Vivo Energy takes over Shell Ghana Limited

Vivo Energy, distributor and marketer of Shell-branded fuel and lubricant across Africa, has acquired a majority shareholding in Shell Ghana Limited.

The deal was concluded on August 1, said Mr Christian Chammas, Chief Executive Officer of Vivo Energy, on Thursday at a press conference organised in Accra.

He said, with the addition of Ghana to their portfolio, Vivo Energy now operates in 16 countries.

The company, established in 2011 by Vitol, Helios Investment Partners and Shell to distribute and market Shell- branded fuel and lubricant across Africa, is operating in Ghana, Botswana, Burkina Faso, Cape Verde, Cote d’ lvoire, and Guinea.

Including Kenya, Madagascar, Mali, Mauritius, Morocco, Mozambique, Namibia, Senegal, Tunisia and Uganda. According Mr Chammas “Africa is a fast growing continent and our shareholders will invest 250 million dollars over the next three years to take advantage of this growth. Ghana is an important market and a growing economy which is set to benefit from significant developments in the energy sector.”

“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,” he said

He also pledges their commitment to ensure that the business realises its full potential. ‘Our intention is to grow the market and retain their position in the year to come saying this would take time but “we will get there. Already, we planned to open 50 new station sites per year within the three-year period in the 16 countries we operated in.

The Chief Executive Officer said the three main focal priorities- education, road safety and environment, are their Corporate Social Responsibility (CSR) focus for the continent.

He said all CSR projects would be around the three priority areas to enable them have a unified approach.

Managing Director of Vivo Energy Ghana, Mr Fred Osoro, said their commitment to the Shell brand would not change. He added that “for our retail customers; our service stations will continue to be Shell branded and provide high quality products, with highest level of service.

He said the company in Ghana would continue to meet customers’ business needs by ensuring the supply of quality products and by building and maintaining an unrivalled reputation for safety, service excellence and technological leadership.

Shell brand has been operating in Ghana for 85 years, and has been the leading marketer of fuel and lubricant.