Nasan Energies has completed the acquisition of 52 Shell and Engen-branded filling stations across Namibia in a transaction valued at approximately $50 million, significantly expanding its presence in the country’s downstream petroleum sector.
The deal elevates the indigenous energy company to the position of Namibia’s third-largest oil marketing company and marks one of the country’s most notable retail fuel acquisitions in recent years.
The acquisition follows the merger of Vivo Energy and Engen, which led to the divestment of selected retail assets. Nasan Energies emerged as the preferred buyer after a competitive bidding process that reportedly attracted more than 50 local and international companies.
According to the company, its financial strength, operational capability and long-term plans for Namibia’s fuel industry were among the factors that influenced its selection.
Founder and Director of Nasan Energies, Miguel Hamutenya, described the acquisition as a milestone for locally owned businesses, saying it demonstrates that African companies have the capacity to own, operate and expand strategic national assets.
He noted that the investment goes beyond expanding the company’s retail network, adding that it reflects confidence in the ability of indigenous enterprises to drive economic growth, create jobs and build sustainable businesses for future generations.
Hamutenya returned to Namibia in 2016 to join his father’s business under Millennium Investments, where fuel retail has become one of the group’s key growth areas. Through its subsidiary, Central Gas Namibia, the company imports, distributes and retails liquefied petroleum gas and previously acquired BP’s LPG assets in the country.
Nasan Energies also disclosed that all its shareholders are below the age of 33, highlighting its youthful leadership and ownership structure.
Looking ahead, the company plans to strengthen its retail operations through investments in digital technology, workforce development, operational efficiency and strategic partnerships. It also intends to explore expansion opportunities beyond Namibia as it seeks to establish itself among Africa’s leading indigenous energy companies.
