ZUVA Petroleum says it has spent about $6 million on rebranding its units adding that the exercise would be completed by the first quarter of 2016.
BY MTHANDAZO NYONI
The company has a $20 million kitty it secured from Nedbank London to rebrand its 72 service stations across the country. Last week, Zuva launched its Mac’s main service station in Bulawayo.
In an interview with NewsDay on the sidelines of the launch of a rebranded Zuva service station in Bulawayo, the company’s chief executive officer Bethwell Gumbo said they had spent about 30% of the $20 million. He said the whole exercise should be completed in the first quarter of 2016.
“In Bulawayo, we have about 12 service stations and we hope to complete rebranding them in the next three months,” he said.
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Gumbo said the rebranding exercise was meant to increase the company’s market share in the highly competitive petroleum industry currently dominated by Total Zimbabwe and Engen.
Gumbo said they had installed state-of-the-art pumping systems at all their service stations and that has made them a key player in the market and “we have created a brand that will appeal to the local market and abroad”.
The company has more than 10 depots including an aviation as well as AP gas laboratory in the entire country.
He said there were plans to open more service stations in the region and beyond.
Zuva Petroleum was once BP & Shell Marketing Services. It rebranded to Zuva after Masawara acquired BP & Shell assets in 2010.
Last year, a consortium led by FBC group chief executive officer John Mushayavanhu snapped up a controlling shareholding in Zuva from Masawara in a deal worth close to $30 million.