Zambia: PUMA to Invest over $800m in African Downstream
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Monday, 21 November 2011 |
Puma Energy has officially launched launched its brand in Zambia, promising to invest over $800m in operations and infrastructure on the continent. Speaking at the launch, which took place at the Nchanga Golf Club in Chingola, Christophe Zyde (Chief Operations Officer for Puma Energy Africa) said that the company has major ambitions from its southern African operations.
Puma agreed to purchase BP’s southern African fuel marketing business in Botswana, Namibia, and Zambia, and to take a 50% stake in BP Malawi and BP Tanzania, last year. The company, headquartered in Switzerland, is moving to increase its stake on the continent, and agreed to acquire Chevron’s fuel marketing businesses in Namibia during September.
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