ACCRA, Ghana (XOL Africa) — Ghanaian energy company Genser Energy has completed the redemption of the entire stake held by Oppenheimer Partners, ending the investment firm’s five-year involvement in the company as Genser positions itself for further expansion across West Africa.
Genser Energy Investments LLC said July 30 that it had redeemed the full shareholding previously held by OP Energy Holdings Ltd., which had owned a 40.40% interest in the company after becoming a common shareholder in 2023.
Oppenheimer Partners initially invested in Genser as a preferred shareholder in 2021.
The exit marks a significant change in Genser’s ownership structure as the company continues to pursue investments in power generation, natural gas and midstream infrastructure across the region.
“This transaction marks an important milestone for Genser Energy and reflects the strength of the business we have built over the past two decades,” said Baafour Asiamah Adjei, Genser’s founder, president and CEO.
Founded in 2006, Genser has developed an integrated energy business focused on supplying industrial customers and utilities in West Africa. The company says it has more than 310 megawatts of installed generation capacity and operates a 436-kilometer privately developed natural gas pipeline network in Ghana.
Before Oppenheimer’s investment, Genser had five operating power plants and 325 kilometers of natural gas pipelines.
During the five-year investment period, the company expanded its infrastructure by adding 110 kilometers of natural gas pipelines and constructing a 200 million standard cubic feet per day gas conditioning plant in Prestea.
Genser also expanded beyond Ghana during the period, entering Côte d’Ivoire through cross-border electricity exports.
Nana Osae Nyampong, chairman of Genser Energy, said the company would continue pursuing regional growth.
“As we look ahead, we remain focused on expanding our regional presence and creating long-term value for our customers, communities, employees and shareholders,” Nyampong said.
The shareholder transition also marks an investment shift for Oppenheimer Partners, which said it intends to redeploy capital elsewhere on the continent.
“Oppenheimer Partners’ successful exit of Genser reflects an exciting next chapter for the firm as we remain committed to redeploying capital across the African continent,” said Jonathan Oppenheimer, executive chairman of Oppenheimer Generations.
Genser said it remains focused on developing critical energy infrastructure across West Africa, including a gas conditioning plant and a natural gas liquids export terminal.
The company supplies electricity to industrial customers and utilities in Ghana and participates in cross-border power exports in the region.
The transaction’s financial terms were not disclosed. Genser said it would not comment on behalf of Oppenheimer Partners regarding the shareholder exit.
Oppenheimer Partners is an investment holding company focused on Africa and emerging markets, with investments across industrial, fast-moving consumer goods and services sectors in East, West and Southern Africa.
Genser’s expansion comes as West African economies seek to strengthen electricity supply, develop regional energy infrastructure and attract private investment into power and natural gas projects.
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