Oil & Gas

Tanzanian billionaire Edha Nahdi’s Amsons Group has acquired Geneva-based Oryx Energies’ Tanzanian fuel business for approximately $230 million. The deal includes storage terminals, filling stations and a 50% stake in Tanzania International Petroleum Reserves Ltd. (TIPER), a major fuel depot in Dar es Salaam. The acquisition will increase Amsons’ storage capacity from 300,000 to 800,000 metric tons and expand its retail network to approximately 300 stations.

Amsons Managing Director Nahdi said the acquisition would strengthen Tanzania’s fuel security and establish the country as a regional logistics hub. Oryx CEO Moussa Diao described the sale as part of the company’s strategy to optimize its African portfolio. The transaction follows a management buyout valuing Oryx at approximately $1 billion.

Founded in 2006, Amsons has expanded into petroleum, cement, logistics and other industries across East and Southern Africa. Its previous acquisitions include Tanzania’s Mbeya Cement and Kenya’s Bamburi Cement. The group has also announced a $900 million agreement to develop power projects in Zambia with a capacity of up to 1,300 megawatts.

Oryx has been a major Tanzanian supplier of fuel, lubricants and cooking gas. The acquisition strengthens Amsons’ presence at Dar es Salaam, a key fuel distribution gateway for neighbouring countries, including Zambia, Malawi, Burundi and eastern Democratic Republic of Congo.