M a r k e t N e w s
Engen s Boosts Zimbabwe Downstream Ops
Posted on : Friday , 14th November 2014
Engen has invested over $4 million during the past two years to bolster its retail network in Zimbabwe and build on its strong presence in the commercial, industrial and mining sectors in the country. The company more than doubled its retail network from 20 operating sites to the current 55 over the past two years.
The company’s investment included building long-term relationships with high quality retailers, which strengthen the Engen brand in Zimbabwe.
Overall business growth has been a healthy 28% year-on-year over the same period of time. What Engen Zimbabwe is doing is part of an
“We will continue focussing on further growth, building and harnessing the expertise and full potential of all our people, as well as making a significant contribution to the country’s fiscus for the benefit of the Zimbabwean people,” says Cremion Mapfumba, Engen Zimbabwe managing director.
Engen Zimbabwe is 51% local while the balance of the shareholding is owned by Engen Petroleum.
“Engen combines a proud record of operational excellence and dynamism with a strong commitment to the economies, communities and environments in which it operates. As such we are confident that our involvement will contribute meaningfully to the Zimbabwean economy,” says Mapfumba. In addition to creating a number of entrepreneurial opportunities and downstream employment to hundreds of Zimbabweans, Engen is introducing a number of innovative products and services to Zimbabwe including Diesel 50, a high quality diesel product that contains significantly less sulphur than the standard diesel found on the market.
Source : petroleum africa
