Tagwirei exits fuel sector
company which is currently awaiting final regulatory approval,” said the spokesperson.
“This will bring improved clarity on Trafigura’s activities in the country, an opportunity for more robust financing of Trafigura Zimbabwe and aims to help improve the security of supply of fuel to Zimbabwe. Trafigura Zimbabwe will continue to ensure that petroleum products are made available in line with Zera (the Zimbabwe Energy Regulatory Authority)’s regulated price build up and quality standards..”
The Trafigura spokesperson assured interested parties in Zimbabwe that the ownership change will not “cause any interruption to Trafigura’s supply of fuel to Zimbabwe”.
Zera acting chief executive officer Mr Eddington Mazambani could neither confirm nor deny the transaction. “Trafigura is not a licensee so Zera wouldn’t have their shareholding structure. Trafigura or Sakunda are best placed to comment,” he said referring further questions to the Competition and Tariff Commission (CTC) which handles mergers and demergers to check on potential monopolies that could arise.
CTC director Ms Ellen Ruparanganda asked for written questions and had not responded by the time of going to print. Mr Tagwirei’s mobile phone went unanswered last night and he had not responded to a text message by the time of going to print. Secretary for Energy and Power Development Dr Gloria Magombo said she was not yet aware of the transaction.