For decades, energy was the one bill Africa couldn’t bring home. ⠀ Afreximbank just put $3 billion behind a Dangote fuel hub at Walvis Bay. Refined fuel out of Dangote’s Lagos refinery, into Namibia, then on to Zambia, Zimbabwe and Botswana in about 5 days, instead of the 2 to 3 weeks the Gulf route takes. ⠀ Those three import roughly $4 billion of fuel a year, all paid in dollars. Layer on Afreximbank’s PAPSS and that trade can settle in African currencies. ⠀ The catch: a $3 billion facility on Namibian soil only matters to Namibia if Namibian firms capture part of the value. Weak local content policy, and Walvis Bay is just a pass-through collecting port fees. ⠀ The Hormuz scare didn’t start this shift. It stopped Africa from delaying it. ⠀ #Dangote #Namibia #Africa #Afreximbank #GlobalArbitrage