Amsons Group has acquired Geneva-based Oryx Energies’ Tanzania downstream business in a transaction worth more than US$ 230 million subject to regulatory approvals.

In a market update, Amsons said it is acquiring an oil major’s assets that will see it start controlling all the downstream activities Oryx previously conducted in Tanzania. 

The transaction will see Amsons integrate Oryx’s extensive bulk storage terminals, its vast network of retail stations and equity interests in strategic fuel hub partnerships, including key storage operations at TIPER in Dar es Salaam.

Additionally, it will also raise Amsons Group’s storage capacity from 300,000 metric tonnes to 800,000 metric tonnes and expand its retail network to 300 stations and growing across several countries.

Amsons Group Managing Director Edha Nahdi said the business well positioned to build on the foundations Oryx Energies laid and pursue further growth opportunities in the Tanzanian market.

Oryx Energies CEO Moussa Diao said the transaction marks a significant milestone in East Africa’s downstream energy landscape, transferring key retail service stations, storage terminals, and distribution infrastructure into local hands.

“We believe that Amsons Group is well placed to take this business into its next chapter, building on its existing strengths and creating new opportunities for its employees, customers and partners. This transaction is also an important step in Oryx Energies’ evolving strategy, as we focus our capital and efforts on developing energy infrastructure across Africa and strengthening our trading activities. Africa remains at the heart of our business and our long-term ambitions,” Diao said.

According to Nahdi, "integrating Oryx’s extensive distribution network and storage capabilities" will allow the company to strengthen domestic fuel security and anchor Tanzania as a vital regional logistics hub for East and Central Africa.

The completion of the transaction is subject to the necessary regulatory approvals and other customary conditions. In the meantime, Oryx Energies will continue its activities in Tanzania as usual, maintaining its focus on customers, partners, and the safe, reliable delivery of its services.

The acquisition cements Amsons Group’s position as the leading independent energy conglomerate across East and Central Africa. The deal grants Amsons unmatched operational scale, uniting the region’s largest fuel storage capacity, an expansive retail service station network, and key logistics infrastructure.

Furthermore, the acquisition of Oryx has added to the already aggressive strategic approach of Amsons Group, which has taken shape in the last two years or so through the acquisition of Mbeya Cement in Tanzania and launching multi-million dollar buyout offers for blue-chip giants like Bamburi Cement and East Africa Portland Cement (EAPC) in Kenya. 

A 1,000-megawatt solar investment in Zambia matches Amsons Group’s energy logistics with heavy industrial demand.

Historically, East African energy networks operated in silos. By building a network that physically links Tanzanian ports, Mozambican transit corridors, Kenyan industrial strongholds, and the Zambian/Congolese mining belts, Amsons Group is single-handedly constructing a private energy corridor. 

Led by Group Managing Director Edha Nahdi, the group is moving away from traditional localised trading and solidifying its position as a self-sustaining infrastructure and energy titan.