Tanzanian tycoon behind Bamburi Cement agrees to buy Oryx’s fuel business as East African empire expands

Tanzanian businessman Edha Nahdi’s Amsons Group has agreed to acquire Oryx Energies’ downstream oil business in Tanzania, extending its interests in fuel distribution and infrastructure after its takeover of Kenya’s Bamburi Cement. The proposed transaction would place another established business under the control of an East African industrial group expanding across several sectors.

• Amsons Group has agreed to acquire Oryx Energies’ Tanzanian fuel business, including service stations, storage terminals and distribution infrastructure.
• The deal would expand the Tanzanian group’s energy interests alongside its existing cement, transport and manufacturing businesses.
• Oryx says the sale will help it focus on African energy infrastructure and trading activities.
• The acquisition awaits regulatory approval, with the purchase price and completion date undisclosed.

The assets covered include retail service stations, storage terminals and distribution infrastructure. The purchase price has not been disclosed.

The deal remains subject to regulatory approvals and other customary conditions. Until completion, Oryx will continue operating the business and serving customers as usual.

For Amsons, the proposed acquisition would strengthen an existing energy and logistics business rather than mark its first move into petroleum.

In an announcement dated 16 October⁠, Oryx said the agreement forms part of a strategic review of its downstream assets in Africa.

Oryx chief executive Moussa Diao said the sale would allow the company to focus capital and resources on developing African energy infrastructure and strengthening its trading activities.

Selling a national retail and distribution business does not amount to withdrawing from Africa’s energy sector. It changes where the seller deploys capital and which parts of the supply chain it prioritises.

From cement ownership to a larger fuel network

Amsons’ expansion has already brought it into one of Kenya’s best-known industrial businesses.

Holcim confirmed that it sold its entire 58.6% holding in Bamburi Cement to Amsons, receiving more than $100 million for that stake. Bamburi’s financial disclosures record the majority acquisition as completed in December 2024.

The Oryx agreement adds a different type of asset, infrastructure used to store and distribute the fuel that supports transport, manufacturing and other commercial activity.

Fuel storage and distribution are strategically important because ownership provides access to customers and physical supply networks. Their commercial value depends on utilisation, operating costs, reliable supply and regulatory conditions.

"We are delighted to finalize this acquisition, which marks a transformative step in our strategic vision to expand Amsons Group's footprint in energy and logistics. Integrating Oryx’s extensive distribution network, storage capabilities, which allows us to strengthen domestic fuel security and anchor Tanzania as a vital regional logistics hub for East and Central Africa," Nahdi said.

Amsons’ existing interests include Camel Oil, cement, transport and manufacturing businesses. The proposed purchase would therefore broaden an established network of operations with overlapping needs for fuel and logistics.

However, neither a completion timetable nor quantified savings have been disclosed. The agreement alone provides no basis to conclude that consumers will pay less for fuel or that jobs will increase.

The immediate consequence is a proposed shift in ownership of established energy infrastructure. Its wider importance lies in how an expanding regional group uses those assets alongside its industrial businesses once the necessary approvals are secured.