AGP Executive Report

Botswana–Zimbabwe Economic Push: Botswana’s VP Ndaba Gaolathe met Zimbabwe’s VP Constantino Chiwenga in Harare to push execution-led diversification and joint investments, with solar and technology flagged as priority areas. Cross-Border Connectivity: Powertel Communications and Paratus Zimbabwe say the first phase of a fibre corridor linking Zimbabwe with Botswana (via Plumtree–Bulawayo) is now live under a PPP, aiming to deepen regional digital integration. Energy Supply Watch: South Africa’s Stats SA reports electricity generation down 9% year-on-year in May, with distribution also weaker in several provinces—an important regional signal for power-reliant business. Copyright vs AI in Botswana: A new debate is emerging after reports of millions of songs, including Botswana works, appearing in AI training datasets; officials say Botswana’s copyright law protects creators but doesn’t explicitly cover machine learning and data scraping. Corporate/Jobs Update (Namibia): Cheetah Cement in Namibia halted planned retrenchments after a minister reversed a merger block, clearing the way for its takeover of Ohorongo Cement. Digital Creativity Funding: Google Play launched an equity-free Indie Games Fund for Africa, committing $1m to studios across 32 countries. Legal/Boardroom Tension (Botswana): Botswana Tourism Organisation board secretary Kgotso Mile Ollyn’s suspension dispute escalated into court, with arguments over unlawful suspension and calls for an independent board.

Botswana–Zimbabwe Economic Push: Botswana’s Vice President Ndaba Gaolathe met Zimbabwe’s VP Constantino Chiwenga in Harare, pitching enhanced economic partnership, cross-border business links and joint investments as Botswana accelerates diversification beyond diamonds into areas like solar and technology. Regional Digital Connectivity: Powertel Communications and Paratus Zimbabwe say the first phase of a cross-border fibre corridor is now live, linking Zimbabwe with Botswana and wider Paratus networks to boost Southern Africa’s connectivity. Public Finance & Climate: The Green Climate Fund agreed to loosen reserve rules, freeing nearly $6bn more for emissions cuts and adaptation in developing countries. Business & Banking Recognition: Stanbic Bank Botswana Limited was named Banking Brand of the Year Botswana 2026 at the Global Banking & Finance Review Awards. Tax Capacity Building: OECD and UNDP highlighted progress from Tax Inspectors Without Borders, citing billions in additional tax revenues and assessments supported across developing states. Labour & Public Service Tensions: BOFEPUSU warned it will resist a proposed DPSM public service restructuring/voluntary early retirement plan, calling it unlawful without proper consultation. Education & Youth Safety: Botswana Insurance Company donated school support items as authorities say evidence now points to boys behind ongoing mattress damage in schools. SACU Reform Agenda: SACU leaders, including President Ramaphosa, urged accelerated reforms and export strategies to strengthen regional cooperation and intra-African trade.

Regional Connectivity & Telecom: Powertel Communications has partnered with Paratus Zimbabwe to launch the first phase of a high-capacity fibre optic corridor linking Zimbabwe with Botswana, with the Plumtree–Bulawayo section already live under a PPP. Energy Costs & Supply: Stats SA says electricity generation fell 9% year-on-year in May, while distribution also dropped in several provinces—raising pressure as tariffs continue climbing. Fuel Disruption: Livingstone, Zambia, is hit by fuel shortages, with queues stretching for hours and tourism and transport operations affected. Anti-Corruption & Accountability: Botswana’s DCEC has been granted permission to prosecute Bakang Seretse and others over alleged criminal negligence tied to Botswana Petroleum Fund money. Public Service Restructuring: BOFEPUSU warns it will fight a proposed DPSM voluntary early package plan, calling it unlawful and a threat to livelihoods. Trade & Industry (SACU): President Ramaphosa urged accelerated SACU reforms at the 9th summit, pushing regional value chains and an export strategy to boost intra-Africa trade. Mining & Exploration: One Bullion started a high-resolution airborne geophysical survey over its Vumba Project in Botswana, aiming to refine drill targets ahead of a maiden campaign. Sports as Business: Botswana’s inaugural Business of Sport Summit reframed sport as an economic engine, focusing on sponsorship, commercialisation and jobs. Tech & Creative Economy: Google Play launched a Sh129m Indie Games Fund for Africa to back independent studios with equity-free capital and mentorship.

