Energy: French company Engie wants to disengage from Africa

The French energy company Engie, which has a strong presence in Africa in the off-grid and photovoltaic segments, is preparing a series of divestments. Among the actions envisaged, the exit of « a dozen African countries » would be notably envisaged, the group’s management specified during the presentation of the results for the first quarter of 2020 on 12 May. This announcement seems to mark a refocusing of the company on its European bases, after years of expansion abroad. In September 2019, Engie had notably finalised the acquisition of the German company Mobisol, making the French group one of the market leaders in off-grid solar installations on the African continent.