Nasan Energies Namibia (Pty) Ltd is set to acquire 53 Engen and Shell-branded service stations from Vivo Energy Namibia in a landmark deal that, if approved, will make it one of the country’s first major privately owned oil marketing companies.
The acquisition, subject to clearance 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 the regulatory process, the commission required Vivo to divest several stations to preserve fair competition in Namibia’s retail fuel sector.
After a rigorous selection process, Nasan Energies emerged as the preferred bidder, backed by both technical expertise and strong financial credentials.
Vivo Energy Namibia’s Managing Director, Jaco van Rensburg, said the transaction met regulatory requirements while offering stability 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,” he said.
Nasan Energies, founded by Miguel Hamutenya, Shiraz Tobias and Sean Tobias, said the transaction aligns with the government’s call for greater local ownership in the energy sector.
“We do not work in isolation, but towards the government’s appeal for locals to take ownership of Namibian resources and drive job creation,” Hamutenya said.
Nasan Energies will emerge as one of the first locally owned major oil marketing companies in Namibia.
The transaction will elevate us to become a leading player in Namibia’s retail fuel market, reshaping an industry traditionally dominated by multinationals.”
The founders emphasised their local identity and cultural roots.
Shiraz Tobias explained: “The name ‘Nasan’ is derived from ‘Na’ for Namibia and ‘San’ from the Khoisan, considered one of the world’s oldest cultures. Their resilience and adaptability in the harshest climates reflect the values at the core of Nasan Energies.”
The company’s leadership team brings decades of downstream petroleum and retail experience, bolstered by senior advisor Jean-Blaise Ollomo, who has more than 30 years in the industry.
Co-founder Sean Tobias underlined the company’s ambitions: “It is up to Namibians to support locally owned entities, to ensure that Namibians remain employed and take the lead.”
