Expansion Update: Simba Oil Company Limited

Last year, our subsidiary, Simba Oil Company Limited, partnered with Eagles Holdings Limited (Zambia National Service), the commercial arm of the Zambia Military, to undertake a major project aimed at advancing fuel infrastructure throughout Zambia.

Our current operations include fully functional petrol stations strategically located in Kabanana, 10 Miles and along Mumbwa Road. We are also advancing with four additional stations: along Mungwi Road, Los Angeles Makeni Road, ZNS Makeni, and ZNS Chamba Valley.

In a major stride towards our growth objectives, we are set to commission two of the petrol stations by the end of the fourth quarter of 2024.

Furthermore, we are excited to announce our plan to construct five truck stops and two additional filling stations in strategically important locations across Zambia: Kapiri Mposhi, Kasumba Lesa, Katima Mulilo, Nakonde, and Chirundu.

These facilities will operate under a Public-Private Partnership (PPP) model with Eagles Holdings Limited, utilizing the Build, Operate, Transfer (BOT) framework. Each location will feature comprehensive amenities including parking, dining, lodging, convenience stores, fueling, and restrooms.

This initiative is more than an infrastructure project; it is a commitment to the local community, aiming to generate employment opportunities and provide secure, well-equipped rest areas for truck drivers.

We extend our deepest gratitude to our partners and all those involved in this endeavour.

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