Nasan Energies has acquired 52 Shell and Engen-branded filling stations across Namibia in a deal estimated at $50m, becoming the country’s third-largest oil marketing company.
In a statement, it was stated that the acquisition followed the merger between Vivo Energy and Engen, which created an opportunity for investors to acquire selected retail assets. According to the company, more than 50 local and international firms expressed interest in the portfolio before Nasan Energies emerged as the successful bidder.
The company said it was selected based on its financial capacity, technical expertise, and long-term strategy for Namibia’s downstream petroleum sector.
The transaction is expected to strengthen indigenous participation in Namibia’s downstream oil industry while expanding Nasan Energies’ footprint in the country’s retail fuel market.
The company’s founder and director, Miguel Hamutenya, said the acquisition was aimed at demonstrating the capacity of local firms to own and manage strategic assets.
“This is far more than the acquisition of service stations. This is about proving that indigenous African companies have the expertise, capital, and vision to own and grow strategic national assets. We believe Namibia’s economic future should increasingly be shaped by local entrepreneurs who create lasting value, invest in communities and build businesses that future generations can inherit with pride,” Hamutenya said.
Hamutenya, 33, was said to have returned to Namibia in 2016 to work with his father in building businesses under Millennium Investments, where fuel retail has become a key area of growth. Through its subsidiary, Central Gas Namibia, the group is a bulk importer, distributor, and retailer of liquefied petroleum gas and had previously acquired BP’s LPG assets in the country.
The company said all shareholders of Nasan Energies are under the age of 33.
Looking ahead, Nasan Energies said it would continue investing in its retail network, operational efficiency, digital innovation, workforce development and strategic partnerships while exploring opportunities for regional expansion.
The company added that it aims to position itself among Africa’s leading indigenous energy firms as Namibia pursues industrialisation and inclusive economic development.
