Engie and Finatech Group, a subsidiary of the FinanceCom group, have finalised the creation of a joint venture for energy services across African markets
Being named as Engie Finatech Services SA, the new entity will mainly be involved in industrial and tertiary electrical installation work, public lighting and telecommunications networks and infrastructure.
By setting up Engie Finatech Services, the two companies are set to leverage their complementarities and synergies to develop and enrich their service offering across African continent.
Amine Homman, regional manager of Engie North Africa, said, “The creation of Engie Finatech Services is the realisation of a partnership launched several years ago that encapsulates the will of both groups to offer the energy services market a competitive offering fit for the energy transition.”
Abdou Bensouda, CEO of Finatech Group, added, “By combining Engie’s global expertise with Finatech Group’s know-how, we aim to offer innovative and competitive solutions to our customers in the domains of electrical infrastructure, smart buildings and smart cities.”
Jointly controlled by both parties, ENGIE Finatech Services is a limited company under Moroccan law, with Engie having a share of 49 per cent and Finatech Group 51 per cent.
According to Engie, the collaboration comes in line with the company’s strategy to expand its services on the African continent.
As a major player in renewable energies, energy efficiency and smart cities, Engie is active in Morocco. Engie is also developing new wind and solar energy and natural gas projects in the region.
