Bloomberg News

Sofitex of Burkina Faso Gets $151 Million for Cotton Crop

January 20, 2012

Jan. 20 (Bloomberg) -- Societes Burkinabe des Fibres Textiles, the biggest cotton company in Burkina Faso, got 77 billion CFA francs ($151 million) to finance crop purchases in the 2011-2012 harvest, said Chief Executive Officer Jean Paul Sawadogo.

Ten local lenders, including the Burkinabe unit of Ecobank Transnational Inc., are among the funders, he told reporters today in Ouagadougou, the capital.

To contact the reporter on this story: Simon Gongo in Ouagadougou at sgongo@bloomberg.net

To contact the editor responsible for this story: Emily Bowers at ebowers1@bloomberg.net


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