Botswana is in talks with Angola to acquire about a 30% stake in that country's $6.6bn Lobito refinery project, currently under construction, as Gaborone seeks to strengthen long-term fuel supply security. 

Minister of Minerals and Energy Bogolo Kenewendo told parliament last week that discussions are ongoing following recent engagements with Angolan officials, Mmegi reported on March 27.

"Last week, we went with President (Duma) Boko to Angola to hold talks with both the Angolan President and the Namibian President, but I did not want to prematurely state this,” she told lawmakers.

“So, we have started talks with Angola to join in building their refinery project... Angola has a petroleum, crude oil refinery, and they have now given us an opportunity to at least take 30% of the refinery."

The Lobito refinery, designed with a capacity of 200,000 barrels per day (bpd) and targeted for completion around 2027, could process roughly 73mn barrels of crude annually at full capacity, positioning it among the largest refineries in sub-Saharan Africa. Zambia already holds 26% in the same project.

Botswana consumes an estimated 25,000–35,000 bpd of refined petroleum products, all of which is imported, primarily via South Africa. If Gaborone secures a 30% stake in the Angolan refinery, its proportional share would equate to around 60,000 bpd of refining capacity, or approximately 21.9mn barrels per year. This would cover Botswana's domestic demand while offering scope for regional trading.

Kenewendo said Botswana is assessing the opportunity as part of a broader strategy to secure a reliable fuel supply, particularly given exposure to external supply disruptions and price volatility.

She added that discussions are focused on understanding the project structure, capital requirements and potential returns, with Botswana's government emphasising the need for long-term supply stability, cost control and participation in the petroleum value chain.

The talks also reflect a wider regional push to strengthen energy security across the Southern African Development Community (SADC). Landlocked countries such as Botswana rely heavily on imported fuel transported over long distances, exposing them to logistics bottlenecks and price volatility.

The Lobito project has faced multiple delays over the past decade. Initially proposed in the 2010s, development stalled due to financing constraints and shifting project structures. Construction gained renewed momentum in the early 2020s under the state oil company Sonangol.

Angola, although one of Africa’s top crude producers with output of around 1.1mn–1.2mnbpd, currently imports about 80% of its refined petroleum products due to limited domestic refining capacity. The Lobito refinery, alongside the 60,000 bpd Cabinda refinery expected to come online in the near term, is intended to reduce this dependence, as is the Namibe project, still in the planning stage, with a targeted capacity of 400,000 bpd.