Africa’s lubes market beaming with growth opportunities

VOL 49 • JUNE 2024

Welcome to the 49th edition of Lubezine. We bring you updates that have been happening in the second quarter of 2024 in the lubricants industry in the African continent and globally.

The African continent has been abuzz with activities by lubricants and additives companies aiming to strengthen their presence. Given its great potential and projected growth rate, Africa is a very attractive market for companies looking to grow their business and widen their footprint.

IMCD Kenya, a distributor of Lubrizol additives in East Africa, held a lubricants and energy conference in Nairobi, Kenya. The event aimed at bringing cutting-edge Lubrizol additives technology closer home, highlighting the importance of using high-quality lubricants and creating awareness on the role additives play in manufacturing these lubricants. Lubrizol also discussed the product range available for the East African market.

Further north, in Egypt, Valvoline Global, part of Aramco, also conducted an official launch event for its entry into the market. Ready Parts Egypt, a manufacturer and distributor of motor vehicle parts, distributes Valvoline lubricants.

Still, in Africa, German lubricant manufacturer FUCHS Group is expanding its scope in Africa through a name change. At the same time, Vivo Energy has finalized the acquisition of Engen to form Africa’s second-largest oil marketing company. All these activities are a testament to the potential for growth that lies in Africa’s lubricants market, and it is exciting to see all the developments happening.

Nigeria is one of the largest lubricant markets in Africa. To gain insight into the market, we feature a company, Tethys Limited, a brand licensee of Texaco lubricants. Through Tethys, we understand what it takes to produce and market an international lubricant brand locally. We also interview Mr. Ajay Pandey in the professional interview segment. He is a seasoned lubricant professional with

30 years of experience, 15 of which he spent in Nigeria. Mr. Pandey talks about Nigeria’s lubes market, its opportunities, challenges, and the changes it has witnessed over the years.

To wrap up this edition, we look at Kenya’s lubes market challenges. While the African continent has immense growth potential, challenges must be addressed. Written by one of Kenya’s most seasoned lubricant professionals, Mr. Mohammed Baraka, the Managing Director of Synergy Lubricants in Kenya, this article looks at some of the major obstacles that are affecting the industry. Mr. Baraka talks about counterfeits and regulations that need to be looked into to help the lubricant industry grow even further.

The above is just a glimpse of the information we have gathered concerning the lubricant industry in this edition. We are thrilled to witness its growth, especially in Africa, and we will always bring you updates as they unfold. .

Enjoy the read.