Ahmed Hashi, the entrepreneur behind Hashi Energy Limited, has achieved remarkable success in the energy industry, transforming from a humble kerosene distributor to a billionaire.
Meet Kenyan billionaire who rose from selling kerosene in jerry cans
Ahmed Hashi built a billion-shilling company but is now on the brink of auction over a Sh5 billion debt
His journey is a testament to his determination, business acumen, and ability to identify untapped opportunities in challenging markets.
Hashi Energy Limited, formerly known as Hashi Empex Limited, was founded by Ahmed Hashi in Kenya.
Recognizing the potential for business growth in remote and unstable regions, Hashi started the company as a kerosene distributor for Chevron Kenya.
Using kerosene jerry cans, he supplied African regions such as Rwanda and the Democratic Republic of Congo (DRC) markets.
In the mid-1990s, Hashi Energy Limited expanded its operations by acquiring depots in western Kenya.
This strategic move allowed the company to better serve the local market and expand its reach to the export market in East and Central Africa.
The company's core business shifted to importation, distribution, and marketing of petroleum products, including bulk trading, petroleum depots, distribution networks, and service stations.
In 2008, the company underwent a rebranding and became Hashi Energy Ltd. Under Ahmed Hashi's leadership, the company continued to grow and diversify its portfolio of services and products.
The firm expanded its activities into various geographical locations and ventured into remote logistics, engineering, and food supply.
One of the significant milestones for Hashi Energy Group was winning a prestigious United Nations Fuel Supply contract in the Democratic Republic of Congo in 2015.
This achievement solidified the company's reputation and opened doors to new opportunities. Hashi Energy Group has since grown its clientele, serving governments, NGOs, and the private sector
Financial troubles and staring at an auction
Ahmed Hashi's financial troubles started in 2023, when it was reported that his company was facing a significant debt of over $35 million (Sh5 billion).
The auction is scheduled for August 15, 2023, and will include properties in major towns such as Nairobi, Nakuru, Kisumu, Eldoret, and Mombasa.
Ecobank is reportedly owed billions of shillings by Hashi Energy and has moved to recover the debt by putting up the company's prime properties for auction.
The properties worth billions of shillings will be auctioned off to cover a portion of the outstanding debt
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