Botswana's Boko eyes Namibian oil, port deals
Botswana President Duma Boko has expressed his government’s willingness to invest in Namibia’s port infrastructure or acquire a stake in oil blocks, as exploration activity intensifies in the Orange Basin.
The announcement comes amid growing revenue pressures in the diamond-rich nation.
Speaking to Bloomberg following the United Nations General Assembly, Boko stressed the importance of diversifying Botswana’s revenue streams in light of declining diamond prices, which have long underpinned the country’s economy.
To support this strategy, Botswana will rely on its recently established Sovereign Wealth Fund (SWF), Boko explained. “The SWF will drive investment in the domestic economy, and we will also explore enterprises abroad in which Botswana can take a stake. For instance, we are considering a 30% stake in the Lobito Oil Refinery in Angola.”
Launched in 2025, the Botswana Sovereign Wealth Fund is designed to channel surplus mineral revenues into investments that strengthen long-term economic resilience. It is also expected to support regional projects enhancing infrastructure, energy security, and industrial capacity.
Namibia in focus
Turning to Namibia, where he is expected ahead of the Plenary Session of the Second Bi-National Commission between the two countries, Boko outlined his intention to participate in Namibia’s growing oil and gas sector. “In Namibia, we are looking at an oil block and potential investment in a port. These are among the sectors we are exploring.”
While he did not specify which port, opportunities are likely linked to Walvis Bay, a strategic logistics hub providing Botswana and other landlocked countries access to international markets.
Following a working visit to Botswana in May, President Netumbo Nandi-Ndaitwah and Boko agreed to assess the feasibility of jointly constructing a refinery to serve both countries and the wider region. Nandi-Ndaitwah first proposed the idea at the Namibia International Energy Conference in April 2025, emphasising that local content should include value addition through downstream capacity and infrastructure development.
Namibia has emerged as one of Africa’s most closely watched new oil frontiers following major offshore discoveries in the Orange Basin by Shell, TotalEnergies, and Galp Energia. Analysts estimate the basin could contain billions of barrels of recoverable oil, potentially transforming the regional economy.
Bi-national commission
The Second Session of the Bi-National Commission (BNC) will review cooperation across diplomatic, legal, economic, social and defence sectors, and provide a platform to explore new collaborative opportunities. Several bilateral agreements and Memoranda of Understanding (MoUs) are expected to be considered and signed.
Both countries continue to strengthen cooperation along the Walvis Bay–Kazungula transport corridor, enhancing trade links between Namibia, Botswana, Zambia and the Democratic Republic of Congo.
The announcement comes amid growing revenue pressures in the diamond-rich nation.
Speaking to Bloomberg following the United Nations General Assembly, Boko stressed the importance of diversifying Botswana’s revenue streams in light of declining diamond prices, which have long underpinned the country’s economy.
To support this strategy, Botswana will rely on its recently established Sovereign Wealth Fund (SWF), Boko explained. “The SWF will drive investment in the domestic economy, and we will also explore enterprises abroad in which Botswana can take a stake. For instance, we are considering a 30% stake in the Lobito Oil Refinery in Angola.”
Launched in 2025, the Botswana Sovereign Wealth Fund is designed to channel surplus mineral revenues into investments that strengthen long-term economic resilience. It is also expected to support regional projects enhancing infrastructure, energy security, and industrial capacity.
Namibia in focus
Turning to Namibia, where he is expected ahead of the Plenary Session of the Second Bi-National Commission between the two countries, Boko outlined his intention to participate in Namibia’s growing oil and gas sector. “In Namibia, we are looking at an oil block and potential investment in a port. These are among the sectors we are exploring.”
While he did not specify which port, opportunities are likely linked to Walvis Bay, a strategic logistics hub providing Botswana and other landlocked countries access to international markets.
Following a working visit to Botswana in May, President Netumbo Nandi-Ndaitwah and Boko agreed to assess the feasibility of jointly constructing a refinery to serve both countries and the wider region. Nandi-Ndaitwah first proposed the idea at the Namibia International Energy Conference in April 2025, emphasising that local content should include value addition through downstream capacity and infrastructure development.
Namibia has emerged as one of Africa’s most closely watched new oil frontiers following major offshore discoveries in the Orange Basin by Shell, TotalEnergies, and Galp Energia. Analysts estimate the basin could contain billions of barrels of recoverable oil, potentially transforming the regional economy.
Bi-national commission
The Second Session of the Bi-National Commission (BNC) will review cooperation across diplomatic, legal, economic, social and defence sectors, and provide a platform to explore new collaborative opportunities. Several bilateral agreements and Memoranda of Understanding (MoUs) are expected to be considered and signed.
Both countries continue to strengthen cooperation along the Walvis Bay–Kazungula transport corridor, enhancing trade links between Namibia, Botswana, Zambia and the Democratic Republic of Congo.
