Tanzanian energy company Lake Oil has just been given the green light by the Kenyan Competition Authority to buy Kenya-based Hashi Energy.
Lake Oil has roots in Tanzania but its business has already expanded to Kenya, Zambia, Rwanda and Burundi. With this investment, Lake Oil will add Hashi’s oil retail business to its own existing distribution network in Kenya. Last year, Hashi’s sales represented 3.7% of the total sales volume of the market, which made it the seventh-largest player in the market. In number of outlets, however, the company places higher, just behind Nock, OiLibya, KenolKobil, Total and Vivo.
This is not the first time the Kenyan petroleum retail industry is news recently. In fact, Lake Oil is just the latest international company to make a move in the Kenyan sector after French Total was authorized to buy the Gulf African Petroleum Corporation.