Haraka Oil Limited

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Haraka Oil Limited: Im[portation, marketing, selling and distribution of refined petroleum products

Dar es Salaam, TanzaniaDar es Salaam, Tanzania
Year Founded:
2014
Organization type: 
for profit
Project Stage:
Start-Up
Budget: 
$500,000 - $1 million
Project Summary
Elevator Pitch

Concise Summary: Help us pitch this solution! Provide an explanation within 3-4 short sentences.

We sell refined petrol and diesel to our customers in Tanzania. We source the product locally from importing oil marketing companies and due to potential business prospects we are seeing we need to start importing the refined products in bulky and sell to local customers as well as transit customers

WHAT IF - Inspiration: Write one sentence that describes a way that your project dares to ask, "WHAT IF?"

What if the project could generate not less tha 50 employment opportunities to the Tanzania youths currently facing unmployment
About Project

Problem: What problem is this project trying to address?

The project tries to take advantage of the growing Tanzanian economy that is generating a huge demand for the consumption of petroleum products for the transport sector, energy generation, mining, agriculture, and industrial production, etc. This demand creates a huge demand-supply gap that the project sees as a business opportunity. The problem is insufficient working capital in money terms to finance the importation of the material.

Solution: What is the proposed solution? Please be specific!

The solution to the widening gap between the demand and supply of refined petroleum products in the country is for increased and reliable import supplies of the products by current market operators and/or by new entrants into the lucrative market. This also requires a reliable source of financing that will ensure there is enough long term own capital for product procurement from outside the country. The proposed solutions is for the company to invite long term investors to put money into the business so that the company can get enough cash and immediately expand its business activities.
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