Shell, NEF cooperate on transforming retail petroleum industry
SANEC Board Member Shell is set to change the status quo of retail service stations in South Africa after they announced that they will ensure 40% of its service stations were black owned by 2017. This comes after Shell has signed a cooperative agreement under the support of the Department of Trade and Industry. The agreement has been welcomed with open arms by Bohang Mohale Chairperson of Shell South Africa and SANEC – Johannesburg. Shell's aim was to to select high quality brand ambassadors to receive training by qualified Shell Retail Retainers. The review of the Liquid Fuels Charter revealed that one of the major barriers to entry for black entrants in operating and owning service stations was a lack of access to capital. To address this challenge, the Shell and NEF partnership would result in the provision of funding to black retailers with a majority share of no less than 51%.