Features

Africa’s energy future at a crossroad  When it comes to building the future of energy in Africa, the decisions facing the continent’s leaders today are nothing less than of historical importance. More than anything else, energy systems are the very fabric of business and society. Countries across Africa want to make good on their objective of building huge amounts of new generation capacity to anticipate on vast increases in energy demand and set the continent…

JOHANNESBURG (Capital Markets in Africa): Pandemic outbreak is the biggest concern for companies in the hospitality, leisure and tourism industry, according to the Allianz Risk Barometer 2022. This risk receives the top ranking after Covid-19 led to large-scale business closures and supply chain disruption globally and brought tourism and aviation industries to an abrupt halt. However, while the pandemic continues to overshadow the economic outlook in this industry, encouragingly, businesses do feel they have adapted well. “When asked how prepared…

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…