Vivo Energy, the company formed by Vitol, Helios Investment Partners and Shell to distribute and market Shell-branded fuels and lubricants across Africa, has acquired a majority shareholding in Shell Ghana Limited.
The company would be renamed Vivo Energy Ghana and headed by Fred Osoro who takes over from Vincent Richter, the outgoing acting Managing Director.
This was revealed by Marjolein van Kampen, Corporate Communication Director of Vivo Energy, said this in a statement issued Thursday.
The statement said Mr Osoro has twenty years of experience in the energy industry, specifically in management and marketing positions of Esso, Mobil and Engen in Ghana and Nigeria. It added that “his appointment to the Board will be formalised at the next Board meeting”.
Christian Chammas, CEO of Vivo Energy, said: “Ghana is an important market and a growing economy which is set to benefit from significant developments in the energy sector.
“We are acquiring a business with great potential; a long history in Ghana, a high calibre workforce and a large and diversified customer base.
“Vivo Energy is looking forward to serving our Ghanaian customers and investing in the business, to ensure it realises its full potential under Fred Osoro’s leadership.”
According to the statement, the Shell brand has been in Ghana for 85 years and has been the leading marketer of fuels and lubricants.
Vivo Energy Ghana, it added, has a storage capacity of 8,300m³ and 124 retail stations with the majority offering Shell Cards and convenience retail stores.
The statement said the company is recognised as the leader in the oil industry especially championing and setting standards for safety in sales and distribution adding that “it brings to fifteen the number of African markets in which Vivo Energy has a presence”.