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Vol 55 No 10

Published 16th May 2014


Zimbabwe

Trafigura takes over Sakunda

The global oil trader is taking over the ZANU-PF-connected fuels distributor as part of a regional expansion campaign

Trafigura is consolidating its grip on the fuel supply and distribution market in Zimbabwe with the acquisition of Sakunda Energy via its South African subsidiary, Puma Energy Africa Holdings (AC Vol 54 No19, Sakunda fuels rumours). The move cements Trafigura's relationship with President Robert Mugabe and the governing Zimbabwe African National Union-Patriotic Front (ZANU-PF). Sakunda, one of the country's most strategically important companies, is involved in other sectors as well as oil and its key decisions are always taken or approved at the highest levels of government. The acquisition also puts Trafigura on course for a greatly expanded role in the southern African region.

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