Oando Gas and Power has announced the rebranding of the company and change of its corporate identity to Axxela Limited. The rebranding of Oando PLC’s Midstream business subsidiary was said to be in a bid to renew its ambition and strategic growth plan.
This change was not entirely unexpected following last year’s acquisition of a controlling equity stake in the business by Helios Investment Partners LLP (“Helios”).
Since then, it had become almost inevitable that the company would seek to change its corporate identity to reflect the new share composition, Nairametrics reported.
According to Chief Executive Officer, Axxela, Bolaji Osunsanya, the benefits of the re-branding process and change of identity include strategic partnerships to deliver value-adding energy solutions to the company’s customers; facilitation of sustainable economic development in the company’s chosen markets; and re-introduction of the company’s business to the market while demonstrating the far-reaching impact of their operations.