Nasan Energies (Pty) Ltd has received regulatory approval to acquire 52 Engen and Shell-branded fuel service stations from Vivo Energy Namibia, marking a significant shift in the country’s downstream petroleum sector.
The approval, granted by the Namibia Competition Commission following a stakeholder engagement process, clears the way for the transfer of a substantial portion of Vivo Energy’s retail network.
The assets form part of Vivo Energy’s divestment programme after its 2024 acquisition of Engen Limited from Petronas, which included Engen’s operations in Namibia.
The transaction includes 52 service stations made up of 18 company-owned sites, eight leased outlets and 26 dealer-owned locations.
Following completion, Nasan Energies will operate 73 of Namibia’s approximately 266 fuel stations, positioning it as the third-largest fuel retailer in the country behind Vivo Energy and Puma Energy.
The company is majority-owned by Millennium Falcon Investments, controlled by Miguel Hamutenya with a 70% stake, while the remaining 30% is held by Tobico Holdings.
Managing Director Jean-Blaise Ollomo said the company will proceed with implementation following the approval.
“We are pleased about the outcome and will now engage with dealers and stakeholders to finalise the implementation process,” he said.
Co-founder Miguel Hamutenya confirmed that rebranding of the acquired sites will begin at the end of March.
The acquisition introduces a locally controlled operator at scale into Namibia’s fuel retail market, which has historically been dominated by multinational companies.
Nasan Energies said the transaction forms part of its strategy to expand its footprint, improve service delivery and increase participation of local suppliers within the fuel value chain.
The company is expected to begin integrating the acquired sites into its network in the coming weeks.
