11 Nov 2026

Kwa Nokeng Oil Holdings Limited has officially listed on the Botswana Stock Exchange (BSE), raising over P1 billion in its initial public offering (IPO) and oversubscribing by 21 per cent.

Speaking at the opening bell ceremony in Gaborone November 12, the company’s executive director and founder, Mr Clinton Van Vuuren, shared how a family-led operation, which began with one depot, scaled into a national energy powerhouse, driving citizen empowerment by supporting local transport, mining and supply firms and channeling over millions to fuel suppliers annually.

“Our story dates back decades, launched from a humble, single trading operation on Machaneng, which evolved into Botswana’s biggest citizen-controlled petroleum and lubricant distributor, supplying roughly 25-30 per cent of the nation’s diesel,” Mr Van Vuuren said. 

He further highlighted the firm’s deep-rooted local integration, noting that it had created over 400 direct employment opportunities.

“Out of 81 contracted fuel tankers, 56 (69 per cent) are fully owned by Batswana entrepreneurs, underscoring an intentional corporate culture of staff and local enterprise empowerment rather than pure extraction,” he said.

On one hand, South African-based private equity firm, Chroma Capital non-executive director, Mr Roshen Gala, noted that the listing was significantly driven by cross-border capital, reflecting a deep-rooted trust in Botswana’s macro-economic foundations.

“Investors recognise that the country is anchored by strong, predictable institutions, regulatory clarity and enduring political stability.

In such an unpredictable commodity landscape, Botswana stands out as safe, transparent and an ideal place to deploy log-term capital,” he said.

BSE chief executive officer, Mr Aupa Monyatsi hailed the listing as a key milestone that proved a strong and domestic appetite for local markets.

“This listing is testament to our core mandate of connecting ambition with opportunity through the provision of transparent, accessible and sustainable platforms for capital-raising.

 Kwa Nokeng’s listing confirms that our market can support substantial high-impact offerings and draw participation on a broad base,” he said.

Kwa Nokeng Oil CEO, Mr Mahube Mpugwa, acknowledged that the public listing brought heightened governance scrutiny while showcasing the firm’s operational rigor.

“Transitioning to a publicly listed company brings with it a huge responsibility of financial prudence and heightened regulatory scrutiny and opening up the shareholder base demands rigorous transparency. We are ready for it,” Mr Mpugwa said.

He emphasised that with operations stretching into neighbouring markets such as Namibia, South Africa, Zambia and Zimbabwe, the company aimed, going forward, to use the listed public profile and governance standards to expand its regional footprint and deliver steady value to its shareholder base. ENDS