Puma Energy set to review strategic plan

DODOMA: PUMA Energy Tanzania is set to review its strategic plan in line with the shareholders’ agreement, in a move expected to reshape its operations, align with national energy goals and unlock new avenues for investment and growth.

The announcement was made during a visit by Puma Energy’s senior leadership to the Office of the Treasury Registrar. The delegation included the company’s Global Chief Executive, Mark Russel, newly appointed Head of Africa, Ben Quattara and Puma Energy Tanzania Managing Director, Fatma Abdallah.

Treasury Registrar Nehemiah Mchechu said a timely review of the strategic plan was essential to capitalise on emerging opportunities.

“The management and the board will have to review the business strategy within this year for us to take advantage of good things starting next year,” Mr Mchechu said on Tuesday, adding that implementation of the revised plan would begin next January.

Puma Energy Tanzania is jointly owned by the government and Puma Investments, each holding a 50 per cent stake. The company is a subsidiary of Puma Energy Holdings, itself part of Trafigura PE Holding. Mr Mchechu said the government remained strongly committed to the company, describing it as a strategic national asset. “Our investment in Puma is strategic.

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It ensures government presence in the energy sector and the distribution network,” he said.

Mr Russel, on his first official visit to Tanzania as CEO, said the company plans to scale up its operations by expanding the distribution network and diversifying its product portfolio.

“We want to look at the strategy to see where we can build the business further, offering more to the community through our retail offering,” said Mr Russel.

Mr Quattara said Tanzania holds a central position in Puma Energy’s continental strategy.

“From Africa’s perspective, Tanzania remains a critical and important partner. We want to continue growing, investing and improving our portfolio here,” said Quattara. He added that a strategic partnership must also deliver local impact. “The fact that Tanzania is our first visit in these roles clearly shows its importance to us,” he said.

Ms Abdallah said the company had recorded strong operational performance and outlined major projects currently underway.

She said construction of Compressed Natural Gas (CNG) stations was in progress, with operations expected to begin within two to three months. She added that the company’s LPG business had expanded from Dar es Salaam and Pwani into Dodoma, with further plans to enter Mwanza and Arusha before year-end.