Puma Energy bullish about Zim growth prospects

Puma Energy Global is upbeat about the growth potential of Zimbabwe as a market and has pledged to continue investing towards expanding its business in the country to help grow the economy.

This comes as the global fuel giant recently made management changes to its local operation, Puma Energy Zimbabwe, after replacing general manager Mr Daniel Duffau with Donatien Kodog as it continues to make inroads in the local market.

“Zimbabwe represents an important market for Puma Energy and we see significant promise in the country’s growth potential. We remain committed to contributing to Zimbabwe’s growth journey by investing in expanding our retail network and offering our customers a convenient one-stop-shop for high-quality fuel, lubricants and convenience shopping,” Mr Kodog added.

Puma indicated it was looking to provide new energy solutions such as solar in order to reduce the burden on the national grid.

Recently, Puma Energy opened a storage facility in Bulawayo to improve diesel supply in the southern region. The facility can hold up to 1 million litres.

The company said supply to the facility was through rail and could be replenished in 24 hours, hence it would never run dry for supplies in the southern zone.

Mr Kodog added that “In terms of business to business, we are looking at growing our aviation supply as we currently supply four airports in Zimbabwe mainly, Victoria Falls, Charles Prince, Harare and Bulawayo airports.”

The company said it would not hesitate to expand to other airports such as Buffalo Range if the business made sense.

The energy company is targeting mining, agriculture and medical companies with its LNG supplies as it seeks to gain a sizable market share in the sector.

Puma currently services 20 percent of the overall market in Zimbabwe with 25 percent of retail and 15 percent in business to business division.

Under the stewardship of Mr Duffau, Puma Energy launched the US$32 million investment drive, which seeks to construct seven service stations a year for five years and is currently in its second year.

“Our plan as Puma is to grow our brand in the country, and with 71 service stations currently, we are looking at increasing them by adding seven new ones each year.

“I am confident that under the stewardship of Mr Kodog the target will be achieved even in my absence.”

“We believe in Zimbabwe and as an international company we want to invest in Zimbabwe, by giving the country new products such as Liquefied Petroleum Gas (LPG) and Liquefied Natural Gas (LNG),” Mr Duffau said as he passed on the torch.

Mr Kodog said it was an honour to work in Zimbabwe, adding he heard many good things and had seen potential in the country as he began his journey towards making Puma Energy the supplier of choice in the country.

His predecessor, Mr Duffau, has been moved to Papua New Guinea, where he will be the company’s general manager.

The market is the company’s second-largest operation by revenue. Puma Energy runs a refinery in the country and controls the market for most of the imported fuel.

Via its local services, Puma employs 330 people directly and another 800 people indirectly.

The company has vowed to continue creating employment in the country in support of the national vision of achieving an upper-middle-income country by 2030.

Puma entered the Zimbabwean market at the end of 2013 after acquiring a 60 percent equity stake in Redan Petroleum and Sakunda.

The company is a global integrated midstream and downstream oil company active in over 49 countries. Formed in 1997 in Central America, Puma Energy has since expanded its activities worldwide, achieving rapid growth, diversification and product line development.-herald