🇧🇫Burkina FasoWest Africa
Russian Ambassador Igor Martynov reviews cooperation between Russia and Burkina Faso
via Lefaso.net10 min read
On Wednesday, April 15, 2026, Russian Ambassador to Burkina Faso, Igor Martynov, met with media representatives in Ouaga 2000 to discuss bilateral cooperation between Russia and Burkina Faso, as well as multilateral Russia-Africa cooperation. The ambassador highlighted the ongoing implementation of agreements made between Russian President Vladimir Putin and Burkinabe President Ibrahim Traoré in 2023 in Saint Petersburg and in 2025 in Moscow. He noted that after three decades of dormancy, the revitalization of cooperation involves establishing legal and institutional frameworks. Recent bilateral documents signed in February 2026 include an agreement on the foundations of relations, an agreement to create a Russian-Burkinabe intergovernmental commission for trade, economic, scientific, and technical cooperation, and memorandums on cooperation in science, scientific and technical activities, innovation, and higher education. The first meeting of the intergovernmental commission is expected this year to approve projects and areas of interaction. Ambassador Martynov also mentioned significant events in 2025, such as President Traoré's visit to Moscow, a Russian delegation's visit to Ouagadougou led by Russian Minister of Energy S.E. Tsivilev, and a Russian humanitarian food aid delivery of 709.5 tons of yellow peas worth 2.5 million US dollars to Burkina Faso. Military-technical cooperation is ongoing, with Burkinabe partners interested in expanding this area. In the energy secto
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Bridge Bank Group Côte d’Ivoire BBGCI announced its listing on the Bourse Régionale des Valeurs Mobilières BRVM during a press conference in Ouagadougou on July 16, 2026. The operation involves selling 20% of the bank's capital, equating to 10 million shares, for a total of 67.5 billion CFA francs. The indicative share price is set at 6,750 CFA francs. The subscription period for both individual and institutional investors runs from July 20 to August 6, 2026, with the first listing on the BRVM expected in September 2026. Bridge Securities, BBGCI's brokerage subsidiary, will assist subscribers. This initial public offering aims to finance the group's growth and is not a divestment by historical shareholders. The financial holding company Bridge Group West Africa BGWA will retain a majority stake of 52.7% post-IPO. The funds raised will strengthen the holding company's equity and support the group's strategic plan for 2026-2030, which focuses on regional expansion, enhanced financing for Small and Medium-sized Enterprises SMEs, and accelerated digital transformation. BBGCI, present in Côte d’Ivoire since 2006 and Senegal since 2021, plans to enter the Burkinabe market and establish a presence in Guinea from 2027. The bank also emphasizes its digital transformation efforts, including a successful core banking system migration in March 2025. The decision to go public is supported by strong financial performance, with a net profit of 27.2 billion CFA francs in 2025, a 19% increase
Captain Ibrahim Traoré, head of state, addressed the people of the Yaadga region to clarify the current situation in Burkina Faso, distinguishing it from the 1987 events that led to a change in power. Traoré stated that the context of his accession to leadership is "completely different" from 1987. He emphasized that he was not imprisoned and then brought to power by someone else, unlike the situation with Blaise Compaoré and Thomas Sankara. Traoré highlighted his direct involvement in the operations that led to the regime change, stating he was at the forefront with his men and was the "first victim" when the 14-5 cannon fired, being less than 100 meters away. He firmly rejected any notion of being a "number 1" or "number 2," asserting, "There are not two captains on a boat." Traoré also warned against communications that could create misunderstandings or difficulties among his associates, stating that those who create such problems will bear the consequences. He concluded by outlining his clear line of conduct for all collaborators, emphasizing that everyone must follow the mission, and he will not tolerate any deviation.
Bridge Bank Group Côte d'Ivoire BBGCI will open subscriptions for its initial public offering on the Bourse Régionale des Valeurs Mobilières BRVM on July 20, 2026. The operation aims to raise 67.5 billion FCFA and will be accessible to individual and institutional investors across the eight UEMOA countries. This offering, approved by the Autorité des Marchés Financiers de l'Union Monétaire Ouest-Africaine AMF-UMOA, involves 20% of the bank's capital, with shares priced at 6,750 FCFA each. The subscription period runs from July 20 to August 6, 2026, with a possibility of early closure. Share settlement and delivery are scheduled for August 21, and the first listing on the BRVM is expected on September 14, 2026. In 2025, BBGCI reported a net profit of 27.2 billion FCFA, a 19% increase, and a net banking income of 68 billion FCFA, up by 15%. Its total balance sheet exceeded 1,427 billion FCFA. The funds raised will strengthen the group's equity, support SME financing, advance its digital transformation, and facilitate regional expansion. BBGCI has already secured authorization to open a branch in Burkina Faso, with plans for establishments in Senegal and Guinea. Investors interested in subscribing must open a securities account with a BRVM-approved asset management and intermediation company SGI and place an order during the specified period. They are advised to consult the official prospectus approved by the AMF-UMOA before making any investment decisions.