Nasan Energies Namibia (Pty) Ltd has reached an agreement with Vivo Energy Namibia to acquire 53 Engen and Shell-branded service stations for an undisclosed amount.
The deal, which is still subject to approval by the Namibian Competition Commission, follows Vivo Energy’s purchase of Engen Limited from Petronas in May 2024, which included the Engen Namibia business.
As part of that process, the regulator required Vivo Energy to divest a number of its sites to preserve competition in the fuel retail market.
Vivo Energy Namibia Managing Director, Jaco van Rensburg, said the agreement not only satisfied regulatory conditions but also brought clarity to partners and dealers.
“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,” he said.
Nasan Energies co-founder Miguel Hamutenya said the transaction positioned the company as one of the first locally owned major oil marketing companies in Namibia.
“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 said the company’s name reflected its Namibian identity.
“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, highlighted the team’s industry experience and the role of its senior advisor. 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 deal will make Nasan Energies the third-largest player in Namibia’s retail fuel market by number of sites, behind Vivo Energy and Puma Energy.
