Rwanda to become Africa’s latest oil-producing nation

Rwanda has announced its first oil discovery, confirming 13 reservoirs in Lake Kivu, which borders the Democratic Republic of Congo (DRC).

“We have oil,” said Francis Kamanzi, CEO of the Rwanda Mines, Petroleum and Gas Board, during a parliamentary hearing, as reported by local media group Igihe. The breakthrough comes after over a decade of exploration in the lake.

Kamanzi expressed optimism about finding more oil, pointing to significant reserves identified in neighboring Uganda and the DRC within the Great Lakes region.

Despite tensions in eastern DRC, where Rwanda-backed M23 rebels have seized parts of the region, Rwanda and the DRC have continued discussions on Lake Kivu’s exploration.

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