Montfort Group has announced the complete acquisition of Kencor Petroleum Limited (Kencor), an oil marketing company based in Nairobi, Kenya. The company was bought from Galana Petroleum Investment Ltd.
This acquisition marks Montfort’s strategic entry into East Africa, one of Africa’s major markets. The acquisition of Kencor, an active participant in Kenyan Open Tender System (OTS) imports, is the first step to achieving Montfort’s goal of expanding its operations into the region and neighbouring countries.
The move is in line with Montfort’s roadmap and lays a strong foundation for the company’s aspirations of acquiring and developing a portfolio of high growth potential operations in Africa.
Montfort is a group of companies with a diverse portfolio of commodity related businesses, run by efficient management with decades of experience in commodity trade.
One of the key focus of the Group is to drive the sector’s market growth by leveraging their unparalleled experience and reputation in delivering quality products to the global market while investing in an asset base that supports fulfilling energy needs to the end consumer.-- TradeArabia News Service