BP stated that it would pull out of five countries in southern Africa, but would still invest in Egypt and South Africa.

“I would like to stress that BP is and will stay committed to Africa,” said BP Africa’s Chief Executive Sipho Maseko.

He added that his company’s decision came following a strategy review, and it would sell its marketing businesses in Namibia, Malawi, Tanzania, Zambia and Botswana.

“We have significant operations in Egypt, Angola, South Africa and Libya. We will continue to grow and invest in those markets, especially in the value chain infrastructure.”

BP said it informed the governments of the five countries of the exiting plans, but did not assign a specific date.