Burkina Faso has created the Société viticole du Burkina (SOVIB) to turn local production into wine. Adopted on 22 October by the Council of Ministers, the decision provides for a mixed-economy company with a public majority, according to the Government Information Service.
To develop this activity, SOVIB must build an industrial plant in Bobo-Dioulasso, at an estimated cost of 9.887 billion CFA francs. The government also expects the project to create hundreds of jobs.
Separate from this industrial investment, the company's starting capital is set at one billion CFA francs. It is to be divided between the State, with 45%, BRAFASO, with 10%, and the Burkinabè private sector, which will hold 45%.