Chariot Limited Narrows Strategy With Exit From Water Ventures, Concentrates On Power Division

Chariot Limited (CHAR.L), the Africa-focused energy operator, has completed the sale of its water business interests as part of a broader strategic realignment toward its core Power division operations. The move reflects management’s commitment to streamline capital deployment across renewable energy ventures and mining-related power infrastructure throughout southern Africa.

The transaction centered on divesting the company’s ownership stake in the Oasis Water Platform, which had been pursuing a proof-of-concept desalination initiative in Djibouti. AquaNexus Holding acquired this asset for $435,000 in cash proceeds, which Chariot intends to allocate toward general corporate requirements and operational needs.

This strategic repositioning aligns with Chariot’s medium-term objectives of prioritizing three key operational pillars: electricity trading and generation capacity development, renewable energy infrastructure projects, and the advancement of Project Nour—a green hydrogen development initiative based in Mauritania. By consolidating resources away from non-core water operations, the company aims to enhance execution focus on these higher-priority energy vectors.

Market reaction to the announcement has been modest, with CHAR.L shares trading at GBP 1.5825 on the London Stock Exchange, reflecting a session gain of GBP 0.0065 or approximately 0.41 percent. The valuation adjustment underscores investor recognition of the strategic clarity the divestment provides for Chariot’s forward trajectory in the African energy sector.