SOUTH AFRICA overview
In May 2024, Vivo Energy announced the purchase of PETRONAS' 74% shareholding in Engen Limited, combining with Engen's South Africa business. This marks an exciting new chapter for Vivo Energy and Engen and creates a pan-African energy champion.
The Phembani Group, Engen’s long-standing B-BBEE shareholder, is continuing its strategic association with Engen and will remain invested as a 21% shareholder in the South African business. A new 5% employee share ownership programme is being created, resulting in Engen South Africa being 26% owned by historically disadvantaged persons.
Vivo Energy and Engen are now working together to take the ‘best of both’ from Engen and Vivo Energy, positioning the combined organisation well for growth and success in the years to come.
The enlarged Vivo Energy will only make changes that add value, keeping a ‘business as usual’ approach for customers, partners, suppliers, and employees. The new organisation will continue to place a strong focus on delivering added value and benefits for customers and stakeholders.
As part of the transaction, Vivo Energy has committed to invest a significant amount of capital expenditure to maintain and grow Engen’s operations in South Africa, ensuring a modern and efficient business, for the benefit of the South African population. We have also committed to major investments in renewable solar power generation projects to help transform the economy, while supporting a just energy transition for the country.
For more information, please visit www.engen.co.za
WORKING FOR VIVO ENERGY
A business can only be as good as the individuals it employs. Vivo Energy actively seeks out people with something special. Is that you?
INVESTING IN OUR COMMUNITIES
Our approach in Zimbabwe.
We employ local people and serve local businesses and individuals. We want to create lasting social and economic benefits for these communities and earn their respect and trust.