Andrew
Business Reporter
Puma Energy Zimbabwe, one of the country’s largest petroleum products retailers, is rolling out an ambitious expansion programme that will see it building at least 30 new fuel stations across the country over the next five years at a cost of US$35 million.
The company, which does retail and business-to-business operations, currently runs 71 service station sites across Zimbabwe and will be adding seven new sites this year, including a similar number each year for the next five years.
With the company set to open its newest retail site at the newly commissioned US$20 million Highland Park Mall in about 14 days, the company indicated it was on track to deliver six more this year and then work towards its target.
Puma Energy Zimbabwe general manager Mr Daniel Duffau said: “We are planning to grow our brand in the country, and with 71 service stations currently, we are looking at increasing them by adding seven new ones each year for the next five years.”
The company, Mr Duffau said, would require approximately US$1 million to construct a modern service station and has committed to continue investing in the country with a view to contribute to the success story of the economy, which grew by 7,8 percent last year.
“We believe in Zimbabwe and as an international company, we want to invest in Zimbabwe by giving the country new products such as Liquefied Petroleum Gas (LPG) and Liquefied Natural Gas (LNG).”
Zimbabwe’s fuel consumption increased to almost 1,2 billion litres during the 11 months to November last year, compared to just over one billion litres in 2020, data from the energy regulator Zera showed recently.
Puma also seeks to provide new energy solutions such as solar and other energy types to reduce the burden on the national grid.
The petroleum products supplier is targeting mining, agriculture and medical companies with its LNG supplies.
It presently accounts for 20 percent of the overall local petroleum products market, with 25 percent of the operations concentrated in the retail space and 15 percent in the business-to-business division.
Mr Duffau added:
“In terms of business-to-business, we are looking at growing our aviation supply as we currently supply four local and international airports in Zimbabwe, mainly Victoria Falls, Charles Prince, Harare and Bulawayo airports.”
The company indicated it will not hesitate to expand its footprint in the country, including airports such as Buffalo Range, to support tourism, one of Zimbabwe’s most strategic economic sectors.
Puma also has a lubricant division under which it manufactures Puma Lubricants brands in South Africa for distribution in the Southern African region.
“Puma has its own brand of lubricants that it supplies its customers with. They are manufactured in South Africa for the region, and, as Puma Zimbabwe, we are working on a strategy to increase the availability of the lubricants as well as work on gaining market locally.”
It targets to increase sales of lubricants at a ratio of one litre of lubricant per every hundred litres of fuel sold.
Puma, which is a global integrated midstream and downstream oil company active in over 49 countries, directly employs 330 people in Zimbabwe and indirectly employs over 800 people.
It entered the local market at the end of 2013 after acquiring a 60 percent equity in Redan Petroleum and Sakunda Holdings.
Formed in 1997 in Central America, it has since expanded its activities worldwide and achieved rapid growth, diversification and product line development.
Economist Mr Tinevimbo Shava said it was a welcome development for towns and cities further from Harare to have a reliable and reputable fuel supplier.
“Smaller towns are usually associated with poor supply of fuel as service providers in those areas are not consistent,” he said.
He added Puma’s expansion was likely to create more jobs in the economy over the next five years.
Online Reporter