Burkina Faso's cotton industry is one of the most organized in West Africa. In that industry which provides income for the majority of households, operations such as buying and ginning are managed by the private sector.
In Burkina Faso the government decided on Wednesday (June 7), to renew the memorandum of understanding guiding the cooperation between private cotton companies (Sofitex, Faso Coton, and Socoma), the National Union of Cooperative Societies of Cotton Producers of Burkina and the Burkina Cotton Interprofessional Association (AICB).
This agreement, established in 2004 when the cotton sector was being liberalized, gives private companies a monopoly on cotton purchases in their areas of operation over a given period. In return, they are required to meet a number of commitments. These include the delivery of quality inputs to producer associations on credit, offering advisory support to farmers, and collecting and buying seed cotton at the floor price. According to authorities, the previous memorandum, signed on July 2, 2014, was due to expire during the 2022/2023 cotton season.
The new agreement lowers the zone concession period from 10 to five cotton seasons. It also allows the government to modify the concession area at any time, if necessary, to create new production zones.
During the 2022/2023 season, the country produced almost 412,000 tons of cotton. Though it was the second African supplier of the commodity, behind Benin, its production that season was down from the 518,545 tons posted for the previous season.
Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...
Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...
• BOAD releases CFA10 billion ($17.8 million) to support Boungou and Wahgnion gold mines.• Burkina F...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
The MTN Nigeria Dabengwa Tier 3 Data Centre is more than just a physical infrastructure project — it’s a foundational investment in Nigeria’s digital...
• South Sudan initiates a $58 million, four-year project to transform basic education nationwide.• The program aims to directly benefit over 300,000...
• Cape Verde reclassified as an upper-middle-income country due to a 16.8% rise in GNI per capita.• Namibia downgraded to lower-middle-income after a...
• Ivory Coast grants two new four-year gold exploration permits to Global Industries Sarl and Rampage Exploration Sarl.• National gold production reached...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...