On 1st March 2019, Mocoh Ghana Limited completed a transaction with Engen Holdings (Pty) Limited to acquire 100% of the shares of Engen Ghana Limited.
Engen Ghana Limited operates and markets petroleum products from 22 Engen-branded service stations and is active along the following business lines; wholesale/B2B, lubricants, LPG and bunkering businesses.
Mocoh Ghana is an affiliate of Reston Energy, a Ghanaian petroleum company (55%) and the Mocoh Group (45%). The Mocoh Group, headquartered in Geneva Switzerland, has been operating in Africa for 21 years and is actively involved in the trading, logistics and the distribution of petroleum products across the continent.
Mocoh Ghana has been active in Ghana for the last four years as a strong supply and trading partner to the public and private sector. In line with government of Ghana’s vision to increase local content in the petroleum sector, Mocoh Ghana is an indigenous company with the majority of the equity held by Ghanaians. “Our ambition is to build capacity and equip Ghanaians with the international skills required to compete at all levels. We aim to run a first-class Oil Marketing Company, owned and operated by Ghanaians, to provide value to our customers in every part of the country” states Kwame Kessie, managing director of Mocoh Ghana.
The integration of a renowned downstream player such as Engen, combines trading expertise with distribution excellence. This is in line with Mocoh Group’s strategy to become a fully integrated player in Africa. This transaction reinforces the footprint of the Mocoh Group especially in Ghana but also in Africa in general. The Mocoh Group has trading, supply and distribution activities in Nigeria, Senegal, Cameroon, Togo, Benin, Burkina Faso, Mali, DRC, South Africa and Madagascar, with an ambition to cover the continent.
“We are very happy to welcome to the Mocoh family, the 250 people working directly or indirectly in the Engen offices and the service stations spread across Ghana. Our plans in Ghana are to create more service stations, employ more Ghanaians, market the best products, provide the best service to our customers and share the fruit of our success with the local community,” comments Michael Hacking, CEO of Mocoh Group.