Togo’s Zener International Holding (ZIH) is making a strategic leap in West Africa’s energy sector with its acquisition of Petrogal Guinea-Bissau’s assets, previously owned by Portugal’s Galp Energia. Valued at CFA 13.5 billion, the transaction was structured by Ecobank through its investment division, EDC Investment Corporation, and marks a significant shift in regional energy ownership. As global energy majors gradually pivot toward low-carbon portfolios and exit certain African markets, ZIH’s expansion signals a growing wave of African-led investment and operational leadership in the continent’s energy future.
The assets acquired span a vital network of infrastructure, including petrol stations, fuel and gas depots, and aviation storage facilities across Guinea-Bissau. These are managed through subsidiaries such as Petromar, which oversees fuel and lubricant distribution; Petrogas, responsible for LPG storage and filling; and CLC GB, which handles petroleum product transportation and storage. This acquisition not only strengthens ZIH’s operational footprint but also positions the company to play a central role in stabilizing and expanding Guinea-Bissau’s energy supply chain.
ZIH Chairman Jonas Aklesso Daou emphasized that the acquisition represents more than a business deal—it is a long-term commitment to building locally invested, forward-looking energy solutions in a high-potential market. This vision aligns with ZIH’s broader strategy to promote sustainable growth and regional integration. Supporting this ambition, the International Finance Corporation previously granted ZIH €16.2 million in 2022 to expand LPG storage capacity, establish service stations equipped with gas cylinder exchange modules and solar kits, and enhance energy transition infrastructure.
The financing for the Petrogal acquisition was arranged in local currency and syndicated with several regional financial institutions, including a CFA 5 billion contribution from the West African Development Bank (BOAD). This collaborative approach reflects a growing trend toward strengthening African capital markets and anchoring development within the region. Ecobank’s Regional Executive Director, Paul-Harry Aithnard, noted that the transaction affirms the bank’s commitment to supporting visionary African companies capable of executing transformative projects in key sectors.
This acquisition is emblematic of a broader restructuring in Africa’s energy landscape, where local firms are increasingly stepping into roles once dominated by international corporations. By securing Petrogal Guinea-Bissau’s assets, ZIH is not only expanding its operational reach but also contributing to a more dynamic, interconnected, and sovereign energy ecosystem across West Africa. The move underscores the potential of African enterprises to lead the continent’s energy evolution with innovation, resilience, and strategic foresight.