Nasan Energies Namibia (Pty) Ltd has announced an agreement with Vivo Energy Namibia to acquire 53 Engen and Shell-branded service stations.
The deal, which remains subject to approval by the Namibian Competition Commission, follows Vivo Energy’s purchase of Engen Limited from Petronas in May 2024, which included Engen Namibia.
As part of that process, the competition regulator required Vivo Energy to divest a number of service stations to maintain market fairness.
After what the parties described as a rigorous evaluation process, Nasan Energies emerged as the preferred bidder.
Vivo Energy Namibia’s Managing Director, Jaco van Rensburg, said the agreement fulfilled regulatory obligations while also offering certainty to partners.
“We are pleased to have reached this agreement with Nasan Energies, which not only fulfils the regulatory requirements to maintain the competitive landscape of oil marketing companies in Namibia, but also provides clarity for dealers and partners. We look forward to working closely with Nasan Energies to ensure a smooth transition as we work to complete the transaction,” Van Rensburg said.
Nasan Energies co-founder Miguel Hamutenya said the company’s establishment was in line with government’s appeal for greater local participation.
“We do not work in isolation, but towards government’s appeal for locals to take ownership of Namibian resources and drive job creation. Nasan Energies will emerge as one of the first locally owned major oil marketing companies in Namibia. The transaction will elevate Nasan Energies to become a leading player in Namibia’s retail fuel market, reshaping an industry traditionally dominated by multinational operators,” he said.
Co-founder Shiraz Tobias emphasised the company’s Namibian identity, noting that its name reflects both its roots and values.
“The name ‘Nasan’ is derived from ‘Na’ for Namibia – where the company is headquartered – and ‘San’ from the Khoisan, considered to be one of the oldest cultures in the world. The Khoisan are renowned for resilience and adaptability in some of the world’s harshest climates, of which these traits are at the heart of Nasan Energies’ ethos – to be dynamic, adaptable and resilient in the competitive energy sector,” he said.
Another co-founder, Sean Tobias, said the leadership team had extensive downstream oil, gas, retail and distribution experience, supported by senior advisor Jean-Blaise Ollomo, a veteran with 30 years of experience in the petroleum sector. He added: “It is up to Namibians to support locally owned entities, to ensure that Namibians remain employed and take the lead.”
If approved, the acquisition will make Nasan Energies the third-largest operator in Namibia’s retail fuel market by number of sites, behind Vivo Energy and Puma Energy.
