Pan-African conglomerate Amsons Group has agreed to acquire Geneva-based Oryx Energies’ downstream business in Tanzania for more than US$230 million, expanding its presence in the regional fuel market.
The deal will transfer Oryx Energies’ fuel distribution operations in Tanzania to Amsons Group, including retail service stations, storage terminals and distribution infrastructure, subject to regulatory approvals and other customary conditions.
The acquisition is expected to increase Amsons Group’s fuel storage capacity from 300,000 metric tonnes to 800,000 metric tonnes and expand its retail network to 300 stations across several countries.
The transaction also has implications for Kenya, where Amsons has been expanding its investments in the cement industry through its interests in Bamburi Cement and East African Portland Cement Company (EAPC).
Amsons Group Managing Director Edha Nahdi said the acquisition would strengthen the group’s position in the energy and logistics sectors while supporting Tanzania’s role as a regional distribution hub.
He added that integrating Oryx’s distribution network and storage facilities would strengthen the group’s operations across the region.
“We are delighted to finalise this acquisition, which marks a transformative step in our strategic vision to expand Amsons Group’s footprint in energy and logistics,” Nahdi said.
“Integrating Oryx’s extensive distribution network and storage capabilities allows us to strengthen domestic fuel security and anchor Tanzania as a vital regional logistics hub for East and Central Africa.”
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Amsons Group Expands Regional Fuel Network
The acquisition will give Amsons access to Oryx’s bulk storage terminals, retail stations and equity interests in strategic fuel storage partnerships, including operations at the Tanzania International Petroleum Reserve (TIPER) in Dar es Salaam.
The expanded network is expected to improve the group’s capacity to store and distribute petroleum products across regional markets, including those that rely on transport corridors connecting ports to inland countries.
Oryx Energies Chief Executive Officer Moussa Diao described the transaction as a significant development for the downstream energy sector in East Africa.
“We are pleased to have reached this agreement with Amsons Group, a Tanzanian business with strong roots in the country and a clear ambition for growth,” Diao said.
He said Tanzania had played an important role in Oryx Energies’ history and expressed confidence that the buyer would continue developing the business.
“We believe that Amsons Group is well placed to take this business into its next chapter, building on its existing strengths and creating new opportunities for its employees, customers and partners,” Diao said.
The transaction forms part of Oryx Energies’ ongoing strategic review of its downstream assets in Africa. The company said it would focus its capital and resources on energy infrastructure development and strengthening its trading activities.
Oryx Energies will continue operating in Tanzania as usual while the parties await the necessary regulatory approvals and fulfil the remaining conditions for completion.
About Amsons Group
Founded in Tanzania in 2006, Amsons Group is a family-owned conglomerate with interests in fuel and lubricants, cement manufacturing, logistics, flour milling, liquefied petroleum gas and transportation.
The company says its manufacturing operations include cement production capacity exceeding 15,000 metric tonnes per day, alongside a wheat flour milling plant with a capacity of 500 metric tonnes per day.
Its operations also include inland container depots, fuel depots and a transport fleet serving Tanzania, Zambia, Malawi, Mozambique, the Democratic Republic of Congo and Burundi.
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