Road & Trade Links: Zimbabwe’s Bulawayo–Victoria Falls Road upgrade is nearing completion, with only two detours left on the first 100km after Government opened another 9.2km rehabilitated stretch, easing travel for motorists on a key tourism and trade corridor. Electricity & Costs: South Africa’s power generation fell 9% year-on-year in May, while distribution also dipped, a reminder of how energy reliability and tariffs can quickly feed into business costs across the region. Botswana Business & Finance: Botswana’s DCEC gets court permission to prosecute Bakang Seretse and others over alleged P15.6m Botswana Petroleum Fund-related offences, including stealing and forgery. Mining & Exploration: One Bullion started a high-resolution airborne geophysical survey over its Vumba Project in Botswana, with results aimed at refining drill targets ahead of a maiden campaign. Regional Industry & Policy: At the SACU summit, President Ramaphosa urged accelerated reforms and highlighted work on regional value chains (fertilisers, agrochemicals, seed) plus plans for an investment roundtable. Sports Economy: Botswana’s inaugural Business of Sport Summit pushed sport as a monetisable sector for jobs, investment and GDP growth. Governance & Labour: BOFEPUSU warned it will fight a proposed DPSM public service exit plan, calling it unlawful and a threat to livelihoods. Clean Energy Accountability: Experts in Gaborone warned Africa’s clean energy transition could repeat extractive patterns unless accountability and community protections are built into policy and investment deals.

Diamond & Luxury Trade: Botswana’s government-backed “Okavango Blue” diamond is set to headline a Messika high-jewellery piece in Paris—an oval 20.46-carat Fancy Deep Blue set in a rivière necklace with 500 white diamonds, mined at Orapa and now showcased as a global brand moment for Botswana’s diamond value chain. Sports & Jobs: Botswana’s inaugural Business of Sport Summit in Tlokweng pushed sport as an economic engine, focusing on sponsorship, commercialisation, investment, media and sports tourism to help create jobs and growth. Tax Capacity Building: OECD and UNDP’s Tax Inspectors Without Borders report says the programme has expanded cooperation with developing countries, boosting domestic revenue and strengthening audit and investigation capacity. Regional Trade & Industry: At the SACU summit, President Cyril Ramaphosa urged accelerated reforms and highlighted work on regional value chains (fertilisers, agrochemicals, seed) plus plans to mobilise funding for automotive and battery manufacturing. Exploration & Mining Tech: One Bullion started a high-resolution airborne geophysical survey over its Vumba Project, appointing Joe Van Wyk as Vice President, Exploration, as it moves toward a maiden drill campaign. Conservation: West African leopards in Benin’s Pendjari National Park show recovery signals, with density rising from 2017 to 2023 despite ongoing security threats. CUCSA Games: Gaborone hosted the 22nd CUCSA Games, running to 5 July, spotlighting university sport as a regional talent and tourism draw.

Botswana Politics & Governance: The Botswana Democratic Party has apologised for the P100 billion saga, saying the controversy misled the public and caused reputational damage, after prosecutors discontinued matters linked to the claims. Mining & Exploration: Aterian and Lithosquare have started joint exploration programmes in Morocco and Botswana, using AI-led targeting plus hyperspectral imagery, geophysics and drilling to speed up discoveries. Energy Transition Accountability: Experts meeting in Gaborone warned Africa’s clean-energy push could repeat extractive patterns unless investment treaties and energy-transition deals include clear accountability and stronger community protections. Regional Trade & Competitiveness: Nigeria topped the IMD 2026 economic performance pillar, while Botswana ranked lowest among the six African countries assessed on that pillar—highlighting the competitiveness gap Botswana faces. Conservation & Tourism: CAF opened bidding for AFCON 2028 with a Botswana-South Africa joint bid among early contenders, while Mashatu’s peak dry-season viewing in Tuli is drawing winter safari interest. Business & Finance: FMB Capital Holdings plans a new bank in Mauritius via a 50-50 joint venture, aiming to tap regional trade and financial flows.

Conservation Capacity Boost: SADC, with German funding via the TFCA Financing Facility (implemented by KfW and IUCN), is rolling out a leadership and technical training programme for wildlife rangers and managers across Banhine, Limpopo and Zinave (Mozambique), Maputo National Park (Lubombo), and connected parks in South Africa and Zimbabwe—aimed at stronger biodiversity protection, better responses to human-wildlife conflict, and more sustainable livelihoods. Critical Minerals Exploration: Aterian says it has started field operations under its joint venture with Lithosquare, using AI-led target generation plus hyperspectral satellite imagery, geophysics, geochemistry and drilling to accelerate discovery across priority projects in Morocco and Botswana. Shell Exit Watch: Reports say Shell South Africa’s fuel retail business is in the final stages of sale to Abu Dhabi’s ADNO C, a move that would deepen Shell’s Africa pullback after earlier refinery and asset divestments. Botswana Economy in Focus: In the IMD World Competitiveness Ranking 2026, Nigeria leads Africa on economic performance, while Botswana is placed at the bottom among the assessed African countries—highlighting a gap driven by domestic economic outcomes, trade and investment, employment and price dynamics. Banking Deal Update: Letshego’s shareholders have approved the sale of several non-core operations, with the group exiting most East and West Africa and narrowing focus to Botswana, Namibia, Eswatini, Kenya, Lesotho and Mozambique. Legal Matter: In a Botswana Housing Corporation-related case, an affidavit filed in court says Ramogapi lacked authority to engage private lawyers for a government matter, with the court record also questioning the legality of a power of attorney granted to a law firm.

