Bollore group reports 10-billion CFAF loss in Cote d'Ivoire

Paris- France (PANA) -- The Bollore Group has recorded a loss of 10 billion francs CFA in Cote d'Ivoire due to the armed rebellion that broke out on 19 September 2002, Etienne Giros, director of the group's Africa Development unit conceded here Tuesday.
"Concerning our Sitarail subsidiary, we have estimated our losses at about 10 billion CFAF, to which should be added 1,700 layoffs.
The exact assessment of our losses will only be possible in a year's time," said Giros at a meeting of French entrepreneurs working in Africa.
According to one of its officials, the Council of French Investors in Africa (CIAN) is currently assessing losses suffered by the French companies based in Cote d'Ivoire, where they control strategic spheres such as the banking, insurance and transport sectors.
"Some of them have completely stopped activities, while others have slowed down or moved to other countries in the sub region," said CIAN official Pierre Arnaud.
Meanwhile, some French enterprises plan to bring back the families of their expatriate executives who were flown to France or elsewhere in Africa during the fighting in Cote d'Ivoire.
At least 1,000 French companies were operating in the country prior to the crisis.

24 june 2003 22:14:00




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