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June 8, 2017

Hass Petroleum Group aims to expand after selling 40% of its ownership to Oman Trading International.

Hass Petroleum Group has sold 40% of its shares to Oman Trading International (OTI) in a move that will see the Kenyan oil marketing company embark on its strategic growth and expansion plans across the Eastern, Central and Horn of Africa.

The Group will invest the additional funding from the transaction to enhance its market visibility through new distribution assets specifically Service Stations across its key markets in the region. It will also boost the marketer’s working capital and increase competitiveness in the Open Tender System. In turn, OTI will provide its supply and trading capabilities to strengthen the Hass service offering, enhance services to consumers and contribute to economic growth across the region.

Hass 2

The Hass founder and management team will continue to operate the business and work closely with OTI to grow and continue long-standing relationships with customers, suppliers and regulators.

This acquisition is in line with the respective companies’ long-term strategies.  OTI’s strategic priority of accelerating its growth by entering new emerging markets with high potential will fit well with Hass’s aspiration of being Africa’s leading oil marketing company.  As a regular supplier of refined products to the Southern and East African region, this transaction will enable OTI and its new partner Hass to strengthen their businesses across a substantial African footprint.

The completion of the transaction remains subject to approval by the relevant regulatory authorities in the various countries in which Hass operates in.

Abdinasir Ali Hassan Chairman and founder of Hass, commented, “I am delighted to conclude this transaction with OTI. I am convinced that this partnership is a major step in ensuring Hass’ continued competitiveness across the region and I am confident that with OTI we can achieve our mutual long term growth aspirations.”

Talal Hamid Al-Awfi, CEO of OTI, has expressed his satisfaction at the conclusion of the deal “We are delighted to move onto the next phase of growth for OTI, agreeing our first major investment into Africa with Hass.  Hass is a unique business with substantial scale and growth potential where we have enjoyed a long standing relationship; most importantly we share a common understanding and vision of the African energy market.”

Standard Advisory London Limited, a member of the Standard Bank Group (“Standard Bank”) acted as exclusive financial advisors to OTI and KPMG Advisory Services Ltd Kenya acted as exclusive financial advisors to Hass.

Airtel Uganda gives subscribers unlimited calls during Ramadhan period.

Telecommunications giant, Airtel Uganda recently launched a promotion in an effort to give back to the Muslim community in Uganda. Dubbed Ramadhan Promo, the telecommunications company is giving subscribers unlimited calls from midnight to 6am for as little as UGX 500/-.

In a bid to provide extra value for its customers, Airtel Uganda has also added free 50MB data to enable subscribers have access to the internet from midnight to 6am.

Speaking about the Ramadhan promo, Airtel Uganda Marketing Director Mr. Indrajeet Singh Kumar said,

“We understand the importance of the Holy Month of Ramadhan to our Muslim customers as one of the five pillars of Islam and a month where Allah’s mercy is abundant. During this period, Muslims unite as one in a quest for righteousness. This promotion therefore enables our customers to stay in touch at the times that matter like prayer and meal times with unlimited calls and free data of 50 MB. They therefore need not worry about costs as we are keen on ensuring they go through the season smoothly.”

To enjoy the Ramadhan promotion, subscribers simply have to load airtime as little as UGX 500/- and get an offer of 30 free minutes and 50MBs. For UGX 1,000/- and above, a customer gets unlimited Airtel calls and 50MBs from midnight to 6am.

This offer is not the first time Airtel Uganda is reaching out to their Muslim subscribers in their Holy month. Every year, the telecommunications company contributes foodstuffs and money to different mosques, charity homes and individuals to enable them have proper meals during this month.

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