What Jovena does

Jovena (legal entity JOVENA MADAGASCAR) is a Madagascar-based energy company founded in 1999 and operating as a subsidiary of the diversified AXIAN Group. The company's core activity is petroleum product distribution through a nationwide network of 100+ service stations that covers all regions of Madagascar, including remote and enclaved areas of the Grande Île. Fuel offerings include Super sans plomb 95, gasoil (diesel), pétrole lampant (kerosene), and fuel oil, priced on a pay-as-you-go basis under Madagascar's government-regulated pricing regime. Jovena is also the exclusive distributor of Caltex Chevron Texaco lubricants in Madagascar and sells its own lubricant brand. The 100th station, named Zato at Amborovy Majunga, was inaugurated in February 2021 with specialized high-flow pumps for heavy vehicles and dedicated motorcycle/three-wheeler pumps.

The company operates a hybrid go-to-market: a direct-to-consumer motion through the physical station network serving individual vehicle owners, motorcyclists, and three-wheeler operators, complemented by a sales-led motion for B2B customers. The Energy Plus fleet card system (prepaid and postpaid) and the Energy Pro exclusive system for large fleets use RFID technology for vehicle identification and support remote recharging through the eplus.jovena.mg client portal. Commercial conditions for B2B clients are set by a Credit Committee on a case-by-case basis. More than 80% of stations host convenience boutiques totaling over 5,000m² of retail space, and stations offer vehicle services including washing and maintenance.

Jovena's business model centers on per-unit fuel sales (transaction-fee economics), lubricant distribution (transaction-fee), convenience store operations (transaction-fee), and fleet card subscriptions (recurring). The company is diversified into electricity generation through hydroelectric dams, heavy fuel turbines, and renewable energy projects, positioning itself as a broader energy-sector player. Registered as a Société Anonyme avec Conseil d'Administration under Malagasy law, Jovena holds ISO 9001 certification (version 2008 since January 2010; version 2015 since April 2017) and is incorporated under RC N°1999B00760 with registered capital of MGA 32,866,338,000.

Name

Jovena

Legal name

JOVENA MADAGASCAR

Website

https://jovena.mg

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

251–500 employees

Short description

Jovena operates 100+ fuel stations across Madagascar, distributing petroleum products, Caltex Chevron Texaco lubricants, and Energy Plus RFID fleet card services to individual consumers and enterprise fleet operators. A subsidiary of AXIAN Group, it is expanding into hydroelectric and renewable energy generation.

Ownership category

akta.pro rank

Product category

Fuel Distribution & Energy Services

NAICS

Gasoline Stations with Convenience Stores (45711), Gasoline Stations (4571), Gasoline Stations and Fuel Dealers (457), Fuel Dealers (4572)

SIC

Wholesale-Petroleum Bulk Stations & Terminals (5171), Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172)

akta.pro primary industry

Convenience Retail & Foodservice at Forecourts (C-Store/QSR) (EUALAIAE)

akta.pro secondary industries

Branded Fuels Wholesaling & Jobber Distribution (EUALAIAB), Commercial & Fleet Fueling (Cardlock, On-Site Tanks, Bulk Delivery) (EUALAIAD), Fuel Pricing, Loyalty & Payments Platforms (POS, Mobile Pay, Fleet Cards, Loyalty Programs) (EUALAIAK), Non-Fuel Retail & Ancillary Forecourt Services (Car Wash, Auto Care, ATM/Lottery, Parcel Lockers) (EUALAIAJ), Lubricants, Fluids & Chemical Products Distribution (Oils, Coolants, AdBlue/DEF, Cleaners) (TLAKAOAL)

Keywords

• Fuel distribution
• Petroleum products
• Fleet card services
• Lubricant distribution
• Service station network

Headquarters

HQ city

Antananarivo

HQ country

Madagascar

Offices16 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Fuel Distribution: Distribution of petroleum products including Super sans plomb 95, gasoil, petroleum, and fuel oil through station network. Revenue generated from per-unit fuel sales at pumps.
2. Lubricant Sales: Distribution of Caltex Chevron Texaco lubricants and Jovena's own lubricant brand. Exclusive distributor of Caltex Chevron Texaco oil products in Madagascar.
3. Convenience Store Operations: Operation of boutiques within stations covering over 5,000m2 of retail space. Shops offer food and non-food products as convenience retail.
4. Energy Plus Fleet Cards: Prepaid and postpaid card programs for fleet management. Revenue includes card loading fees and credit-based consumption. Energy Pro system for large fleets.
5. Diverse Energy Services: Expansion into hydroelectric dams, heavy fuel turbines, and renewable energy projects to diversify beyond petroleum distribution.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Jovena distributes petroleum products (Super sans plomb 95, Gas Oil, Pétrole lampant, Fuel oil) and Caltex Chevron Texaco lubricants through a network of 100+ service stations across Madagascar, supplemented by the Energy Plus fleet card system with RFID technology for B2B fleet management. The company also operates station boutiques covering 5,000m2+ of retail space, provides vehicle services (washing, maintenance, tires), and is expanding into electricity generation through hydroelectric dams, heavy fuel turbines, and renewable energy projects.

