Home ECONOMY What a Christmas?! Matatu Driver, Conductor Win Ksh5.2 million Bus

What a Christmas?! Matatu Driver, Conductor Win Ksh5.2 million Bus

by biasharadigest

A
matatu driver and his conductor are the owners of a brand new 32-seater matatu
valued at Kshs 5.2 million.

The
bus was given by Vivo Energy Kenya as curtains closed on the 10-week Weka
Collabo promotional campaign.

15
consumers were awarded motorbikes valued at Kshs 4.5 million as the company
that markets and distributes Shell-branded fuels and lubricants sought to
reward loyal customers and sensitize matatu drivers, conductors and ‘Boda Boda’
riders on Shell fuels and lubricants.

Speaking at the award ceremony, Vivo Energy Kenya Retail Manager Badawi Reda said: “The public commuter transport continues to be a key driver of our economic development as it provides service to millions of Kenyans a day. Our role as an enabler is to provide wealth creation, employability and foundation within which a new paradigm can be created in this sector. Weka Collabo was an exciting campaign that enabled us to gain insights on how to propel this sector by driving entrepreneurial spirit among our youth whilst propagating our education agenda on Shell fuels and lubricants usage.”

(L-R) Weka Collabo Winner Laban Ngugi, Vivo Energy Kenya Retail Manager Reda Bedawi and Conductor Boniface Njuguna in their new 32-seater Isuzu Matatu. [Photo/Vivo]

Badawi
disclosed that Vivo Energy continues to gain stature and the success of its
growth strategy is embedded in its ability to remain relevant to its customers,
every day. He noted that the campaign provided opportunities to the youth to
consider ‘Boda Boda’ and matatu business as alternatives source of income.

The
company’s Country Marketing and Consumer Care Manager Mark Senteu said the future
growth of the Kenyan economy will require massive amounts of investments on key
sectors like the public transport industry.

“As
such, we are keen in empowering our youth so that they can contribute to the
socio-economic development of this great nation,” he added.

Weka Collabo” which loosely translates to ‘Get a partnership” is derived from urban slang that was coined to celebrate the unique relationship and comradery that exists between drivers and conductors in Kenya’s public commuter systems.

Acquisition Spree

In September last year, Vivo Energy plc concluded its expansion to nine countries after reaching an agreement with Engen Holdings (Pty) Limited to restructure the acquisition of Engen International Holdings (Mauritius) Limited by Vivo Energy’s subsidiary, Vivo Energy Investments B.V.

The
transaction cost Vivo Energy US$203.9 million (Ksh 20 billion).

The
restructured transaction added operations in eight new countries and over 225
Engen-branded service stations to Vivo Energy’s network, taking its total
presence to over 2,000 service stations, across 23 African markets.

Gabon,
Malawi, Mozambique, Reunion, Rwanda, Tanzania, Zambia and Zimbabwe were the new
markets for Vivo Energy.

Engen’s
Kenya operations, where Vivo Energy was already operating, was the ninth
country included in the transaction.

“As per the agreement on 4 December 2017 and as a result of the restructure of the transaction, consideration in respect of the transfer of EIHL is US$203.9 million, comprising an issue by Vivo Energy of 63.2 million new shares valued at Vivo Energy’s IPO Offer Price of 165 pence per share and US$62.1 million in cash, resulting in EHL holding a circa 5.0% shareholding in Vivo Energy. The cash element of the consideration will be funded by a drawdown on Vivo Energy’s multi-currency facility, established in May 2018,” Vivo Energy said in a statement.

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