Gulf Petrochem, a United Arab Emirates based oil dealer, has made an entry into the Kenyan market by buying out Essar Petroleum East Africa.
The two applied to the Energy Regulatory Commission (ERC) for approval of the acquisition last October. Gulf Petrochem is said to be interested in supplying bitumen to Kenya and the region as construction of tarmacked roads picks up.
Essar Petroleum holds a licence to import, export and sell wholesale all petroleum products except liquefied petroleum gas.
The company has a local market share of about 1.1 per cent and operates two petroleum retail stations in Nairobi under franchise, according to ERC.
Can they as well contract KK to help them reach the other AFrican markets?
Seems after China penetrated African market and Kenya for that reason, UAE lost alot as the Dubai of the late 90s' and 2000s' died out in Kenya as shoppers and importers came to realise Dubai as a re-export city and not a manufacturer. Kenyans Gone to the source thereby eliminating dubai somehow.
Dubai investors who made enough money then are coming to Kenya through buy-outs of businesses. Buying CMC, KPRL and very soon may be Sameer is the only way out to recapture market.
I remember one day I wrote to KK and Sameer to trade in Bitumen as well but they took no action.
The only issue here will be Majid vs Ohana....two cultures that never mix
Has KK been paid its dues by KPRL????????