Liberia’s Conex Oil and Gas Holdings Limited (Conex) on Wednesday March 25, 2020 signed an agreement with Total to acquire Total Liberia and Total Sierra Leone, which are leaders in the importing and marketing of petroleum products throughout their respective countries through the industrial and wholesale channels under the trademarks pertaining to the Total group.
Conex said this transaction represents “a unique opportunity for Conex to become a market leader in the fuel marketing business in West Africa with specific emphasis on the Mano River Union, due to Total Liberia and Total Sierra Leone leading positions as vendors of fuel in the aviation industry.”
The company said several international firms participated in this competitive bidding process which was conducted in compliance with Total Group’s rules and standards.
“…I am pleased that Conex, a Liberian entity, emerged successful in the acquisition. We are excited about the expansion of Conex throughout these countries because this will create jobs and promote development in the areas into which we expand,” Conex’s CEO and Chairman Cherif Abdallah stated.
“During his inaugural message on January 22, 2018, our President, Dr. George Manneh Weah called on all Liberians to not be spectators in their own country but to take bold steps to create businesses and be a part of our country’s economic and developmental growth. We at Conex, heard this message loud and clear. That is why we are here today. Our hope is that this achievement will encourage and motivate other Liberians to move in and begin the job of developing our private sector. It is time for local actors to actively participate in their economies,” Abdallah said.
Conex is a 100 percent Liberian owned company that provides capital resources, support and highly skilled and talented management teams in the investees’ companies.
Conex is the holding company for a group of companies operating, primarily in West Africa and headquartered in Liberia with representative offices located in Sierra Leone, Guinea, Ghana, Nigeria and the UAE as well as Switzerland.