Engen profits drop by P83m after oil import shift :: Mmegi Online

Regulatory changes granting a parastatal the right to import 90% of Botswana’s petroleum products, have eroded P83 million from Engen Botswana’s profit before tax, a development the petroleum retailer says poses a major risk to its business.

Engen which operates 71 service or “filling stations” across Botswana, experienced sharp pressures on their margins in the full year 2024 with their pretax profits declining from P193.9 million in 2023 to P111.0 million in 2024, an overall decline of 42%.

In the group’s latest annual report, industry insiders said the steep decline was due to policy changes that terminated fuel import licenses giving a 90% import mandate to government-owned Botswana Oil. This has since meant that retailers like Engen are now forced to procure petroleum products such as Unleaded 93 and Diesel from BotsOil exclusively.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

ENGEN

Mogae: The intellectual democrat

BDF sheds off bad boy tag for Mogae

Engen profits drop by P83m after oil import shift

Regulatory changes granting a parastatal the right to import 90% of Botswana’s petroleum products, have eroded P83 million from Engen Botswana’s profit before tax, a development the petroleum retailer says poses a major risk to its business.

Explore

More

CANAL+ Group Meets Premier Soccer League to Strengthen Relations with Local Football League

The Ultimate Dramatic Climax: DStv Opens Access to the Historic Final Day of the Premier League for All Subscribers

BGI under fire over multi tenders awarded to one consultancy

Political fame costs family time

Mogae: The intellectual democrat

BDF sheds off bad boy tag for Mogae

Botswana, SA demand results in agreements

SA seeks increased presence of Botswana companies

Warm relations must not come at the expense of fair trade