Rolls-Royce eyes Africa as new energy market

Bloomberg

Rolls-Royce Holdings Plc is betting on expanding in Africa to grow the power-systems division after its main business building and maintaining wide-body jet engines was derailed by the coronavirus.
The continent’s abundant natural resources, fast-growing economies and increasing urbanisation make it a promising market for the unit, Rolls-Royce Strategic Marketing Director Ben Story said. “We’ve got our eyes open, looking out for opportunities,” he said by phone. “M&A is certainly part of that.”
The bid to grow in Africa comes as Rolls-Royce seeks to pivot away from a focus on aircraft engines, with CEO Warren East saying the company wants revenues to be more evenly split between all of its business segments.