South Africa announced plans to expand its strategic oil reserves, marking the first such effort since the apartheid era when the government amassed crude stocks. The move is part of a broader push across the continent to safeguard against supply disruptions and price volatility. Officials say the new reserve will be built in phases, leveraging existing storage infrastructure and tapping regional partnerships to ensure a steady supply chain. The initiative aligns with recent efforts by African nations to diversify energy sources and reduce reliance on external imports, aiming to bolster energy security amid global market uncertainties.

The strategy includes a review of legal frameworks, funding mechanisms, and technical standards to meet international best practices. While details on the exact volume remain confidential, insiders expect the reserve to reach several million barrels within the next five years. South Africa hopes the project will not only protect its economy but also position the country as a regional hub for energy resilience.