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Engen invests US$4 million in Zimbabwe
19/10/2014 00:00:00
by Business Reporter
 
Engen has invested $4 million to bolster its network in Zimbabwe
 
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ENGEN, the African energy multinational fuel retailer and provider of convenience services, has invested over US$4 million during the past two years to bolster its retail network in Zimbabwe and build on its strong presence in the commercial, industrial and mining sectors in the country.

The investment includes building long-term relationships with high quality retailers which strengthen the Engen brand in Zimbabwe. It has also seen the company more than double its retail network from 20 operating sites to the current 55 over the past two years.

Overall business growth has been a healthy 28 percent year-on-year during the same period of time. What Engen Zimbabwe is doing is part of an elaborate strategy to make the Engen brand leader in Zimbabwe as well as demonstrating the company's confidence in the country's future.

"We shall continue focusing on further growth, building and harnessing the expertise and full potential of all our people as well as making a significant contribution to the country's fiscus for the benefit of the Zimbabwe people," said Engen Zimbabwe managing director Cremion Mapfumba.

Engen Zimbabwe is 51 percent local while the balance of the shareholding is owned by Engen Petroleum. This structure provides Engen Zimbabwe with access to world calls standard which benefits its own people and the country.

"While our investment aims to make Engen the leading fuel brand in Zimbabwe as well as develop additional growth opportunities across the downstream industry, it also signals Engen's confidence in the country's future success," he said.

"Such level of investment and growth demonstrates not only serious value addition but also underline positive possibilities that manifest when momentum of focus and execution prevail," Mapfumba said.

The company is now well positioned for increased growth. Harnessing the expertise and potential of all its staff will ensure it delivers real value.

"Our employees are the lifeblood of the company and key to our success. With them I am confident Engen will make a real difference of the country and significant contribution to the country's fiscus for the benefit of the Zimbabwean people. We are proud of Zimbabwe, we are proud of Africa," Mapfumba said.

The investments are in line with Engen's objectives to be the oil company of choice in Sub-Saharan Africa and the Indian Ocean Islands by 2016. The company currently operates in 18 countries and also has supplier distributors' arrangements in a number of others.



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"Engen combines a proud record of operational excellence and dynamism with a strong commitment to the economies, communities and environments in which it operates. As such we are confident that our involvement will contribute meaningfully to the Zimbabwean economy," said Mapfumba.

In addition to creating a number of entrepreneurial opportunities and downstream employments to hundreds of Zimbabweans, Engen is introducing a number of innovative products and service to Zimbabwe.

Among these is the introduction of Engen Diesel 50,a high quality diesel product that contains significantly less sulphur than the standard diesel found on the market. Vehicles running on Diesel 50 have reduced exhaust emissions and sot formation –making it more environmentally friendly.

"We are excited to be the first company in Zimbabwe to offer this environmentally friendly diesel on a significant scale," he said.

While Engen Diesel 50 is now already available at selected Engen service stations, Mpfumba says Engen site and selected stockists are also offering Engen Dieselube 700 Super and Degreaser EF among others.

The Deselube 700 Super is a technologically advanced high performance multi-grade lubricant designed for the unique conditions of Southern Africa


 
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