ZEN Petroleum, the market leader in supplying high quality hydrocarbon products to the industrial and retail sectors in Ghana, continues to expand its retail presence in Ghana with 24 stations now open across the country with a target of 40 operational stations by December 2020.
Market Growth
Since operations commenced in 2009, the company’s market growth has been consistent and substantial. Led initially by its business in delivering fuel to mines, ZEN now builds from that solid base and sees the rapid involvement of its growth in the retail sector.
From 2010 to 2019, ZEN has had a compounded average growth rate of 24%, compared to a total compounded market growth of just 7%. ZEN’s market growth rate every year exceeds the total market growth, highlighting how the company continues to increase its market share on an annual basis. Notably, ZEN grew its non-mining business by 70% in 2019.
In a statement about ZEN’s retail expansion, Retail Director Prince Awuley states that, “The retail sector will lead ZEN’s continued market growth, and realignment of our customer base moving from B2B to B2C. In 2019 ZEN’s B2C business accounted for 17% of its volumes, and should be over 50% of our volumes from 2022, as we expect to maintain a solid and successful growth of our retail business.” He added, “We are also optimistic about double digit market growth for the next 10 years, driven by the B2C business, which will benefit from increased locations, and our unrelenting commitment to low priced, high quality fuel at the right quantity.”
Expanding Innovation
In September 2019, ZEN opened the first filling station in Ghana designed, constructed and operating in accordance with The Blue Book. It is equipped with double wall tanks, leak detection, overfill prevention, flame arrestors, oil separators and other key safety features. This was done in recognition of the impact of innovation on efficiency, and most importantly in preventing accidents or losses. ZEN has greatly benefitted from The Blue Book, which is produced jointly by the APEA and the Service Station Panel of the Energy Institute (EI), with considerable technical input from other industry stakeholders in the UK.
Other innovation initiatives being implemented by ZEN include; live tracking of all delivery vehicles, call forwarding systems at all depots, including driver and vehicle recognition and automised dipping and stock taking of all inventories in various tanks. Further, there are far advanced plans to also deliver a customer App that provides the latest information on network, pricing and offers, as well as improving on mobile payment systems already deployed to our outlets for convenience and to enhance safety associated with cashless transactions at the retail stations.
In addition to innovation and expansion efforts, all of ZEN’s existing stations are undergoing major refurbishments to create a network of modern user-friendly stations, where safety and customer service are at the forefront of the design.
Delivering The ZEN Way
Available to customers across retail network are ZEN’s quality lubricants, in addition to a convenience shopping option and other vital ancillary services.
ZEN celebrates 10 years of operations in 2020, having attained enviable status as one of the Top 4 OMCs in Ghana and as the market leader in supplying Fuel and Lubricants to mines across the country.
