Company Announcement - Engen, the African energy multinational fuel retailer and provider of convenience services, has invested over $4 million during the past two years to bolster its retail network in Zimbabwe and build on its strong presence in the commercial, industrial and mining sectors in the country.  The investment includes building long-term relationships with high quality retailers, which strengthen the Engen brand in Zimbabwe. It has also seen the company more than double its retail network from 20 operating sites to the current 55 over the past two years. Overall business growth has been a healthy 28% year-on-year over the same period of time.  What Engen Zimbabwe is doing is part of an elaborate strategy to make Engen a brand leader in Zimbabwe. It also serves to demonstrate the company’s confidence in the country’s future.

“We will continue focussing on further growth, building and harnessing the expertise and full potential of all our people, as well as making a significant contribution to the country’s fiscus for the benefit of the Zimbabwean people,” says Cremion Mapfumba, Engen Zimbabwe managing director. Engen Zimbabwe is 51% local while the balance of the shareholding is owned by Engen Petroleum.  This structure provides Engen Zimbabwe with access to world class standards, which benefit its own people and the country.

“While our investment aims to make Engen the leading fuel brand in Zimbabwe as well as develop additional growth opportunities across the downstream industry, it also signals Engen’s confidence in the country’s future success.  “Such level of investment and growth demonstrates not only serious value addition but also underline positive possibilities that manifest when momentum of focus and execution prevails,” adds Mapfumba.

The company is now well positioned for increased growth.  Harnessing the expertise and potential of all its staff will ensure it delivers real value. “Our employees are the lifeblood of the company and key to our success.  With them I am confident Engen will make a real difference in Zimbabwe, with tangible benefits for the local people.  We are proud of Zimbabwe; we are proud of Africa,” Mapfumba says.