This is the multimillion deal signed in Mauritius that will affect you … especially if you are driving a guzzler
Nairobi is commonly referred by the investors as the commercial hub in East Africa because of its vibrant economy
This has attracted a lot of investors scouting for mergers and acquisition to deepen their investment portfolio
The country has been able to attract the majority of the incoming acquisition deals due to a stable exchange rate while the economic growth rate of 6.1 per cent is ahead of the sub-Saharan Africa average of 1.4 per cent as of last year.
The recent acquisition has been that of East African Gapco owned by Fortune Oil’s Dhiren Kotak and Reliance’s Mukesh Ambani sold to Total in a multimillion deal in Mauritius today today March 28th 2017.
This acquisition is in line with Total’s growth strategy for the distribution of petroleum products and services in Africa, which aims at expanding in fast-growing regions while maintaining high profitability.
Gapco’s assets in Tanzania, Kenya and Uganda include logistic terminals, 108 fuel stations, and 260,000 kilolitres of storage capacity. Total currently operates a network of more than 4,000 fuel stations in Africa.
Now, how will this acquisition affect the ordinary Kenyan? Total is known for quality petroleum products, now it means the company will grow and open more petrol stations across the country to be accessible to more Kenyans.
