Afreximbank and Dangote Group to establish fuel hub in Walvis Bay for Southern Africa
via NewsDay Zimbabwe5 min read
The African Export-Import Bank Afreximbank is collaborating with the Dangote Group to create a fuel tank farm in Walvis Bay, Namibia. This initiative aims to supply refined petroleum products to Zimbabwe, Botswana, and Zambia, strengthening intra-African trade and reducing fuel costs across Southern Africa. The project is part of a US$3 billion financing facility. Refined fuel from the Dangote Refinery in Lagos will be shipped to Walvis Bay, a journey expected to take less than five days. Afreximbank plans to acquire an initial fleet of approximately 550 fuel tankers for inland transport while a pipeline connecting to Zimbabwe and Zambia is developed. Afreximbank is also in discussions with the Mutapa Investment Fund and Zimbabwean private sector players to expand the Beira鈥揗sasa pipeline and extend it into Zambia. These efforts are intended to ensure fuel supply, reduce costs for land-linked economies, and lessen reliance on extra-continental fuel imports, especially as global oil prices have recently increased due to international conflicts.
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This summary was AI-generated from a story originally published by NewsDay Zimbabwe.
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