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| Ms. Fatma Abdallah, Managing Director of PUMA Energy Tanzania, addresses the media on the company’s 2024 performance and ongoing projects during a press conference at the Treasury Registrar's offices in Dar es Salaam. She announced a 51% profit increase and shared updates on the expansion of LPG and CNG stations nationwide. Looking on are Mr. Mark Russell (center) - Global CEO of PUMA Energy, and Mr. Nehemiah Mchechu (left) - Treasury Registrar. |
Dar es Salaam, May 27, 2025 — PUMA Energy Tanzania, a joint venture between the Government of Tanzania and Puma Investments Limited, is preparing to review its strategic business plan in alignment with a recent shareholders’ agreement, setting the stage for a new growth phase beginning next year.
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The announcement was made during a high-level visit to the Office of the Treasury Registrar (OTR) on May 26, 2025. The visit featured senior executives from PUMA Energy’s global and regional leadership, signaling the company’s strong commitment to Tanzania as a core market in its African operations.
Strategic Realignment in the Works
Nehemiah Mchechu, Treasury Registrar of Tanzania, emphasized the importance of timely strategic realignment to maintain momentum and capitalize on upcoming opportunities.
“The management and the board will have to review the business strategy within this year for us to take advantage of good things starting next year,” said Mr. Mchechu, adding that implementation of the revised plan is slated to begin in January 2026.
The government holds a 50% stake in PUMA Energy Tanzania, with the remaining 50% owned by Puma Investments Limited. The company operates as a subsidiary of Puma Energy Holdings Pte Ltd, part of Trafigura PE Holdings Ltd.
Mr. Mchechu reaffirmed the government’s commitment to the joint venture, calling it a strategic national investment that guarantees Tanzania’s presence and resilience in the energy sector.
“Even in times of crisis, others may shut down — but not PUMA. We’re proud of the dividends received and the company’s performance,” he stated.
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Global and Regional Leaders Pledge Support
This was the first visit to Tanzania by Mark Russel, Global CEO of PUMA Energy, since assuming his role. He was accompanied by Ben Quattara, newly appointed Head of Africa, and Fatma Abdallah, Managing Director of PUMA Energy Tanzania.
Mr. Russel praised Tanzania’s economic potential and underscored the company’s intent to broaden its retail network and product portfolio.
“We want to look at the strategy to see where we can build the business further, offering more to the community through our retail offering,” he noted.
“Tanzania is a very insightful country with many opportunities — including LNG and LPG projects. With the government, we’ll identify and unlock these together.”
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Mr. Quattara highlighted Tanzania’s central role in PUMA’s Africa operations:
“From Africa’s perspective, Tanzania remains a critical and important partner. We want to continue growing, investing, and improving our portfolio here.”
He also emphasized the company’s dedication to inclusive growth, particularly in job creation and social impact:
“The fact that Tanzania is our first visit in these roles clearly shows its importance to us.”
Strong Local Performance and Expansion Plans
PUMA Energy Tanzania’s Managing Director, Fatma Abdallah, reported strong local performance and outlined key infrastructure projects currently underway.
She confirmed that construction of Compressed Natural Gas (CNG) stations is in progress, with operations expected to commence within two to three months.
The LPG business, initially concentrated in Dar es Salaam and Pwani, has now expanded into Dodoma, with plans to extend into Mwanza and Arusha before the end of 2025.
On the financial front, Ms. Abdallah announced a 51% increase in profit for the year 2024, with dividends set to be announced on June 10, 2025.
“Expect big things from PUMA Tanzania in the months and years ahead,” she concluded confidently.
Bottom Line: With renewed strategic alignment, robust partnerships, and significant expansion plans, PUMA Energy Tanzania is poised to reinforce its role as a cornerstone in Tanzania’s energy infrastructure and a key player in the regional energy landscape.
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