Oando Gas & Power Limited (OGP), a midstream business subsidiary of Oando PLC, has announced change of corporate identity and branding to Axxela Limited.
The rebranding is coming on the heels of a 75 percent (US$115.8 million) acquisition of its equity by Helios Investment Partners LLP (Helios), a frontline Africa-focused private investment firm.
Bolaji Osunsanya, Axxela chief executive officer, said the move is a reaffirmation of the company’s operational independence “as we become sub-Saharan Africa’s preferred and fast-growing gas & power portfolio company.”
He emphasized that the current effort would help the company influence strategic partnerships to deliver value adding energy solutions to customers, whilst enabling sustainable economic development in 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,” he noted.
The name also illustrates the company’s determination to be an indispensable energy player via its insights-driven approach and inventive team ethos.
Axxela is the pioneer developer of Nigeria’s premier 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 constructed, 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 largest integrated energy solutions provider with a proud heritage. It has a primary listing on the Nigeria Stock Exchange and a secondary listing on the Johannesburg Stock Exchange.
Frontpage September 4, 2019