Puma Energy Namibia says it has partnered with OK Stores to open 12 new OK Express stores at some of its service stations spread across the country this year, with an additional 10 new stores planned for next year.
“We had the outlets already and have now decided to go to the next step and we think OK Express is a good brand. It will be a good partner in terms of pricing and it positions us well in the market. Its also a partner of quality to go with. This year we plan to have 12 OK Express stores and next year 10,” Puma Energy Managing Director, Gallo Diack said.
He said the fuel company was opening 5 new service stations before the end of the year, “We have 61 stations in Namibia and have 5 more to come very soon.”
This comes as the company launched a new range of lubricants, which Diack said , “ we decided to start with Castrol as it was a well known brand, but after 10 years, we now believe we can fly by ourselves and launch our own, because our brand is now well known in Namibia and Southern Africa. Its also part of our customer value proposition and we decided to add an extra product to our portfolio.”
Competition
Diack said the recent entry of Namcor in the country’s fuel retail sector was of concern to the business, but the company is well positioned to fend off the competition.
“Of course, competition is concerning, also it helps, but we have our strategy. We welcome the competition. It helps us prove that we have a good brand and good quality services.,” he said.
COVID-19 impact
The Puma MD said despite the negative effect of COVID-19 on the domestic economy, the company was still moving ahead with its other planned investments in the country.
“We believe in Namibia as an economy and as a country. We know that we going through tough times, we believe it’s the right time to invest because we know soon or later this pandemic will disappear. We cannot stay with arms crossed doing nothing and this is an ideal moment to invest and be prepared for the future because we know this country is going to grow again and we don’t know when exactly, but we also know that this pandemic will disappear in the next one year or two,” Diack said.
“We have to leave with the pandemic as well. As business people we can’t say we will not invest or doing anything, that’s why we are investing in new shops and are planning massive infrastructure. We are investing in our depots in Walvis Bay because we are the biggest fuel importer in this country. Its a lot of investment we are making despite the pandemic. I can’t disclose the figures but our investments run into millions of dollars.”
