{"id":330313,"date":"2026-07-14T03:22:15","date_gmt":"2026-07-14T03:22:15","guid":{"rendered":"https:\/\/www.europesays.com\/africa\/330313\/"},"modified":"2026-07-14T03:22:15","modified_gmt":"2026-07-14T03:22:15","slug":"nasan-energies-acquires-52-retail-service-stations-in-namibia-for-over-r800-million","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/africa\/330313\/","title":{"rendered":"Nasan Energies acquires 52 retail service stations in Namibia for over R800 million"},"content":{"rendered":"

Namibia<\/a>-based Nasan Energies, founded by the CEO of Millennium Investments, has completed the acquisition of 52 Engen and Shell-branded retail service stations across the country in a transaction with an enterprise value of $50 million (about R817m), marking one of the most significant transactions in the country’s downstream petroleum sector.<\/p>\n

The acquisition represents a defining moment for indigenous African ownership w<\/a>ithin a strategic industry and reinforces Namibia’s vision of building a globally competitive economy led by local entrepreneurs, a statement from Nasan said on Monday.<\/p>\n

The acquisition process began in 2023 following the announcement of the Vivo Energy and Engen<\/a> merger, which created an opportunity for strategic investors to acquire selected retail assets. More than 50 local and international companies expressed interest in acquiring the portfolio.<\/p>\n

Following a rigorous and competitive process, Nasan Energies was selected as the successful purchaser based on its proven financial capacity, technical expertise, and long-term strategic vision for Namibia’s energy sector.<\/p>\n

The acquisition transforms Nasan Energies into Namibia’s third-largest oil marketing company and establishes the company as one of Southern Africa’s fastest-growing fuel retailers.<\/p>\n

The company aims to become Namibia’<\/a>s leading oil marketing company over the coming years through continued investment, operational excellence, and customer-focused innovation.<\/p>\n

At the forefront of this transaction is Miguel Hamutenya, a 33-year-old Namibian entrepreneur, Group CEO of Millennium Investments, and founder and director of Nasan Energies.<\/p>\n

Hamutenya holds an honours degree in business administration from BI Norwegian Business School in Oslo, a diploma in corporate finance from the European School of Economics in London, and he is currently pursuing a master’s degree in energy and sustainability.<\/p>\n

Hamutenya returned to Namibia in 2016 to work with his father and contribute to building businesses focused on creating long-term value.<\/p>\n

Since then, he has played a critical role in developing Millennium Investments’ downstream energy interests, with fuel retail becoming a cornerstone of the group’s growth strategy. Through its subsidiary Central Gas Namibia, Millennium Investments Group is the country’s leading bulk importer, distributor, and retailer of liquefied petroleum gas (LPG).<\/p>\n

The company previously acquired BP’s LPG assets in Namibia, further strengthening its position in the downstream energy market.<\/p>\n

Notably, all shareholders of Nasan Energies are under the age of 33. “This is far more than the acquisition of service stations,” said Hamutenya, founder and director of Nasan Energies.<\/p>\n

“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,” he said.<\/p>\n

Nasan Energies intends to continue investing in its retail network, operational excellence, digital innovation, workforce development, and strategic partnerships to strengthen Namibia’s downstream petroleum sector while exploring further regional expansion.<\/p>\n

The company wants to position itself as one of Africa’s leading indigenous energy companies, the company said.<\/p>\n

Millennium Investment Holdings is a Namibian-registered private company, founded in 1992 and incorporated as a holding company in 1999. Its group of companies cover a range of interests, including property development and management, legal consulting, minerals exploration and processing, fishing, financial services, petroleum and oil products, advertising, and hospitality.<\/p>\n

Last week, ADNOC Distribution<\/a>\u00a0announced on Tuesday\u00a0it\u00a0had entered an agreement that covers the $1 billion (about R16,2bn) acquisition of 100% of\u00a0Shell Downstream South Africa (SDSA)<\/a>.<\/p>\n

United Arab Emirates based ADNOC said that the $1bn was the implied value prior to adjustment for net debt and working capital. \u201cThis includes its 580 company and dealer-owned fuel stations, as well as its wholesale fuel, aviation and lubricants operations.\u201d<\/p>\n

ADNOC Distribution\u2019s ambition to become a global mobility and convenience retailer, while advancing its fuel retail footprint in Africa.<\/p>\n

Visit:www.businessreport.co.za<\/p>\n","protected":false},"excerpt":{"rendered":"Namibia-based Nasan Energies, founded by the CEO of Millennium Investments, has completed the acquisition of 52 Engen and…\n","protected":false},"author":2,"featured_media":330314,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[43],"tags":[157113,1749,160834,37203,38591,160833,12016,160824,160831,160830,160829,102,160832,160825,160835,157208,24301,131,267,10713,29922],"class_list":["post-330313","post","type-post","status-publish","format-standard","has-post-thumbnail","category-namibia","tag-adnoc-distribution","tag-african","tag-bi-norwegian-business-school","tag-bp","tag-engen","tag-european-school-of-economics","tag-london","tag-miguel-hamutenya","tag-millennium-investment-holdings","tag-millennium-investments","tag-millennium-investments-group","tag-namibia","tag-nasan","tag-nasan-energies","tag-oslo","tag-sdsa","tag-shell","tag-south-africa","tag-southern-africa","tag-united-arab-emirates","tag-vivo-energy"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@africa\/116916187568275011","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts\/330313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/comments?post=330313"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts\/330313\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/media\/330314"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/media?parent=330313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/categories?post=330313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/tags?post=330313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}