Mount Meru Group Announces Acquisition Agreement for Vivo Energy Rwanda and Malawi

Mount Meru Group and Vivo Energy have signed a Sale and Purchase Agreement for Mount Meru Group’s acquisition of Vivo Energy’s shareholding in Vivo Energy Rwanda and Vivo Energy Malawi, marking a significant step in the Group’s continued expansion across Africa.

The combined transaction will see Mount Meru Group acquire Vivo Energy’s interests in the two businesses, including their extensive retail service station networks and commercial fuel and lubricants operations.

The transaction includes more than 40 service stations in Rwanda and more than 50 service stations in Malawi, further strengthening Mount Meru Group’s presence in two markets where the Group already has an established history of operations.

Strengthening a Long-Standing Regional Presence

Mount Meru Group first entered Rwanda in 2007 and Malawi in 2013, establishing a long-standing presence in both markets. The proposed transaction will significantly deepen the Group’s footprint and create opportunities for further investment and growth.

Vivo Energy identified Mount Meru Group as a strong partner to take the businesses forward, recognising the Group’s local and regional expertise, focused investment approach and long-term commitment to the African downstream energy sector.

Commenting on the development, Atul Mittal, Director, Mount Meru Group, said:

“We are proud to be growing our existing, long-standing presence in Rwanda and Malawi.

“We are committed to investing and growing these businesses and on completion of the transaction look forward to strengthening relationships with channel partners, customers and employees while expanding our reliable service, customer satisfaction, and environmental responsibility to more consumers.”

The acquisition represents an important milestone in Mount Meru Group’s regional growth strategy and reinforces its commitment to investing in energy infrastructure, strengthening customer service and creating sustainable value across the markets in which it operates.

A Focus on Customers, Employees and Partners

The proposed acquisition is expected to strengthen Mount Meru Group’s relationships with customers, employees, dealers and other channel partners in Rwanda and Malawi.

The Group intends to build on the existing foundations of the businesses while bringing its regional experience and operational expertise to support continued growth and reliable energy supply.

Vivo Energy CEO Stan Mittelman said the decision reflects the company’s commitment to ensuring that each part of its portfolio has the ownership best positioned to support its future development.

“Mount Meru brings deep local and regional expertise and a genuine ambition to invest in these markets, and we are confident this transaction provides a strong opportunity for our employees, dealers and customers in both countries.”

He added that Vivo Energy has valued its engagement with the Mount Meru team throughout the process and looks forward to a smooth transition.

Transaction Subject to Regulatory Approvals

The Sale and Purchase Agreement remains subject to approval from the relevant authorities and the fulfilment of other conditions precedent.

The process is expected to take several months before completion.

Until the transaction is completed, Vivo Energy Rwanda and Vivo Energy Malawi will continue to operate as normal, maintaining their commitment to safe, reliable and high-quality service for customers.

Further updates will be communicated as the transaction progresses and upon completion.

Expanding Mount Meru Group's African Footprint

Mount Meru Group is a diversified African conglomerate operating in more than 15 countries across energy, consumer products and logistics.

The Group operates a network of more than 330 fuel stations, supported by extensive storage and distribution infrastructure. Its energy portfolio includes petroleum products, LPG, lubricants, jet fuel and heavy fuel oil.

Beyond energy, Mount Meru Group has established operations in agro-processing and edible oil refining, supported by an integrated logistics network comprising more than 1,000 trucks.

The proposed acquisition of Vivo Energy’s shareholding in Rwanda and Malawi further strengthens the Group’s position as a growing regional energy and downstream distribution company.

About Vivo Energy

Vivo Energy operates across Africa, the Indian Ocean Islands and Jordan, managing more than 4,200 service stations across 29 markets under the Engen and Shell brands.

The company supplies fuels, lubricants, LPG and chemicals to retail and industrial customers and is supported by more than 6,000 employees and over 2.1 billion litres of fuel storage capacity.

The proposed transaction between Vivo Energy and Mount Meru Group represents an important development for both organisations and their stakeholders, while creating a strong platform for the continued growth of the businesses in Rwanda and Malawi.