Puma pledges more investment in Malawi
Global oil company, Puma Energy, active in over 35 countries across the globe, has said it views Malawi as a small but important market for its business chain, pledging to continue investing in the country in the areas of infrastructure, among others.
The company, which boasts of more than 1 500 retail stations worldwide and a combined storage capacity of 4.4 million cubic metres, made the pledge in Johannesburg in South Africa on Mondayevening when its senior officials addressed Africa’s senior business journalists from countries it has foot-prints.
“We will keep on developing the Malawi market, and we have been rebranding the whole network, we have already invested hugely in the construction of our depots and we want to keep on developing. We just hope to keep on investing our money in Malawi,” said Christopher Zyde, head of Puma Energy in Africa.
Zyde was responding to Business Review inquiry on likely plans that the oil firm harbours for Malawi beyond, having successfully acquired 50 percent stakes in British Petroleum (BP) Malawi.
He added: “Malawi is a small market but for me, it’s more than beautiful; it’s a market for us, as we are market leaders and that should give us a responsibility to keep on serving the market.”
Zyde also assured that the company is fully determined to expanding its infrastructure, adding that the company is currently putting in place regional and local storage and transport facilities.
He also stated that the firm is at the moment investing in new technology and new systems to make oil products more accessible and affordable to people.
According to Zyde, the oil company is making huge strides across the globe in its core business of buying, refining, storing, transporting and selling oil products to business and retail customers in over 35 countries across the five continents.
“Where other oil companies have moved out, we have moved in. We invest in new bulk storage terminals and retail service stations, in the people who run them and in the supply networks that serve them,” he added.
During the event, the company’s chief financial controller Denis Chazarain assured that being an entrepreneurial business, the company will not tire of responding quickly to new opportunities emerging across the globe.
Formed in 1997 in central America, Puma Energy has over the years expanded its activities world-wide, achieving rapid growth, diversification and product line development.
During the Johannesburg event, it was disclosed that the company, which has its headquarters in Singapore, directly employs over 6 000 employees.
