Harare's city-scape is rapidly evolving, with new fuel stations sprouting across its suburbs. Construction of service stations is at its peak, with the Zimbabwe Energy Regulatory Authority (Zera) issuing more than 3 300 retail licences over the last four years in line with a rise in the density of vehicles.
Rising fuel demand has created new investment opportunities and ignited a rise in new entrants.
This week, economists attributed the sector’s expansion to growth in vehicle population, and the deregulation of the sector, which has created room for private capital.
A plethora of business people grabbed the opportunity to build and open service stations, with new players now more visible in a market that was previously dominated by multinationals, including British Petroleum, Shell, Total Energies and Caltex.
On a stretch of about eight kilometres along Waterfalls Road in Harare, about five new brands have recently established shop, joining three bigger brands that had already been operating there.
These include the exponentially expanding Energy Park and MAP.
Service stations have also spouted along Simon Mazorodze Road, with Total Energies, Puma, and Zuva service stations dominating the area.
Economist Vince Muswere said investors were being attracted by stability in the sector. He, however, noted the prices of fuel remain uncompetitive.
Full story at Investors bet on fuel service stations - The Zimbabwe Independent (newsday.co.zw)
Share this:
