- The family-owned conglomerate takes control of a major’s downstream assets, becoming East Africa’s largest independent energy player.
Amsons Group, the family-owned Tanzanian energy and manufacturing conglomerate, has agreed to acquire the Tanzania downstream business of Geneva-based Oryx Energies in a transaction worth more than US$230 million, the company said on October 16th. The deal, one of the largest in East Africa’s downstream energy sector, transfers key retail service stations, storage terminals and distribution infrastructure from a Swiss oil major into local hands.
The acquisition is subject to regulatory approvals and other customary conditions. Until completion, Oryx Energies will continue operating in Tanzania as usual, the companies said.
For Amsons, the transaction is transformative in scale. The group’s fuel storage capacity will rise from 300,000 metric tonnes to 800,000 metric tonnes, and its retail network will expand to roughly 300 stations across several countries, cementing its position as the leading independent energy conglomerate in East and Central Africa.
The deal also brings equity interests in strategic fuel hub partnerships, including key storage operations at TIPER in Dar es Salaam, alongside Oryx’s bulk storage terminals and retail station network.
Amsons Group: A Pan-African Buyer for a Major’s Assets
Oryx Energies, headquartered in Geneva, said the sale forms part of its strategic review of downstream assets in Africa as it redirects capital toward energy infrastructure and trading.
“This transaction marks a significant milestone in East Africa’s downstream energy landscape, transferring key retail service stations, storage terminals and distribution infrastructure into local hands,” said Moussa Diao, chief executive of Oryx Energies. “Tanzania has been an important part of Oryx Energies’ history, and we are proud of the business we have built. We believe that Amsons Group is well placed to take this business into its next chapter.”
Edha Nahdi, Amsons Group’s managing director, framed the acquisition as a strategic leap. “Integrating Oryx’s extensive distribution network and storage capabilities allows us to strengthen domestic fuel security and anchor Tanzania as a vital regional logistics hub for East and Central Africa,” he said.
Building a Private Energy Corridor
The Oryx deal is the latest move in an aggressive expansion strategy that has reshaped Amsons over the past two years. The group has acquired Mbeya Cement in Tanzania and launched multibillion-dollar buyout offers for Kenyan blue-chip cement makers Bamburi Cement and East Africa Portland Cement. It has also announced a 1,000-megawatt solar investment in Zambia, pairing energy logistics with heavy industrial demand.
Historically, East African energy networks have operated in silos. Amsons is attempting to change that by physically linking Tanzanian ports, Mozambican transit corridors, Kenyan industrial strongholds and the Zambian and Congolese mining belts—in effect constructing a private energy corridor. The strategy marks a departure from traditional localised trading toward what the company describes as a self-sustaining infrastructure and energy platform.
The Oryx acquisition supplies the missing piece: the storage and distribution backbone needed to move fuel at scale across that corridor. With 800,000 metric tonnes of storage capacity and a retail network approaching 300 stations, Amsons will command operational scale unmatched by any independent rival in the region.
Read also: Amsons Group unit Kalahari Cement seals 56.2% stake in cement maker EAPC
From Camel Oil to a Diversified Titan
Founded in 2006, Amsons began as an importer of bulk petroleum products under the Camel Oil Tanzania retail brand. It has since grown into a family-owned group with 16 subsidiaries spanning fuel and lubricants, liquefied petroleum gas, cement, wheat flour milling, premix concrete, inland container depots and a transportation fleet operating across Zambia, Malawi, Mozambique, the Democratic Republic of Congo, Burundi and Tanzania.
Its manufacturing arm now boasts installed cement capacity exceeding 15,000 metric tonnes per day, bolstered by the Mbeya, Bamburi and East Africa Portland acquisitions—though the Kenyan buyouts have yet to close. The group operates fuel depots in Tanzania, Mozambique, Zambia and the DRC.
Strategic Significance
The deal carries weight beyond Amsons’ balance sheet. It signals the maturation of East African capital, with local conglomerates now capable of absorbing assets that once belonged to European majors. It also aligns with regional priorities: strengthening domestic fuel security, reducing dependence on foreign-controlled infrastructure and positioning Tanzania as a logistics gateway for landlocked neighbours.
The transaction still requires regulatory approval, and integration of a complex downstream portfolio, storage terminals, retail stations and hub partnerships, will test Amsons’ management capacity. The group’s simultaneous push into cement, solar power and fuel logistics across multiple jurisdictions raises questions about leverage and focus. Completion of the Kenyan cement acquisitions, which have faced regulatory scrutiny, is not assured.
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