Product overview

Jovena is a Madagascar-based energy company operating a vertically integrated fuel distribution network with over 100 service stations. The core offering includes petroleum products (Super sans plomb 95, Gas Oil, Pétrole, Fuel oil) and Caltex Chevron Texaco lubricants. The company has diversified into the Energy Plus fleet card system (prepaid, postpaid, and Energy Pro variants) with RFID technology, station boutiques, vehicle services, and electricity generation through hydroelectric and renewable energy projects.

Differentiator

Problem solved

Functional benefit

Brands

• Energy Plus: A proprietary card service for fuel customers providing prepaid and postpaid card options, RFID tag technology, and remote recharging capabilities for fleet management.

Products and services

• Fuel Distribution (Carburants)
• Energy Plus Card System
• Lubricants
• Station Boutiques
• Vehicle Services
• Electricity Generation

Quantifiable outcome

• 100th station opened in February 2021 at Amborovy Majunga
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Caltex Chevron TexacocoreChannel Partner/ Reseller/ DistributorJovena is the exclusive distributor of Caltex Chevron Texaco oil and lubricant products in Madagascar. Jovena also distributes its own brand of lubricants alongside the Caltex Chevron Texaco products.
• Fondation AxiancoreStrategic or Co-development PartnerFondation Axian partnered with Jovena to distribute Corona Boky educational materials and school furniture (16 benches and tables) to EPP Ambohimanambola. The Corona Boky is an illustrated COVID-19 prevention booklet for children developed in partnership with the Pichon family and CowBuArtClub.
• Madagascar HilfeminorStrategic or Co-development PartnerNGO partner in the Corona Boky educational initiative, contributing to COVID-19 awareness and prevention materials for children in Madagascar.
• Association Un Enfant Par La MainminorStrategic or Co-development PartnerNGO partner in the Corona Boky educational initiative for COVID-19 prevention education for children.
• Office Malgache des Hydrocarbures (OMH)coreOthersGovernment regulatory body overseeing hydrocarbon operations in Madagascar. Jovena operates as an authorized fuel distributor under OMH oversight and supplies clients with OMH-licensed infrastructure.

Scale indicators6 records

Recent moves9 records

Expansion highlights6 records

Regional players

• Ola Energy: Ola Energy operates branded service stations across East and Southern Africa with retail fuel, lubricants, and convenience — comparable to Jovena's model, though focused on different African geographies.

Direct peers

• Vivo Energy: Vivo Energy operates Shell-branded service stations across Africa with integrated convenience retail and B2B fleet cards — the closest operational analogue to Jovena's branded forecourt-plus-fleet-card model, though at much larger pan-African scale.
• TotalEnergies Marketing Madagascar: Direct on-the-ground competitor to Jovena in Madagascar, operating Total-branded service stations with fuel retail, lubricants, and convenience offerings in the same market.
• Galana Madagascar (Puma Energy): Galana, operating under Puma Energy's distribution, is a competing Madagascar fuel retailer with branded stations and lubricants — a direct same-market competitor to Jovena's network.

Broad incumbents

• Engen: Engen operates a broad African fuel-retail and lubricants network with forecourt convenience and fleet cards, providing a comparable (though much larger) analogue of Jovena's branded forecourt-plus-fleet model across the continent.
• Galp: Galp operates an integrated downstream business including branded service stations and lubricants in selective African markets, comparable to Jovena's diversified downstream and energy-generation strategy.
• Rubis SCA: Rubis owns African fuel retail and distribution assets (including in Madagascar-adjacent geographies) with branded stations and lubricants, overlapping with Jovena's downstream fuels and lubricants business model.

Others

• Telma Madagascar (AXIAN Group): Fellow AXIAN Group subsidiary operating Madagascar's largest telecom network; relevant as a sibling-portfolio company sharing recruitment, CSR, and strategic coordination with Jovena under the same parent.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/jovenna

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Jovena