Efora is a South African based company with a pan-African portfolio of assets across the entire industry value chain. Efora’s mission is to produce and distribute essential fuel products across the continent to provide Energy for Africa (EforA).
Efora was incorporated on 1 February 1993 under the name Manga-Chem Products Proprietary Limited. The Company was listed on the venture capital sector of the securities exchange operated by the JSE on 19 October 1994. It was incorporated for the purpose of establishing a manganese sulphate manufacturing and marketing business.
On 6 December 1996, the Company’s name was changed to SA Mineral Resources Corporation Limited.
On 31 December 2007, the Company was restructured and recapitalised, whereby Encha Capital – which was 51% owned by Encha Group at the time – acquired a controlling interest in the Company. Encha Group is an investment holding company with exploration, industrial and property interests. Encha is wholly owned and controlled by black persons.
On 1 December 2008, the Company’s name was changed to SacOil Holdings Limited to better reflect the Company’s new direction. On 12 December 2008, the Company transferred its listing from the venture capital sector of the securities exchange operated by the JSE to the 'Mining - Integrated Oil and Gas' sector of the main board of the securities exchange operated by the JSE.
Since 2014, the Group's focus has been on assembling a diverse portfolio of cash-generative assets and projects throughout the African continent, spanning upstream to downstream. This included the 2014 acquisition of the Lagia Oil Field in Egypt, a crude trading allocation in Nigeria established in 2016, and the acquisition in May 2017 of a controlling interest in Afric Oil, a leading fuel product distribution business in Southern Africa.
On 8 November 2017, the Company formally began trading under the new name of Efora Energy Ltd (“Efora”). The Board undertook a corporate rebranding exercise to reflect the significant evolution of the company and strengthening of its diverse portfolio of assets in the previous years. The name Efora – alluding to an abbreviated form of “Energy for Africa”, aptly reflects Efora’s vision to play a meaningful role in the positive socioeconomic development of the African continent through the provision and distribution of essential fuel products.