Vivo Energy Group, a leading pan-African retailer and distributor of fuels and lubricants, says its aggressive growth strategy has resulted in an increased geographical footprint and diversified its business operations, according to its CEO Stan Mittelman.
Mittelman made these remarks during the reopening of the revamped South Gate Shell Service Station in Windhoek.
The upgraded station, which now features an array of new services, including a Fresh Stop convenience store, Seattle Coffee outlet, and KFC restaurant, exemplifies Vivo Energy’s commitment to providing enhanced customer experiences.
“We are currently in the process of finalising the acquisition of Engen in South Africa and Namibia, as well as in other key markets,” Mittelman said.
“This acquisition will significantly increase our presence and diversify our activities, further solidifying our position as a leading player in the African energy sector.”
Vivo Energy’s growth strategy also includes expanding its liquefied petroleum gas (LPG) business through the recent acquisition of Gas It Namibia.
“This acquisition marks our first venture into the LPG sector, demonstrating our commitment to diversifying our product offerings and meeting the growing demand for clean energy solutions,” Mittelman explained.
In addition to these acquisitions, Vivo Energy plans to construct an average of 140 to 150 new service stations per year, including a number in Namibia. The company currently operates 74 service stations in Namibia with a fuel storage capacity of 7,718 cubic metres.
The proposed Engen acquisition will create a combined group with over 3,900 service stations and more than two billion litres of storage capacity across 27 African countries. Engen has approximately 1,300 service stations across seven African countries.
Vivo Energy Group, with its extensive network of over 2,600 service stations in 23 African countries operating under the Shell and Engen brands, is committed to providing high-quality fuels and lubricants to its customers while continuously expanding its reach and diversifying its business portfolio.