Ally Edha Awadh is the Founder of Lake Oil Group, one of Africa’s fastest growing energy trading and transportation conglomerates founded in 2006; now one of the largest distributors of petroleum products in Tanzania.
What else do we know?
- Ally was nominated for the The Future Awards Africa Tony O. Elumelu Prize in Business, 2014.
- After his father had pushed him to stop asking for money, Ally started by flipping burgers at McDonalds after school hours, this he said helped him to build his people-skills.
- After completing his studies in Canada, he ventured into clothing business and started importing used clothes from Canada to sell in Tanzania.
- At the age of 26, Ally applied for a license at the Petroleum Bulk Procurement Agency (PBPA) in Tanzania to import refined petroleum products. It is after then that Lake Oil Group was founded – a company that now has trading operations and gas stations in Rwanda, Burundi, Mozambique, Uganda, Canada and United Arab Emirates (UAE).
- Ally is one man with a very brilliant mind for business. He has gone on to make investments in the oil and gas industry and has become a mogul in that sector.
- His company, Lake Oil Group also manufactures lubes and Ready-Mix Concrete Segment and operates a fleet of more than 400 tankers.
- The transport/haulage arm of the company, Lake Trans, owns and operates close to 500 trucks and serves as a regional contractor for commodities giants like Trafigura and Augusta.
- The company also has a 35 million-liter storage depot at Kigamboni, Dar es Salaam, and another depot in Mbeya, a commercial city in the country’s southwest region.
- Ally’s enterprises have accumulated immense wealth. Indeed, Ally takes home a big chunk of his TSH. 2.3 trillion business earnings – regarded as one of the richest men in Tanzania.
- Ally has built Lake Oil Group into a stunning African success story, but he is quick to attribute his success to his employees. “A company is only as good as its people,” he says.
Ally Edha Awadh is the future!