By Shania Lazarus
Copyright namibian
Nasan Energies Namibia has agreed to acquire 53 Vivo Energy service stations, aiming to boost local ownership and strengthen competition in the retail fuel sector.The company is acquiring 53 Engen- and Shell-branded service stations.
The deal is still subject to the approval of the Namibian Competition Commission (NaCC).
The transaction follows Vivo Energy’s 2024 acquisition of Engen Limited from Petronas, which included the Engen Namibia business.Under the conditions set by the NaCC, Vivo Energy was required to sell a number of its service stations to preserve competition in the local market.
According to a statement issued yesterday, Nasan Energies was selected after an evaluation process that considered both technical and financial proposals.
Vivo Energy Namibia managing director Jaco van Rensburg says the agreement was aimed at meeting regulatory conditions while ensuring stability in the sector.
“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,” he says.
He says the company is looking forward to working closely with Nasan Energies to ensure a smooth transition as they work to complete the transaction.
Nasan Energies founder Miguel Hamutenya says the deal is part of broader goals of local ownership.
“We do not work in isolation, but towards the government’s appeal for locals to take ownership of Namibian resources and drive job creation,” he says.
He says 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,” Hamutenya says.
Co-founder Shiraz Tobias says the ‘Na’ in the company’s name stands for ‘Namibia’, where the company is headquartered, and ‘San’ refers to 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. These traits are at the heart of Nasan Energies’ ethos to be dynamic, adaptable and resilient in the competitive energy sector,” he says.
Another co-founder, Sean Tobias, says it is up to Namibians to support locally owned entities to ensure they remain employed and take the lead.
