BULAWAYO, February 1 (The Source) — Zuva Petroleum says it is already reaping the benefits of its rebranding exercise, with volumes up 10 percent as its new identity resonate better with customers.
The fuel distributor felt the need the need for new colours after a change in ownership of the group in 2014 when a consortium led by FBC group chief executive John Mushayavanhu snapped up a controlling shareholding in the group from Masawara plc in a deal worth nearly $30 million.
Masawara had acquired the 73 former BP & Shell Marketing Services assets in 2010.
The rebranding exercise is 85 percent complete, with $17 million spent so far, chief executive Bethwell Gumbo, told The Source on Monday.
“We are 85 percent complete and we will be done by end of March. We have spent about 85 percent of the $20 million we secured from Nedbank London,” said Gumbo.
Gumbo said they are seeing a noticeable increase in the volumes since the rebranding exercise kicked-off last year.
“We are getting more customers and volumes have gone up by 10 percent because customers are now associating themselves with our brand. They now like it,” he added but declined to give details.
He said the company’s new colours and logo showed that Zuva was environmental friendly as it was close to nature.
He said green was the colour of balance and it represented an evolution from being a scorching sun while silver represented prestige and wealth.
Zuva has also installed state-of-the-art pumping systems at its service stations and will, going forward, increase its product range and expand its network to make a push to increase its market share.
However, Gumbo said he expects 2016 to be tough because of the contracting economy and tightening liquidity.