Energy firm earmarks US$30m in investments
PUMA Energy Zimbabwe is planning investments worth US$30 million with focus on spreading its footprint to rural areas and driving the smart-city concept to buttress the Government’s economic transformation targets.
The company unveiled its ambitious growth plan during the official opening of the second Puma retail service station in Masvingo in partnership with fast food outlet, KFC.
Masvingo Minister of State for Provincial Affairs and Devolution Ezra Chadzamira, toured the new service station and the newly opened KFC drive-through outlet.
He was accompanied by Puma Zimbabwe general manager Mr Donatien Kodog and Masvingo City mayor Councillor Aleck Tabe.
In his remarks, Mr Kodog said Puma was committed to expanding business in Zimbabwe hence its drive to invest more in renewable energy and infrastructure in the coming three years.
“Over the next three years, Puma Energy Zimbabwe will invest $30 million towards various projects including providing tailored commercial renewable energy solutions where we will solarise 19 retail fuel stations, the introduction of modern lubricant bays, roll out liquid petroleum gas kiosks and the refurbishment of existing sites in our network,” he said.
“In addition, we aim to build a minimum of seven new flagship retail sites along major routes, and within urban areas and industrial hubs for 2024,” said Mr Kodog. “We will continue to increase the number of sites throughout the country on an annual basis for the next three years.
“Our future objectives include expanding our operations into rural areas, aligning with the country’s vision to foster the development of smart cities in remote regions.”
Puma Energy operates about 50 retail sites, with six situated along Masvingo-Beitbridge Highway excluding the newly opened outlet. Mr Kodog said the new service station showed that they were committed to local community development and economic growth.
“Puma is strategically located to serve local businesses, tourists, entrepreneurs and the motoring public. The construction of this service station demonstrates Puma Energy Zimbabwe’s commitment towards investing in the country, and positively impacting and energising the communities that we serve,” he said.
“This includes creating employment opportunities, contributing towards economic development and building socially beneficial partnerships.”
The Masvingo-Beitbridge Highway is the gateway to cross-border trade, cultural exchange and regional transport for business or leisure travel.
Minister Chadzamira said Puma Energy’s contribution to the economy and private-public partnerships was key to addressing poverty and unemployment challenges by 2030, which are key focus areas for Government.
“Puma Energy has set a target to contribute $5,2 billion to the country’s GDP by 2030. Its economic strategy is founded on fully liberating available opportunities in three key sectors, agriculture, mining and tourism,” said the minister.