Shell Contemplates Exiting South Africa Amid Strained Partnership

Reports suggest that Shell, one of the largest fuel and energy companies in the country, is considering withdrawing from South Africa due to a deteriorating relationship with its BEE partner. Shell, which has been operational in South Africa for 122 years, has partnered with Thebe Investment Corporation for the past 22 years. However, tensions arose when Thebe decided to exercise its option to sell its 28% stake in Shell Downstream South Africa in 2022. City Press reported that this move has led to a dispute, with Shell being accused of undervaluing Thebe’s stake.