• Short Summary

    The leaders of 11 African countries with joint-ownership in the multinational airline, Air Afrique, have decided to increase their share-holding in the company by negotiating to take-over the stock currently held by two French airlines.

  • Description

    The leaders of 11 African countries with joint-ownership in the multinational airline, Air Afrique, have decided to increase their share-holding in the company by negotiating to take-over the stock currently held by two French airlines.

    A communique issued in Abidjan at the end of the summit meeting of five heads of state and other national representatives, said authorization had been given to the President, M. Felix Houphouet-Boigny of the Ivory Coast, negotiate the end of the french participation.

    The 11 member nations -- the Congo, Ivory Coast, Upper Volta, Dahomey, Gabon, Chad, Niger, Central African Republic, Senegal, Togo and Mauritania -- currently hold 6.54 per cent of Air Afrique's shares.

    A company controlled by the French airlines Air France, and U.T.A., holds 28 per cent of the stock. the agreement under which the airline was created, expires next year.

    Ironically that agreement -- the Treaty of Yaounde -- was concluded in the capital of Cameroon. Cameroon withdrew from the multinational company in 1971.

    The summit also discussed the question of employing more African staff.

    The communique issued at the end of the summit said a new post Vice President would be created to run the company and guidelines were laid down on his function. New guidelines were also decided for the recruitment of African staff.

    Synopsis: At a summit in the Ivory Coast capital, Abidjan the nations authorized host President Falix Houphouet-Boigny to negotiate the end of the French participation.

    President Houphouet-Boigny greeted the arriving national leaders on Sunday. Amongst them was the Head-of-State of ??? Upper Volta, President Sangoule Larizana.

    A large crowd watched the events. Next to arrive was the Vice-President of the Supreme Military Council of Niger, Major Sani Souna Sido.

    Air Afrique's eleven African member nations -- the Congo, Ivory Coast, the Upper Volta, Dahomey, Gabon, Chad, Niger, the Central African Republic, Senegal, Togo and Mauritania -- currently hold six-point-five-four per cent of the airline's shares.

    A company controlled by the French Airlines, Air France and U.T.A., holds twenty-eight per cent of the stock. The agreement under which the airline was formed expires next year. President Omar Bongo of Gabon also attended.

    In a communique issued at the end of the summit, new guidelines were laid down for the recruitment of African staff for the airline.

  • Tags

  • Data

    Film ID:
    VLVA7YOG2MJN8KK4X4M1LSMFD2GFX
    Media URN:
    VLVA7YOG2MJN8KK4X4M1LSMFD2GFX
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    22/07/1975
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:26:00
    Time in/Out:
    /
    Canister:
    N/A

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