- Tanzanian businessman Edha Nahdi's Amsons Group agreed to acquire Oryx Energies' downstream oil business in Tanzania in a deal worth over $230 million
- The acquisition will transfer Oryx's retail service stations, storage terminals and distribution infrastructure to Amsons, subject to regulatory approvals
- The deal follows Amsons Group's purchase of Kenya's Bamburi Cement and a $600 million solar energy project in Zambia, expanding its regional footprint
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Amsons Group, the Tanzanian industrial conglomerate led by co-founder and managing director Edha Nahdi, has agreed to take over the downstream petroleum operations of Geneva-based Oryx Energies in Tanzania in a transaction valued at more than KSh 29.8 billion (US$230 million).
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Announced on October 16, 2026, the deal covers Oryx's retail service stations, fuel storage terminals and distribution infrastructure across Tanzania, as well as equity interests in storage operations at the Tanzania International Petroleum Reserve (TIPER) in Dar es Salaam.
What will Amsons Group get from Oryx acquisition
Once completed, the transaction is expected to raise Amsons Group's fuel storage capacity from 300,000 metric tonnes to 800,000 metric tonnes and expand its retail network to roughly 300 service stations across multiple countries.
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The final purchase price has not been formally disclosed, though reports indicate it falls below the approximately US$250 million figure from earlier negotiations.
Oryx chief executive Moussa Diao said the divestiture forms part of a broader strategic review of the company's African downstream assets, enabling it to redirect capital towards energy infrastructure development and trading activities.
"Tanzania has been an important part of Oryx Energies' history, and we are proud of the business we have built and the relationships we have developed over the years," Diao said.
Nahdi described the acquisition as central to his group's long-term ambitions.
"We are delighted to finalise this acquisition, which marks a transformative step in our strategic vision to expand Amsons Group's footprint in energy and logistics," he said, adding that the move would help anchor Tanzania as a vital regional logistics hub for East and Central Africa.
Amsons Group's expanding regional empire
The Oryx deal is the latest in a series of high-value transactions that have transformed Amsons from a Tanzanian fuel distributor into one of East Africa's most active industrial investors.
Nahdi founded Camel Oil Tanzania in 2006 at the age of 19, building a bulk oil import and distribution business that eventually supported the group's move into logistics, flour milling and cement.
As reported earlier on TUKO.co.ke, the group entered Kenya's cement sector when Swiss multinational Holcim sold its entire 58.6% stake in Bamburi Cement to Amsons in December 2024, generating more than KSh 13 billion (US$100 million) in cash proceeds for the seller.
Amsons subsequently acquired more than 95% of Bamburi's issued equity and initiated a compulsory buyout of remaining minority shareholders. The group also purchased a 29.2% stake in East African Portland Cement Company through its subsidiary Kalahari Cement, valued at KSh 718.66 million.
Combined with Bamburi's existing 12.5% holding in EAPCC, Amsons emerged as the single largest shareholder in that company with a 41.75% stake, a move that drew anti-trust scrutiny from Kenyan lawmakers.
Beyond East Africa, Amsons announced a KSh 77.7 billion (US$600 million) agreement to construct a one-gigawatt solar power plant in Zambia, reflecting the group's stated ambition to develop utility-scale renewable energy.
Amsons currently employs more than 10,000 people across the continent. The Oryx acquisition remains subject to regulatory approvals, and until those are granted, Oryx Energies will continue managing its Tanzanian operations independently.
Source: TUKO.co.ke