A new entrant into Namibia’s fuel landscape is set to become one of the first locally owned major oil marketing companies (OMCs) in the country. Pending regulatory approval, a landmark decision could elevate Nasan Energies Namibia to become a leading player in the country’s retail fuel market, thereby restructuring an industry historically dominated by multinationals.  

The landmark transaction involves Nasan Energies Namibia acquiring 53 Engen and Shell-branded fuel service stations from Vivo Energy Namibia. The acquisition, which is subject to approval by the Namibian Competition Commission, marks a historic moment for Namibia’s energy sector. 

If approved by regulators, Nasan Energies will be the third-largest player in the domestic retail fuel market by number of sites, behind Vivo Energy and Puma Energy, reshaping the industry traditionally dominated by foreign multinational operators. Its core focus is to maintain financial discipline and a strong balance sheet to position sustainable future growth and build brand equity with stakeholders and partners. 

In May 2024, Vivo Energy completed the purchase of Engen Limited from Petronas, which included the Engen Namibia business; however, as part of the regulatory process, the Nambian Competition Commission determined that Vivo Energy would have to sell several of its service stations to uphold a fair and dynamic market. Following a thorough evaluation process that assessed both technical expertise and financial proposals, Nasan Energies was selected as the preferred bidder. 

Vivo Energy Namibia’s Managing Director, Jaco van Rensburg, stated: “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.” 

One of the three founders of Nasan Energies, Miguel Hamutenya, thanked the team for its dedication and commitment: “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 (OMCs) 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 added. 

Co-founder Shiraz Tobias placed emphasis on Nasan’s Namibian heritage: “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 added. 

Sean Tobias, co-founder of Nasan, highlighted that collectively the founders and leadership team bring deep expertise in downstream oil, gas, fuel retail, and distribution. 

Tobias concluded with Nasan’s strategic objectives: “It is up to Namibians to support locally owned entities, to ensure that Namibians remain employed and take the lead.” 

The Vivo Energy Group operates and markets its products in countries across north, west, east, southern Africa and in the Indian Ocean islands. 

The extended group has a network of over 4 000 service stations in 28 markets operating under the Engen and Shell brands and exports lubricants to a number of other African countries. Its retail offering includes fuels, lubricants, card services, convenience stores, restaurants, and other non-fuel services. It provides fuels, lubricants, liquefied petroleum gas (LPG) and chemicals to business customers across a range of sectors including marine, aviation, mining, construction, power, transport, agriculture and manufacturing. The Vivo Energy Group employs around 6 000 people and has access to over 2.1 billion litres of fuel storage capacity.