OCP Kenya responds to public accusations

Executive Corner

OCP Kenya responds to public accusations

Special Correspondent - June 25, 2018

OCP Kenya expresses its surprise at the accusations made against it and its directors concerning the importation into Kenya of fertilizers that were...

MOST POPULAR

Bayer East Africa partners with Kenyatta National Hospital to promote the...

May 16, 2022

Binance cryptocurrency exchange opens in Uganda

October 24, 2018

Nestlé provides over KSH 360 million for COVID-19 relief in Central...

May 4, 2020

Delivering hope and saving lives: Reflections on maternal health progress in...

January 23, 2025

HOT NEWS

Gadgets

Ecobank Group Empowers Women Businesses through Ellevate, its new women-focused programme

Gadgets

Winner announced for AfDB “African Utility of the Future” Competition

The National Oil Corporation of Kenya Ltd (NOC) has entered into a strategic partnership with RUBiS Energy Kenya, marking a significant milestone in the enhancement of Kenya's oil and gas sector. This collaboration follows the successful completion of the Specially Permitted Procurement Procedure (SPPP) for a non-equity strategic partner, in compliance with the Public Procurement and Asset Disposal Act, 2015 (PPADA). During the signing of the agreement, Hon. Opiyo Wandayi, Cabinet Secretary for Energy and Petroleum, expressed enthusiasm about the partnership, stating, "This collaboration marks a transformative step in strengthening the National Oil Corporation of Kenya, enhancing its capacity and creating long-term value for the citizens of this great republic. With this renewed profitability, the Corporation will be well-positioned to generate returns and, in the future, begin paying dividends to its shareholder." Leparan Ole Morintat, CEO & Managing Director of NOC, highlighted the industry's challenges, noting, " “This sector is highly complex and capital-intensive, requiring substantial investment and operational flexibility to stay competitive. Given the significant demand for government resources, securing shareholder capital injection was not feasible. As a result, NOC sought a non-equity strategic partner to provide the financial support and technical expertise needed to revitalize the company and restore profitability. This process, initiated in 2019, has now culminated in the selection of RUBiS Energy Kenya as our non-equity strategic partner.” The partnership is a key component of NOC’s broader turnaround strategy, which aims to scale up its downstream operations and strengthen its position in the petroleum products trading and marketing space. NOC’s turnaround plan is designed to ensure security of petroleum supply, stabilize fuel prices, and reduce the cost of living and doing business in Kenya. The partnership will also aid in clearing legacy debts and improving financial sustainability. As a non-equity strategic partner, RUBiS Energy Kenya will provide financial support, working capital financing, market development initiatives, and capital expenditure (CAPEX) financing for rebranding, rehabilitation, and expansion of NOC’s retail network. The partnership also encompasses training, capacity building, skills transfer for NOC staff, the deployment of a new Enterprise Resource Planning (ERP) system to improve business processes and customer experience, and collaboration in the fuel card business to enhance customer engagement and service delivery. Olivier Sabrié, CEO of RUBiS Energie East Africa and Managing Director of RUBiS Energy Kenya, emphasized the importance of strategic partnerships, stating, “In today’s dynamic market environment, collaborations are key to driving growth and success. By leveraging diverse expertise, resources, and networks, we can create a competitive edge and generate value for all stakeholders involved. RUBiS Energy Kenya is committed to supporting the Corporation through working capital financing, management and branding support, and transferring critical capabilities and skills to the National Oil team.”

News

NATIONAL OIL CORPORATION ANNOUNCES RUBIS ENERGY KENYA AS THE NON-EQUITY STRATEGIC...

Executive Corner

Tag: Fake Fertilizer in kenya

OCP Kenya responds to public accusations

MOST POPULAR

Bayer East Africa partners with Kenyatta National Hospital to promote the...

Binance cryptocurrency exchange opens in Uganda

Nestlé provides over KSH 360 million for COVID-19 relief in Central...

Delivering hope and saving lives: Reflections on maternal health progress in...

HOT NEWS

Ecobank Group Empowers Women Businesses through Ellevate, its new women-focused programme

Winner announced for AfDB “African Utility of the Future” Competition

NATIONAL OIL CORPORATION ANNOUNCES RUBIS ENERGY KENYA AS THE NON-EQUITY STRATEGIC...

Africa Innovation Summit II – AIS welcomes Development Bank of Southern...