Features

ANTANANARIVO, Madagascar, 7 February 2022 – Groupe Filatex, a leading African energy company based in Madagascar, announces the acquisition of 41% in French start-up Energiestro for Euros10million, a pioneer in energy storage through its Flywheel Energy Storage technology. In tandem with this acquisition, Groupe Filatex discloses a strategic partnership with Energiestro to deploy innovative solar storage technology in Madagascar and Mauritius. Founded in 2001, Energiestro has since then developed its innovative Flywheel Energy Storage technology,…

ANTANANARIVO, Madagascar, 07 February 2022 – Groupe Filatex, a leading African energy company based in Madagascar, announces today a major deal with Symbion Power, New York-based Independent Power Producer, operating in the Middle East, Asia and Africa. The agreement entails the acquisition of Symbion Power’s 40MW heavy fuel oil (HFO) power plant in Antananarivo – to be hybridised by Groupe Filatex. The purchase will add 40MW to the Groupe Filatex portfolio, which further enhances its…

LONDON (Capital Markets in Africa) – The crisis engulfing Boris Johnson escalated dramatically after the police began formally investigating allegations he and his staff held parties that broke the government’s pandemic rules. Johnson is battling for his political survival over a slew of reports about events in his Downing Street office, which were held at a time when social gatherings were banned under restrictions meant to curb the spread of coronavirus.  Metropolitan Police Commissioner Cressida…

LAGOS (Capital Markets in Africa) – A growing number of companies invest in Bitcoin but none to the extent of MicroStrategy Inc., which in 2021 announced that buying and holding the volatile digital asset was a core business strategy. The rare prominence of Bitcoin in the enterprise software company’s mission and the size of its holdings put the Tysons Corner, Va.-based business in a class of its own. That distinction led to the SEC singling…

BURKINA FASO (Capital Markets in Africa) – Soldiers in Burkina Faso said they removed President Roch Marc Christian Kabore from power in the gold-producing West African nation, a putsch that drew condemnation from the United Nations and the U.S. The military takeover was necessary because Kabore was unable to tackle insecurity “that threatens the very foundation of our nation,” according to a statement signed by Colonel Paul-Henri Sandaogo Damiba and read by another officer on…

LONDON (Capital Markets in Africa) – The U.K.’s fast-approaching cost-of-living crisis is already making Britons worry about their budgets, setting up a rocky 2022 for households and businesses still reeling from the impact of the pandemic. Many people are particularly worried by both their personal finances and the general economic situation, making them reluctant to splash out on big purchases, according to a closely watched survey of consumer confidence released on Friday. Meanwhile, the arrival of the…