Amsons Group has agreed to acquire Geneva-based Oryx Energies’ downstream oil business in Tanzania in a transaction valued at more than US$230 million, expanding its presence in fuel storage, distribution and retail operations.
The acquisition covers Oryx Energies’ downstream operations in Tanzania, including retail service stations, storage terminals and distribution infrastructure.
Completion remains subject to regulatory approvals and other customary conditions. Oryx Energies will continue operating in Tanzania as usual until the transaction is completed.
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Amsons Group Managing Director Edha Nahdi said the acquisition marked a major step in the company’s strategy to expand its energy and logistics businesses.
“We are delighted to finalise this acquisition, which marks a transformative step in our strategic vision to expand Amsons Group’s footprint in energy and logistics,” Nahdi said.
He added that integrating Oryx’s distribution network and storage facilities would strengthen domestic fuel security and support Tanzania’s role as a regional logistics hub for East and Central Africa.
The acquisition is expected to increase Amsons Group’s fuel storage capacity from 300,000 metric tonnes to 800,000 metric tonnes.
Its retail network is also expected to grow to approximately 300 service stations across several countries.
The transaction includes Oryx’s bulk storage terminals, retail stations and equity interests in strategic fuel hub partnerships. These include storage operations at the Tanzania International Petroleum Reserve (TIPER) in Dar es Salaam.
The expanded infrastructure is expected to strengthen the group’s capacity to store and distribute fuel across its regional markets.
Oryx Energies Chief Executive Officer Moussa Diao described the agreement as an important milestone for the company’s Tanzanian operations.
“We are pleased to have reached this agreement with Amsons Group, a Tanzanian business with strong roots in the country and a clear ambition for growth,” Diao said.
He said Tanzania had played an important role in Oryx Energies’ history and that the company was proud of the business and relationships it had developed over the years.
Diao added that Amsons Group was well positioned to develop the business further while building on its existing operations and creating opportunities for employees, customers and partners.
He said the transaction formed part of Oryx Energies’ evolving strategy to focus its capital and efforts on developing energy infrastructure across Africa and strengthening its trading activities.
The acquisition adds to Amsons Group’s recent expansion across East and Southern Africa.
In Tanzania, the group acquired Mbeya Cement. In Kenya, it has launched buyout offers involving Bamburi Cement and East African Portland Cement Company.
The group has also announced a 1,000-megawatt solar investment in Zambia.
The proposed Oryx Energies acquisition would further diversify Amsons Group’s regional operations by expanding its involvement in fuel storage, distribution and retail.
The transaction remains subject to regulatory approvals and other conditions before completion.
