Monday, October 09, 2017 11.30am/Proshare WebTV
Oando Gas & Power Limited (“OGP”), the erstwhile midstream business subsidiary of Oando PLC (“Oando”), has formally announced the change of its corporate identity and branding to Axxela Limited (“Axxela”).
The rebranding effort follows the recent US$115.8million acquisition of a 75 percent equity stake in the business by Helios Investment Partners LLP (“Helios”), a premier Africa-focused private investment firm.
Speaking on the rebrand initiative, Bolaji Osunsanya, Axxela Chief Executive Officer said: “This is a reaffirmation of our operational independence as we become sub-Saharan Africa’s preferred and fast-growing gas & power portfolio company. It enables us leverage strategic partnerships to deliver value adding energy solutions to our customers, whilst facilitating sustainable economic development in our chosen markets. The change in our corporate identity also gives us the opportunity to re-introduce our business to the market while humanizing the far-reaching impact of our operations.”
In a world of constant re-invention, Axxela, which is coined from ‘accelerate’ and excellence’, focuses on developing innovative solutions to bridge sub-Saharan Africa’s energy gap.
This illustrates its determination to be an indispensable energy player via its insights-driven approach and inventive team ethos.
Axxela is the pioneer developer of Nigeria’s foremost natural gas distribution network and has subsequently grown to become the largest private sector natural gas distributor in Nigeria, delivering at peak, 70 million standard cubic feet per day (“mmscf/d”) to over 175 industrial and commercial customers via a vast network of gas infrastructure. With over 260km in gas pipeline infrastructure built, Axxela provides unique energy solutions primarily through its subsidiaries: Gaslink Nigeria Limited (“Gaslink”), Gas Network Services Limited (“GNSL”), and Central Horizon Gas Company (“CHGC”).
Oando Plc is one of Africa’s leading and largest integrated energy solutions provider. It has a primary listing on the Nigeria Stock Exchange and a secondary listing on the Johannesburg Stock Exchange.