Burkina Faso: AIIM buys 22% stake in Sodigaz
Wednesday, 01 September 2021 18:02
African Infrastructure Investment Managers AIIM announced it has acquired a 22% minority stake for an undisclosed amount in Sodigaz APC, a Burkinabe family-owned group that distributes gas cylinders. The seller is the Amethis group.
AIIM manages and develops funds dedicated to infrastructure projects in 19 countries in East, West, and Southern Africa. The fund manager wants, through this acquisition, to strengthen its position in the West African energy sector.
"Sodigaz is a local leader in the distribution of gas cylinders, and we look forward to working with Ms. Bolly and her team to expand operations across West Africa, diversify products and provide sustainable energy in the region," said Patrick Kouamé, investment director at AIIM.
Amethis exited the Burkinabe group’s capital after four years of partnership during which the company helped Sodigaz consolidate its leadership in the gas market in Burkina Faso. Currently, Sodigaz controls about 60% of the gas cylinder distribution market in the country.
Chamberline Moko
Live News
-
Cameroon’s Public Works Ministry Moves Into New HQ, but Contractors Still Await Payment
20:04
-
China Will Not Seek Reciprocity in Trade Pact With South Africa
19:34
-
Coris Holding Targets Gabon in Central Africa Expansion
19:31
-
Dakar Targets Freight Shift as Rail Rehabilitation Reaches 90%
19:27
-
Madagascar Launches Subsidized Sale of 664,000 Digital Devices
17:31
-
Ivory Coast Launches Online Platform for Renewable Energy Tax Exemptions
17:13
-
Brahim Moussa Hassane Launches Digital Wallet Platform in Chad
17:09
-
Dady Emmanuel Ulrich Ismael Redefines Cross-Border Cash Flow with PAL
17:06
-
Togo Launches Review of Aquaculture Legislation
14:48
-
Togo, Turkey Eye Direct Lomé-Mersin Logistics Corridor
14:35
ECOWAS central bank governors reaffirm a 2027 target for launching the Eco. Nigeria signals...
South Africa led with 35% of total deal value, ahead of Kenya and Egypt Inbound deal value ro...
Investigation targets alleged breaches of Nigeria’s 2023 data protection law Platform processes p...
The main point of contention between Niamey and France’s Orano concerns the uranium stock extracted ...
China’s initiative aims to address the imbalances that have long characterised bilateral trade relat...
Cameroon’s Ministry of Public Works (Mintp) says its new headquarters in Yaoundé’s administrative district is fully operational and occupied by all...
China will grant duty-free access to South African goods without requiring reciprocal tariff cuts. Pretoria and Beijing signed the CAEPA framework on...
Authorities have completed about 90% of rehabilitation works on the Dakar–Tambacounda railway line. The government aims to shift freight traffic from...
Tullow Oil refinanced $1.3 billion in debt with Glencore and bondholders, extending maturities to November 2028. The company secured extensions...
Located about 500 kilometers southwest of Cairo, between the oases of Bahariya and Farafra, the White Desert stands out as one of Egypt’s most distinctive...
The University of Lomé on Wednesday opened a fossil and rock exhibition hall showcasing specimens from the country’s coastal sedimentary basin. Led by the...