OOMCO eyes foray into Tanzanian retail market

Jomar Mendoza –
MUSCAT, JAN 15 –
Having made a successful foray into the Saudi market, Oman Oil Marketing Company SAOG (OOMCO) says it is investigating opportunities to invest in the Tanzanian fuel retail market as well as the SFS (shop, food and services) market. The proposed move, the company said, is fuelled by the positive macroeconomics of the Tanzanian market, stable political environment and political will that encourages investment.
This was revealed yesterday by OOMCO in its filing to the Muscat Securities Market.
“Navigating near markets is one of our pillars to drive the company growth in the long run. Based on that OOMCO has entered the Saudi Arabian market with two service stations. Tanzania is our new destination: our expectation is to have the first service station within this year,” the company added.
Given the projected growth in vehicles and robust macroeconomics forecast for the next ten years, OOMCO is looking at sustainable investment and suitable partners.
Recently, OOMCO made public its organisational roadmap for the company’s future within the region and beyond. Implementing a forward-thinking strategy, the company is exploring new investment, joint ventures and growing non-fuel revenue while continuing to invest in human capital in order to be part of the top 5 marketers in the GCC by 2025.
Going beyond the pump, OOMCO is looking to build brand that provides more than just fuel, it is creating an unparalleled chain of service hubs that provide access to integrated offerings including shopping, food products and services.