Angola Proposes 30% Stake to Botswana in a Refinery Project

Following President Duma Boko’s visit to Angola last week, the Minister of Mines and Energy, Bogolo Kenewendo, revealed that Botswana has been offered a 30% stake in the Angolan petroleum refinery project.

As tensions continue to escalate in the Middle East, with the Strait of Hormuz restricted, affecting fuel supply, Kenewendo informed Parliament today of the state of fuel supply security.

In her statement, Kenewendo revealed that local fuel supply security remains stable despite the surge in international fuel prices.

While the government is looking for long-term strategies to stem such situations, the minister informed the National Assembly of the developments from Boko’s trip to Angola last week.

“Last week, we went to Angola with President Boko to meet with the Angolan and Namibian presidents, but I did not want to announce it prematurely. So we started discussions with Angola to participate in the construction of their refinery,” said Kenewendo.

Kenewendo said Angola could be a key strategic partner in addressing fuel supply security challenges. She revealed that Botswana had been offered a stake in the refinery project.

“Angola has oil, crude oil, a refinery, and they have now given us the opportunity to take at least 30% of the refinery,” she told Parliament.

Although the offer is lucrative and could be an excellent deal for the country, the minister warned that discussions are still in their early stages.

“Discussions are ongoing to determine whether we fully understand the nature of the project and its needs. These discussions are continuing because we want to secure Botswana’s future in the petroleum sector,” said Kenewendo.

Beyond the refinery project, Kenewendo said Boko had also asked the Sociedade Nacional de Combustíveis de Angola (SONANGOL), a public enterprise, to make fuel purchases on behalf of Botswana.

“When we were in Angola, President Boko discussed with the Angolan president the fact that when SONANGOL buys fuel for Angola, it also includes Botswana,” said Kenewendo.

She stressed that discussions are already underway and the public should stay tuned for future developments on this issue.

By the Editorial Team