Trading crisis in Burkina: “The situation is going from bad to worse” (Victims of trading account freezing)

The association of victims of trading companies provided an update on the progress of their legal case this Saturday, November 19, 2022, in Ouagadougou. 3 years later, according to investors, nothing has progressed and companies still owe around 35 billion (capital, not including returns on investment) to the victims.

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

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

Not to mention those who had taken out loans. There is real desolation and that is why we wanted to let the authorities know about the situation,” explained the president of the association, Moumouni Fabre.

According to him, this situation is due to the fact that no legislative text existed for trading at the time of the events.. “The second cause, 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 vigilant.

What power do we have to overcome this? The State in is at the origin of this crisis since no administrative measure has been taken for the reimbursement of the funds collected at the time of the adoption of the freezing measure”, he described.

For the spokesperson for the people of 3th association age, Roger Barry “The situation is going from bad to worse”. And that’s why 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 justice in 2019.

Abdoul Gani BARRY

Burkina 24



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