Glencore to buy Caltex after Chinese deal fails

Tuesday, October 10, 2017

The Caltex business will now be bought by the Swiss-based Gaborone

Mining and commodity trading giant, Glencore has leaped in to replace Chinese oil company, Sinopec as the buyer of Chevron’s assets in Botswana and South Africa.

Chevron operates in Botswana using the Caltex brand name in the retail market operated by a company called Fuel in Motion while its commercial business is run through Kwa Nokeng Oil.

In its statement on Friday, Glencore said it had agreed to buy Chevron’s 75% stake in its South African subsidiary and its Botswana interests for a combined $973 million. The remaining 25% stake will stay with a consortium of Black Economic Empowerment shareholders and an employee trust.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

State wants protection for magistrate’s victims

Larona Makhaiza | 9 h ago

Quali-Med Laboratories unveils new dawn in healthcare

Kabelo Boranabi | 11 h ago

Hosanna show showcases gospel potential

Tsaone Basimanebotlhe | 11 h ago

Shaba Stele in near-quit breakthrough

Johannes Kambai | 11 h ago

New season catches hat-trick fever

Kabelo Boranabi | 12 h ago

GU chase first three-peat in seven years

Kabelo Boranabi | 12 h ago

BAUSA mobilises diaspora for development

Tsaone Basimanebotlhe | 1d ago

BERA warns on electricity licensing

staff writer | 1d ago

Gov't must guard against cadre deployment

As the Botswana National Front (BNF) discusses a policy to place suitably qualified members in strategic positions, the guiding consideration should remain whether an individual is the best person to serve the country. There is nothing wrong with qualified party members applying for public positions. Political affiliation should neither disqualify a capable candidate nor give them an advantage over others. Every Motswana deserves a fair...

The Monitor Editor | 27 October 2026

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.