The Competition Tribunal in south Africa has approved a takeover of Engen by Dutch-Swiss commodities group Vitol Energies, but has imposed a raft of conditions, including procuring locally refined products, and boosting black ownership in the value chain.
In a recent report, petroleum giant Engen was and still is under fire for allegedly side lining black-owned fuel companies, leaving them to grapple with the remnants while white-owned companies allegedly feast on the bulk.
Black fuel resellers, who spoke to the IOL on condition of anonymity as they fear losing the rest of their business, claim that a staggering three to four million litres of product are consistently allocated to white owned businesses, leaving a void for others.
The allegations didn't stop there. Engen's downstream products, once a thriving sector for diverse players, is now said to be monopolized by these white-owned firms, pushing previous beneficiaries out of business.
The allegations are contained in an extensive complaint laid with the Competition Commission and has been seen by IOL.
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