As the first BEE oil company in South Africa, Afric Oil (Proprietary) Limited (Afric Oil), is an industry success story that has gone from strength to strength over the past decade. The company was conceived in 1994 and the operations commenced effectively in 1995.

The company is the brainchild of Pembani Group (Pty) Limited, previously known as Worldwide African Investment Holdings (Worldwide), a distinguished black owned and managed energy focused investment holding company.

Afric Oil was instrumental in paving way for emerging empowerment companies to enter the once closely protected sector of the economy. The company also played a role in the formulation of the Petroleum and Liquid Fuels Empowerment Charter, aimed at redressing historical, social and economic inequalities of the past by gradually ensuring that historically disadvantaged South Africans own and control a quarter of all facets of the liquid fuel industry.