The oil industry is considered one of the wealthiest industries in the world and only moguls are able to venture into this business. In our feature, we look at who owns Hass Petroleum Group one of the leading oil companies in Africa and has numerous branches outside Africa.
The company’s roots can be traced back to Kisumu county but through hard work and determination, Hass Company now operates in more than 6 African countries and also has branches in London as well as UAE.
Aside from filling stations, the company also offers a variety of services including automated fuel systems and LPG piped gas systems. With all said and done, how did Hass manage to grow from a country-based petrol station to an international corporation?
Who Owns Hass Petroleum Group?
The renowned company was founded in 1997 by two blood brothers, Abdinasir Ali Hassan and his younger brother the late Abdirizak Ali Hassan. Ali Hassan is a Kenyan businessman of Somali descent and is currently sitting as the chairman of the group while Mohamud Salat, a young leader is sitting as the Chief Executive Officer of the group.
According to Ali Hassan, the company was established in 1997 just before the 1998 El Nino that destroyed the fuel transportation of the neighboring country, Tanzania. Following the destruction, the lake region fell short of fuel and as usual, the demand for the product rose to attract the attention of Ali Hassan and his brother who at the time was in Mwanza, Tanzania.
After five years of operation, the company built its first gas station in 2002 in now Kisumu County.
Selling Company’s Shares
After operating the company for over a decade, in 2017 the company decided to hunt for a partner that would enable the business to move to the next level. The management of the company was able to find a worthy partner, Oman Trading International, an oil company owned by the government of Oman.
The Omani-owned oil company acquired 40% of the company’s shares and went on to pump in finances to enhance the growth of the company. Some of the new developments that were witnessed following the partnership were setting up depots and they also managed to enter the tight race of competing for bids to import oil into the country.
In 2018, the company launched a new Petrol Station along Juja road which serves thousands of customers hailing from that region. Currently, the company has storage facilities in Kenya, Tanzania, Uganda, DR Congo, Somalia, South Sudan, and Zambia. The facilities are also available to customers as well as partner oil marketing companies for lease.
On top of that, they also have an automated fuel system which includes fuel cards, Point of Sales (POS), pump automation as well as automatic tank gauging. Hass is also the primary supplier of fuel to Jambo Jet one of the biggest local airlines. According to the airline’s management, Hass is reliable thus making it easier for their business to run through.
Abdinasir Hassan Wealth and Business
The Somali-Kenyan tycoon is one of the richest individuals in Africa with an estimated net worth of Ksh 50 billion. However, despite being a Kenyan native he currently resides in London and UAE. Aside from investing heavily in the oil and gas industry much is not known about his other ventures.