Vivo to invest $250m in Africa including Ghana

New owners of Shell Ghana, Vivo is planning to invest more than $250 million in 16 countries that it operates in Africa within the next three years.

Though it is uncertain how much it will invest in Ghana, the country which is its 4th biggest market will get some sizeable amount of the investments.

Vivo has already opened nine pump stations in the country. It is however maintaining all Shell retail outlets in the country.

CEO of Vivo Group, Christian Chammas said “Ghana is an important market and a growing economy which is set to benefit from significant developments in the energy sector.”

He said “we are acquiring a business with great potential, a long history in Ghana, a high caliber workforce, quality assets and a large and diversified customer base.”

Vivo Energy employs around 2,000 permanent employees and operates 1,300 retail stations under the Shell brand. Vitol, Helious Investment Partners and Shell are the shareholders of Vivo. The shell brand has been in Ghana for 85 years.