Home News Finance Coly Energy Acquires French-Owned TotalEnergies in Mali
FinanceNews

Coly Energy Acquires French-Owned TotalEnergies in Mali

1.2k

Coly Énergie Mali, an energy company, has taken over TotalEnergies’ operations in Mali. The terms of this acquisition ensure that all 1,109 employees of TotalEnergies will keep their jobs.

On Thursday, January 23, a delegation from Coly Énergie, headed by the newly appointed Chairman of the Board, René Hounsinou, met with Malian Prime Minister General Abdoulaye Maïga. They presented the company’s new leadership and assured the government of continued operations without disruptions.

Coly Énergie, in partnership with Benin Petro SA, is expanding its activities to Benin and Côte d’Ivoire. The company plans to strengthen the supply and distribution of petroleum products in West Africa.

The government welcomed the takeover as an important step for the energy sector in Mali. Officials said the move could improve the energy market and create more opportunities for the country. Mali’s Prime Minister reaffirmed his support for this acquisition and stated that it aligns with the vision of President Assimi Goita.

TotalEnergies, a French company, has been in Mali for over 60 years, working in oil, gas, and, more recently, renewable energy through its affiliate, Total Eren. The recent sale of its assets to a group of local investors is a big step for Mali’s energy sector, as it aims to bring technological innovations and significant investments to modernise Mali’s energy sector. The Malian government has praised the partnership, saying it will help protect jobs and support the country’s economy.

Read More:

About The Author

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

News

Uganda’s Ruling Party Backs 80-Year-Old President Museveni for Seventh Term in 2026 Election

Uganda’s President Yoweri Museveni has been confirmed as the presidential candidate of...

FinanceNews

Trump Threatens Extra 10% Tariffs on BRICS Supporters – Nigeria and Other West African Countries Could be Affected

United States President Donald Trump has threatened to impose an additional 10...

NewsSports

Mali Host Inaugural CSS Games, Welcomed Over 500 Athletes from Member States

The President of Mali, Colonel Assimi Goïta, welcomed the ambassadors of the...

Tinubu bad governance protest
FinanceOpinion

Tinubu’s Economic Policies Are Reducing Hardworking Nigerians to Beggars

From the streets to offices, restaurants, banks, hospitals, and hotels across Nigeria,...