British Petroleum Southern Africa (bpSA) has sold one of its 100% owned liquid bulk fuels import terminals to black women-owned and managed independent petrochemicals company Wasaa in what is regarded as a landmark transformation deal.
The terminal is located at the Port of East London, in South Africa’s Eastern Cape Province.
Prior to the sale, bpSA had six fuel storage terminals, two 100% owned by bpSA, (one of which is now sold); two (Alrode and Pretoria) jointly owned with Sasol (50/50); one (Island View) jointly owned with Shell (50/50) and one (Rustenburg) owned by Astron (⅓), bpSA (⅓) and Engen (⅓). We invest in our terminal infrastructure to provide world class road and rail gantries, fire-fighting capability, tanks and pipelines.
Johannesburg-based Wasaa is a subsidiary of the Wasaa Group, which was founded and is led by Nokwanele Qonde, aranking South African female entrepreneur.
In line with the agreement, Wasaa Terminals has also acquired 100 percent of the terminal’s movable assets and a 20 percent stake in the berth to terminal pipeline. Sout Africa’s top finance website Moneyweb reports that Wasaa Terminals began taking over terminal responsibilities on December 6, 2021.
bpSA will retain the operations of its transport business operating outside of East London. Wasaawill provide terminal storage and handling services to bpSA in the Eastern Cape port city.