Botswana is exploring deeper regional energy cooperation after receiving an offer to acquire a 30 percent stake in a planned oil refinery project in Angola, as Southern African countries seek long-term solutions to fuel supply vulnerabilities.
The proposal emerged following a state visit to Angola by President Duma Boko, where energy security formed a central pillar of bilateral discussions.
Briefing Parliament, Minerals and Energy Minister Bogolo Kenewendo confirmed that Botswana has initiated negotiations with Angola and Namibia aimed at building sustainable fuel supply partnerships. She stressed, however, that engagements remain preliminary and no binding agreement has yet been reached.
The discussions come at a time when global fuel markets are experiencing renewed volatility driven by geopolitical tensions, particularly disruptions affecting key maritime trade routes such as the Strait of Hormuz.
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Rising international oil prices have intensified pressure on import-dependent economies, prompting Botswana to accelerate diversification of its energy strategy.
Kenewendo told lawmakers that while global developments continue to influence fuel costs, Botswana’s domestic fuel supply remains stable. Government attention, she said, is now shifting toward long-term measures designed to reduce exposure to external market shocks.
Angola has emerged as a preferred partner due to its established petroleum sector and expanding refining capacity. Under the proposed arrangement, Botswana would participate directly in the refinery project, potentially strengthening its position within the regional fuel value chain while improving supply security.
Alongside the refinery discussions, President Boko held meetings with executives from Sociedade Nacional de Combustíveis de Angola (Sonangol), Angola’s state-owned oil company. Botswana has proposed accessing fuel through Sonangol’s bulk procurement system, a move expected to enhance purchasing efficiency and stabilise pricing over time.
Government officials said negotiations are ongoing as technical teams evaluate the project’s financial structure, operational framework and long-term economic benefits.
Authorities have urged patience as consultations continue, noting that the broader objective is to establish durable partnerships capable of insulating Botswana’s economy from fluctuations in global fuel markets while ensuring reliable energy supply for future growth.
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