Rise Simultaneously in Q3 2025
04

Visit scheduled from February 4 to 6, 2026, at the invitation of President Hakainde Hichilema Tal...

Ghana’s president to visit Zambia to deepen economic and trade cooperation
05

The BCEAO granted Semoa a level-3 “full service” payment institution license on January 27, 2026...

Togolese Fintech Semoa Wins Full-Service BCEAO License
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.