11 April 2026
Botswana is acquiring a 30% stake in Angola’s $6 billion Lobito Oil Refinery, joining Zambia (26% stake) to boost regional energy security. The 200,000-barrel-per-day refinery, set for 2027 completion, aims to reduce Southern Africa’s reliance on fuel imports and stabilise prices. This collaboration signifies a major shift towards regional integration and intra-African investment.
Key details of the project
- Lobito Refinery Partnership: Angola offers 30% stake to Botswana, while Zambia already holds 26% of the 200,000 bpd refinery.
- Project Goal: The $6 billion-$6.6 billion project aims to make Angola a major regional fuel supplier, reducing dependence on imports.
- Capacity & Location: Located in Lobito, Angola, the facility is designed to process 200,000 barrels of crude oil per day.
- Completion Date: The facility is expected to be operational in 2027.
- Economic Impact: The investment will assist Botswana, which relies entirely on imported fuel, to secure a stable supply and reduce exposure to global price volatility.
- Broadening Cooperation: Beyond oil, Angola and Botswana are exploring joint ventures in other sectors, such as a stake in De Beers, showcasing deeper economic integration.
This move is considered a key step towards improving energy sovereignty and fostering economic development in Southern Africa.
Source: This article has been put together with the help of AI
Video credit: Africa Reloaded via YouTube
Featured image by PrimeVectors
Posted In: BW Government
