Oryx Energies, the Switzerland-based energy group, has agreed to sell its downstream business in Zambia to local energy company Horizon Energies Limited, marking its fourth announced asset sale in Africa in less than 20 days as it continues to restructure its downstream portfolio.

The agreement, announced on November 3, 2026, forms part of Oryx Energies’ ongoing strategic review of its downstream operations across the continent. The review is aimed at aligning the Group’s activities with its long-term priorities while redirecting capital and resources towards energy infrastructure development and stronger trading activities.

Horizon Energies, a Zambian company active in the supply and distribution of petroleum products, operates across fuel distribution, logistics and retail services. Its local market knowledge and experience in the energy sector are expected to support continuity and the future development of the business.

Oryx Energies shifts downstream assets to African operators

The Zambian transaction reflects Oryx Energies’ strategy of transferring selected downstream operations to African companies with the local expertise and capabilities to develop them further.

The Group said it remains committed to Africa, with its focus increasingly directed towards developing energy infrastructure across the continent and strengthening its trading activities.

The sale is subject to the necessary regulatory approvals and other customary conditions. Until the transaction is completed, Oryx Energies will continue operating in Zambia as usual, maintaining services to customers and partners and ensuring the safe and reliable delivery of its products.

Tanzania and West Africa deals accelerate portfolio review

The Zambian agreement follows three other asset-sale announcements by Oryx Energies since October 16, highlighting the pace of its portfolio restructuring. On October 16, the Group signed an agreement with Amsons Group for the sale of its downstream oil business in Tanzania. Five days later, on October 21, it announced a separate agreement with ASAS Energies for the sale of its Tanzanian gas business.

Both transactions form part of the same strategic review, through which Oryx Energies is seeking to align its downstream portfolio with its long-term priorities while maintaining its broader commitment to the African energy market.

The Group subsequently announced another agreement on October 28, covering its downstream businesses in Mali, Côte d’Ivoire and Togo. The buyer, Niangadou Distribution Compagnie SAU (NDC), is an established Malian energy company with experience in petroleum product imports, distribution and logistics. NDC’s regional presence and understanding of the West African energy market are expected to support the development of the businesses across the three countries.

Four agreements signal a wider strategic shift

The four announced transactions in Zambia, Tanzania and West Africa represent a significant step in Oryx Energies’ review of its African downstream operations.

Rather than exiting the continent, the Group says it intends to concentrate its resources on energy infrastructure and trading, while transferring selected local distribution businesses to African operators better positioned to manage their development.

The Zambian sale adds another market to this transition, with Horizon Energies set to take forward the operations once the required approvals and completion conditions have been satisfied.