Matrix Petroleum expands into SA market

Matrix Petroleum, a multinational conglomerate currently operating in Zimbabwe, eSwatini, Zambia, Botswana, Mozambique, and the Democratic Republic of the Congo, is now setting its sights on expanding into the South African market. The move comes as part of the company's strategic plan to capitalize on opportunities in Africa's energy sector and address specific shortages in the region. In a recent interview with CNBC Africa, Malvin Chiwanga, the CEO of Matrix Petroleum, shed light on the company's expansion plans and its focus on wholesale petroleum products. Chiwanga highlighted that the decision to enter the South African market was a result of the timing and an identified need during the pandemic. The company aims to provide competitive pricing and expand its presence to 15 countries in Africa by the end of the next year. Despite the complexities of navigating different legal frameworks and regulations in each country, Matrix Petroleum remains committed to establishing a strong foothold in South Africa and beyond. Looking ahead, the company is also exploring opportunities in renewable energy distribution, with a focus on Namibia as the first step in this direction. Chiwanga emphasized the company's commitment to evolving with the changing energy landscape and becoming a leader in renewable energy solutions across the continent. With plans to expand further into countries like Tanzania, Matrix Petroleum's entry into the South African market marks a significant milestone in its regional growth strategy.