Amsons Group is set to more than double its fuel storage capacity after agreeing to acquire Oryx Energies’ petroleum business in Tanzania in a deal reported to be worth more than $230 million.

The transaction will give the Tanzanian conglomerate control of Oryx’s downstream oil operations in the country, adding established fuel distribution facilities, retail stations and storage infrastructure to its existing energy business.

The agreement, announced by Oryx Energies on October 16, 2026, is part of the Swiss-based company’s review of its downstream investments across Africa. Completion is subject to regulatory approvals and other customary conditions, meaning the transfer has not yet been finalised.

Once completed, the deal is expected to increase Amsons Group’s fuel storage capacity from 300,000 metric tonnes to 800,000 metric tonnes. Its retail network is also expected to grow to approximately 300 service stations across several countries.

Amsons Group Managing Director Edha Nahdi said the purchase would strengthen the group’s position in energy and logistics while creating opportunities to expand its operations in Tanzania.

He said combining the acquired distribution network and storage facilities with Amsons’ existing assets would support domestic fuel security and strengthen Tanzania’s role as a supply and transit centre for East and Central Africa.

Dar es Salaam assets at the centre of the transaction

The acquisition covers Oryx Energies’ downstream operations, including bulk fuel storage terminals, service stations and distribution infrastructure. It also involves equity interests in strategic fuel storage partnerships, including the Tanzania International Petroleum Reserves Limited (TIPER) facility in Dar es Salaam.

TIPER is an important part of Tanzania’s petroleum infrastructure. Its location in Dar es Salaam connects fuel imports arriving through the port with distribution networks serving the domestic market and neighbouring countries.

For Amsons, gaining access to established storage and distribution facilities offers a faster route to expanding its operations than developing an equivalent network independently. The assets could also improve its ability to coordinate fuel imports, storage and deliveries to customers.

However, the increase in storage capacity does not automatically translate into higher sales or profits. Returns will depend on fuel demand, operating expenses, competition, transport costs and the company’s ability to use the additional facilities efficiently.

Oryx Energies Chief Executive Officer Moussa Diao said Tanzania had been an important market for the company over the years. He expressed confidence that Amsons would build on the existing business and create opportunities for employees, customers and business partners.

The sale also reflects a change in Oryx Energies’ investment priorities. The company said it intends to focus its capital and resources on developing energy infrastructure across Africa and strengthening its trading activities.

Until the transaction is completed, Oryx Energies will continue operating in Tanzania as usual.

Acquisition builds on Amsons’ regional investments

The deal adds to Amsons Group’s expansion across several industries, including petroleum, cement manufacturing, logistics and food production.

In Tanzania, the company has acquired Mbeya Cement, while in Kenya it has pursued major investments in the cement sector through Bamburi Cement and East African Portland Cement Company.

The group has also announced plans for a 1,000-megawatt solar investment in Zambia, broadening its interests beyond conventional fuel supply.

These investments give Amsons exposure to industries that require substantial transport networks, energy supplies and storage facilities. Its expanding petroleum operations could support the movement of fuel to industrial customers and markets across the region.

For Tanzania, the proposed acquisition would place Oryx’s established downstream business under a company with existing operations in the country. For Amsons, it represents a major addition to its energy portfolio and strengthens its ability to compete in petroleum distribution.

The transaction’s next stage will depend on regulatory clearance and the fulfilment of the conditions agreed by the two companies. Until then, the planned increase in storage capacity and retail outlets remains subject to completion of the deal.