Features

LONDON (Capital Markets in Africa) – The invasion of Ukraine is causing a mass exodus of companies from Russia, reversing three decades of investment by Western and other foreign businesses there following the collapse of the Soviet Union in 1991. The list of those cutting ties or reviewing their operations is growing by the hour as foreign governments ratchet up sanctions against Russia, close airspace to its aircraft and lock some banks out of the SWIFT money messaging system. Some companies have concluded…

LAGOS (Capital Markets in Africa) – Solar projects in South Africa’s latest renewable power procurement round may have difficulty reaching financial close due to issues including rising supply chain costs, according to people familiar with the details. Some of the bids are experiencing trouble ahead of a deadline to complete financing arrangements, according to the people who asked not to be identified because the information isn’t public. South Africa’s Department of Mineral Resources and Energy…

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…