Namibia’s downstream fuel sector is entering a new phase of local participation after Nasan Energies (Pty) Ltd secured approval to acquire 52 Engen and Shell-branded service stations from Vivo Energy Namibia in a landmark transaction.
The approval, granted following a public consultation process led by the Namibia Competition Commission, clears the way for one of the largest retail fuel network transfers in recent years and positions Nasan Energies as a major new force in the country’s petroleum market.
The deal follows a stakeholders’ conference that drew more than 100 participants, during which the proposed acquisition of the so-called “divestiture business” was put under public scrutiny.
The outcome was favourable, paving the way for the emergence of what is being positioned as one of Namibia’s first privately owned, locally driven oil marketing companies operating at scale.
Managing director Jean-Blaise Ollomo said the approval marks the culmination of a two-year process aimed at localising ownership in a sector historically dominated by multinational players.
“We are pleased about the outcome and will further remain committed by upholding the international standards of our operations and to far exceed expectations from the public,” Ollomo said. “The next steps will now be to engage with all relevant dealers and stakeholders to finalise implementation.”
In May 2024, Vivo Energy completed its acquisition of Engen Limited from Malaysia’s Petronas, a deal that included Engen Namibia.
As part of competition and market balancing considerations, selected assets were earmarked for divestment, creating the opportunity now seized by Nasan Energies.
Co-founder Miguel Hamutenya indicated that implementation will move swiftly, with visible changes expected across the network in the coming weeks.
“We’ve invested significantly into this acquisition and have been awaiting regulatory clearance to proceed,” Hamutenya said.
“From the end of this month, the public will begin to see aggressive rebranding across the country. We encourage Namibians to be part of this transition and to expect the same trusted service, with stronger emphasis on local suppliers and empowerment of local service providers.”
Once completed, the acquisition will elevate Nasan Energies to Namibia’s third-largest fuel retailer by site count, behind Vivo Energy and Puma Energy.
The shift signals a notable rebalancing of market power, introducing a locally anchored player into a segment long characterised by foreign ownership.
Beyond scale, the company is positioning itself around service delivery, supply chain diversification and local economic participation.
The strategy includes building partnerships with Namibian suppliers and expanding employment opportunities within the retail fuel ecosystem.
Industry observers say the transaction could have broader implications for Namibia’s energy landscape, particularly as the country positions itself within a rapidly evolving regional oil and gas narrative driven by offshore discoveries and infrastructure development.
Nasan Energies, which specialises in the marketing, supply and trading of refined petroleum products, has framed the acquisition as part of a longer-term ambition to build a sustainable, financially disciplined business capable of competing at both national and regional levels.
With implementation now set to begin, attention will shift to how quickly the company can integrate the network, execute its rebranding strategy and translate ownership change into tangible economic impact on the ground.
