The KenolKobil Group has finalized plans to open an office in Zimbabwe effective January 1, 2011. The move will consolidate the company’s presence towards the Southern African region, and comes only four months after it registered a company in Mozambique in July 2010. The company is preparing for the commencement of business activities in both Zimbabwe and Mozambique effective 2011, and is already scouting for investment opportunities in both countries.
This is in line with the company’s “Move South” business strategy prepared by Management and approved by the Board for 2011 calendar year, and will see the company consolidate its business in the South African region, outside of South Africa. The move will support growth outside Kenya in line with the company’s diversification strategy, and enhances KenolKobil’s position as a key player in the East, Central and Southern Africa’s downstream oil business.
Apart from investment in subsidiaries, KenolKobil has been growing its existing portfolios in the different countries it has invested in, to grow their contribution to the bottomline.
The company has commissioned two state of the art LPG Filling Plants, one in Uganda and the other in Rwanda, to support its LPG brand, K-gas, which has been undergoing phenomenal growth in the two markets.
KenolKobil is set to continue evaluating its investment baskets to enhance better return on investments for its shareholders.
Apart from investment in subsidiaries, KenolKobil has been growing its existing portfolios in the different countries it has invested in, to grow their contribution to the bottomline.
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