Nasan Energies approved to acquire 52 fuel service stations

Nasan Energies (Pty) Ltd has received approval to acquire 52 Engen and Shell-branded fuel service stations across Namibia from Vivo Energy Namibia.

Millennium Falcon Investments, owned by Miguel Hamutenya, holds a controlling 70% stake in Nasan Energies, while the remaining 30% is owned by Tobico Holdings, a family-owned company comprising Kathy Tobias and her sons, Sean and Shiraz Tobias.

The approval follows a stakeholder conference convened by the Namibia Competition Commission, where members of the public and industry participants engaged on the proposed transaction. The process concluded with support for the acquisition.

The deal forms part of Vivo Energy’s divestment of selected retail assets following its 2024 acquisition of Engen Limited from Petronas, which included Engen Namibia’s operations.

Managing Director Jean-Blaise Ollomo said the company will now move to implement the transaction.

“We are pleased about the outcome and remain committed to upholding international operational standards while meeting public expectations. The next steps will involve engaging with dealers and stakeholders to finalise implementation,” Ollomo said.

Co-founder Miguel Hamutenya confirmed that rebranding of the acquired service stations will begin at the end of March.

“We have invested heavily in this acquisition and have been awaiting confirmation from the Namibia Competition Commission to proceed. We look forward to maintaining service standards while increasing participation of local suppliers and service providers,” Hamutenya said.

The transaction will position Nasan Energies as the third-largest fuel retailer in Namibia, behind Vivo Energy and Puma Energy.

The company said the acquisition forms part of its strategy to expand its footprint in a market historically dominated by multinational operators, with a focus on local participation, service delivery and operational growth.

Nasan Energies is among the first privately owned local oil marketing companies in Namibia to scale operations to this level, signalling increased domestic participation in the downstream petroleum sector.

The company is expected to engage dealers and stakeholders in the coming weeks as it moves to integrate the acquired sites into its network.

According to details of the transaction, it includes certain operating businesses and related assets from Vivo/Engen Media Limited and Engen Media Pty Ltd, comprising 52 service stations: 18 company-owned, eight leased and 26 dealer-owned sites.

Following the acquisition, Nasan Energies will operate 73 of Namibia’s 266 fuel stations