adminThe company launched operations in Burundi in the fourth quarter of 2009 after buying Oil Burundi from Engen International, as part of its regional expansion.
KenolKobil said it expanded its footprint in Burundi — whose economy is heavily dependent on agricultural revenues — because the tiny country of eight million is showing signs of steady recovery from the ravages of civil war.
“Apart from expanding into new markets. KenolKobil is keen on strengthening its existing subsidiaries through acquisition of high value assets,” the firm said in a statement.
Bought from Societe d’Importation et de Commercialisation de Produits Petroliers for an undisclosed price, the depot also has a dry goods warehouse and an office complex.
KenolKobil uses the port of Dar es Salaam in Tanzania to supply its operation in Burundi, it said. — Reuters.
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