Established in 1999, Calulo Investments started as a fuel wholesaler, buying fuel from the majors and then selling it on to industry and farmers. Calulo Investments subsequently went into a joint venture with Total SA in 2000, called Total Renaissance. From this, Calulo were inspired to progress from being a petroleum wholesaler, to leading a Broad-Based Black Economic Empowerment consortium, TOSACO, through the acquisition of a 25% stake in Total in 2003. The acquisition, which was structured in terms of the Liquid Fuels Charter (LFC), saw TOSACO’s acquisition debt being fully expunged in 2011, resulting in Total SA being the first South African oil major to comply with the LFC’s unencumbered ownership target of 25%, ahead of the 10-year LFC deadline. Calulo’s stake in Total South Africa through TOSACO and its leadership within the consortium is an excellent example of the strides being made in ownership transformation in the local petroleum industry.
Calulo Investments furthermore contributed to its position as a leading BBBEE partner in the Oil and Gas Industry through active involvement and investment in the operational aspects within the sector. The group aims to create a symbiotic relationship between operations and investees by contributing tangible experience and expertise in chosen facets within the oil sector, from logistics through to technologies.
Today, Calulo Investments has significant holdings in companies throughout the value chain and controlling interests in companies which focus on providing comprehensive logistics solutions to the oil, gas and chemical sectors.