Africa: French group Engie is withdrawing from the continent

By Estelle Maussion
Posted on Friday, 22 April 2022 10:34

The Engie activities that Butec has taken over concern 1,500 employees. © Stephane Mahe/REUTERS

The French group Engie is divesting 17 energy service companies on the continent, which are being taken over by the Lebanese group Butec. However, it remains active in renewable energy.

A page is turning for Engie in Africa. Announced in 2020 and detailed the following year, the French energy group (€57.9bn in turnover in 2021) is now refocusing its efforts in Europe, North America and Latin America, and withdrawing from the continent.

On 14 April, the Lebanese group Butec, which is active in turnkey projects and multi-technical services, announced that the sale of 17 energy services companies*, located in South Africa, Morocco, Nigeria, Côte d’Ivoire and Burkina Faso, had been finalised at the end of March.

A $200m portfolio