Indeni says plans on to expand into retail petroleum market

Indeni Energy Company Limited, now operating as an Oil Marketing Company (OMC), has announced plans to enter the retail petroleum market by opening filling stations across Zambia as part of its long-term business strategy.

The announcement was made by the company’s Chief Executive Officer, Evans Mauta, during a presentation at the recently concluded Energy Forum for Africa in Lusaka.

In his presentation, Mauta provided an overview of Indeni’s evolving business model, emphasizing the company’s ambition to establish a retail presence in all 10 provinces of Zambia.

He stated, “The opening of service stations is intended to establish a retail presence in all the 10 provinces of Zambia.

“This move aligned with our broader strategy to diversify our operations and solidify Indeni’s role as a key player in the Zambian energy sector.”

Mauta also highlighted the company’s potential business ventures beyond Zambia’s borders.

He mentioned that Indeni was exploring partnerships to supply finished petroleum products to the Democratic Republic of Congo (DRC), which could open new avenues for growth.

“We are looking at potential partnerships to venture into supplying finished petroleum products to the DRC, a move that could significantly enhance our market reach,” he added.

Further, Mauta discussed other prospects under consideration, including forward integration into the retail market, biofuel blending and manufacturing, and Liquidified Petroleum Gas (LPG) retention.

The Chief Executive Officer also mentioned the potential for collaboration with transport and logistics companies, which could foster job creation.

“We see immense opportunities in working with transport and logistics companies, not just to boost our business but also to create employment opportunities,” Mauta said.

Indeni commenced trading at a bulk level in the third quarter of 2023, initially supplying low-sulfur diesel to First Quantum Minerals Ltd.

The company had since scaled up its supply operations and is currently distributing low-sulfur diesel through various OMCs.

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