Dangote's $3B Bet on Walvis Bay

Añadido: 2026-05-16

[00:00:00]If you live in Zambia, Zimbabwe, or Botswana, the diesel in your tank traveled 3 weeks across the ocean and got paid for in US dollar. That's about to change. And the timing couldn't be any better with the war in Iran and the closure of the Strait of Hormuz going back and forth every now and then where 20% of world oil supply is disrupted. Diesel price keep going through the roof and South Africa also recently just raised the pump price again. Importing fuel from the Middle East has never been dangerous and expensive. Afreximbank, the Africa Export and Import Bank has now just partnered up with Dangote Group and they are working on the 3 billion hub at Walvis Bay where the refined is still going to come from Nigeria and then it comes to Walvis Bay and from there within 3-4 days you have it in Zimbabwe, Zambia, or Botswana instead of the usual now 3-4 5 weeks from the Middle East.

[00:00:47]Those three countries alone, they import around 4 billion worth of fuel a year paid in US dollar. That 4 billion was leaving the continent on a annual basis just to keep the trucks running. Now, on top of that, if you add the other layer of Afreximbank, the PAPSS project that they are busy with, Pan African Payment and Settlement System, African countries really stand a shot at transacting fuel using African currency. With a 3 billion project in Namibia, the Walvis Bay, this is where the Namibian government really comes in now with local content policies because without strong local content policy, Walvis Bay really just becomes a pass-through and Namibian companies they don't really get to capture some of the value through a magnificent project like that. For decades, energy was the land African countries could not bring home.

[00:01:37]African oil refined in Lagos shipped to Namibian port and then paid for with African currency, the whole loop now sits inside the continent.