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Kenya's KenolKobil plans southern Africa expansion

Published 11/10/2010, 03:16 AM
Updated 11/10/2010, 03:20 AM

* Kenolkobil to open Harare office on Jan 1

* Company seeking expansion in southern Africa

NAIROBI, Nov 10 (Reuters) - Kenya's KenolKobil plans to open an office early next year in Zimbabwe, having registered a company in Mozambique, and has begun scouting for business opportunities in both countries, it said on Wednesday.

The fuel marketer said the move would consolidate its presence towards the southern Africa region. It plans to open its Zimbabwe office on Jan. 1, 2011. [ID:nLDE66P1NC]

"The move will support growth outside Kenya in line with the company's diversification strategy, and enhances KenolKobil's position as a key player in the East, Central and Southern Africa's downstream oil business," it said in a statement.

KenolKobil has commissioned two Liquid Petroleum Gas (LPG) filling plants, one in Uganda and one in Rwanda, to support the strong growth of its LPG brand K-gas in the two markets, the company said.

Shares in the company traded at 10.85 shillings a share as at 0810 GMT, up from 10.80 at Tuesday's close. (Reporting by Richard Lough; Editing by James Macharia and Jon Loades-Carter) (for more Reuters Africa coverage and to have your say on the top issues, visit: http://af.reuters.com)

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