Oman Trading International (OTI) has just announced the acquisition of a 40% stake in Hass Petroleum, a Nairobi-based oil retail operator, with business in Uganda, Rwanda and South Sudan.
The move marks the first incursion of the Omani government-owned company into Africa. While this is an important step for OTI, Hass also expects the partnership to help the company achieve important growth goals, according to chairman and founder Abdinasir Ali Hassan.
With an approximate 2% stake in the Kenyan market, the deal should enable Hass to increase its number of forecourt outlets throughout Kenya and in the rest of the region, in East and Central Africa, as well as in the Horn of Africa.
