Vivo Energy Rwanda is set for a change in ownership after Mount Meru Group signed an agreement to acquire its businesses in Rwanda and Malawi, a move expected to bring new investment and strengthen fuel distribution operations in both markets.
The agreement, announced on Monday, covers Vivo Energy’s shareholding in Vivo Energy Rwanda and Vivo Energy Malawi, including more than 40 service stations in Rwanda and more than 50 in Malawi.
Vivo Energy currently operates Engen-branded fuel stations in Rwanda. The transaction also includes the company’s commercial fuel and lubricants businesses serving vehicles, machinery and industrial customers.
The deal is not yet final and remains subject to regulatory approvals and other closing conditions. The completion process is expected to take several months.
Until the transaction is completed, Vivo Energy Rwanda and Vivo Energy Malawi will continue operating as usual, with no immediate changes to customers, employees or business operations.
Vivo Energy said it selected Mount Meru Group because of its experience in Rwanda and the wider region, its investment capacity and its long-term commitment to developing the businesses.
“We are proud to be growing our existing, long-standing presence in Rwanda and Malawi,” Atul Mittal, director of Mount Meru Group, said. “We are committed to investing and growing these businesses and look forward to strengthening relationships with channel partners, customers and employees.”
Mount Meru Group entered the Rwandan market in 2007 and began operations in Malawi in 2013. The company has since expanded across Africa and currently operates in more than 15 countries with more than 330 fuel stations under the Meru brand.
The group’s operations include petroleum distribution, liquefied petroleum gas, motor oils, aviation fuel and other petroleum products used by industries. It also has interests in edible oil processing, agriculture, fast-moving consumer goods and logistics, including a transport fleet of more than 1,000 trucks.
Stan Mittelman, chief executive officer of Vivo Energy, said the decision to sell the Rwanda and Malawi businesses was part of a broader strategy to ensure each company in Vivo Energy’s portfolio has ownership best positioned to support future growth.
“This decision is not a reflection of how our Rwanda and Malawi businesses have performed,” Mittelman said. “Mount Meru brings deep local and regional expertise and a genuine ambition to invest in these markets.”
Vivo Energy operates more than 4,200 service stations across 29 markets, many of them under the Shell and Engen brands.
If completed, the acquisition will mark a major expansion of Mount Meru Group’s presence in Rwanda’s fuel retail and distribution sector.