Botswana Mining & AI: Botswana Minerals says an AI review of more than a gigabyte of 50-year-old drill records has identified primary copper sulphide and altered copper minerals (including malachite and chrysocolla), pointing to concealed copper corridors under Kalahari cover—turning legacy data into a focused field programme. Tourism Regulation: Government is moving to overhaul the Tourism Act, aiming for a modern, more investment-friendly legal framework that supports destination marketing, infrastructure and private-sector participation. Agriculture Finance: Stakeholders met to refine Botswana’s Agriculture Financing Strategy, with the goal of building a financing ecosystem that unlocks private capital, reduces risk and strengthens value chains. SACU Regional Funding: SACU leaders agreed to set up a regional innovative funding mechanism with an initial N$5 billion capital, to back development projects across member states. MTN Leadership (Regional): MTN appointed Jerry Soko as CEO of MTN Eswatini effective 1 July 2026, citing improved performance and operational discipline. Business & Sports: Botswana’s sport sector is being pushed as an economic driver, while Botswana Volleyball Federation reports early recovery after the league resumed, helping teams prepare for regional competition.

Mining & AI: Botswana Minerals says an AI review of 50-year-old drill records has uncovered primary copper sulphide and altered copper minerals (including malachite and chrysocolla), pointing to concealed copper corridors under shallow Kalahari cover. Tourism Policy: Government is moving to overhaul the Tourism Act, aiming for a modern, investment-friendly legal framework that boosts private-sector participation and destination marketing. Agriculture Finance: Stakeholders met to refine an Agriculture Financing Strategy with the goal of unlocking scaled private capital, reducing risk, and strengthening value chains for food security and diversification. Energy & Power: Shumba Energy has started construction on the 100MW Tati Solar project near Francistown, targeting commercial operations in 2027 and power sales into the Southern African Power Pool. Regional Trade & Industry: SACU leaders agreed to set up a regional innovative funding mechanism with an initial N$5bn capital to support development projects across member states. Business Climate: Botswana slipped seven spots in the IMD World Competitiveness ranking, now 66th out of 70, with concerns over fiscal stability, infrastructure readiness, and reliance on diamonds. Corporate Governance: One Bullion announced a board transition following the resignation of director Sheldon Inwentash after its late-2025 listing.

Critical Minerals & Value Addition: Botswana says it’s well-positioned to supply critical minerals for the clean-energy shift and to move up global value chains, with government pushing beneficiation and stronger local content. SACU Regional Push: SACU leaders approved a R5bn regional development fund to back cross-border industrial and infrastructure projects, alongside calls for a 15-year AGOA extension. Energy & Power Projects: Shumba Energy has started construction on the 100MW Tati Solar project near Francistown, targeting commercial operations by 2027 and export sales into the Southern African Power Pool. Banking & Finance Watch: Bank of Botswana paid P7.3bn in dividends to government for FY2025, while Botswana’s competitiveness slipped in the latest IMD ranking. Tax & Digital Services: Botswana introduced VAT on remotely supplied electronic and professional services, with reverse-charge obligations for local recipients. Public Sector Talks: Public service salary negotiations for 2026/27 are set for July after a framework agreement with unions. Business Environment: A new focus on “regulatory whiplash” highlights how sudden policy shifts can hurt long-term planning more than headline tax rates. Sports as an Economy: Botswana’s sport leaders are framing sport as a business sector for jobs and investment, while volleyball and football developments signal a push to rebuild performance. Governance & Compliance: FIA says it received 850 suspicious transaction reports and shared 102 financial intelligence reports for action.

SACU Regional Push: SACU leaders meeting in Cape Town approved a R5bn regional development fund to back cross-border industrial and infrastructure projects, with Namibia, Botswana, Eswatini, Lesotho and South Africa set to benefit, alongside calls for a 15-year AGOA extension. Botswana Telecoms: Botswana Telecommunications Corporation (BTC) reported revenue down 1.6% to BWP 1.47bn and net profit falling to BWP 113.34m as it prioritised network, spectrum and digital services investment. Electricity Demand Signals: Electricity sales in Namibia rose 2.8% in Q1 2026, while imports jumped 32.9%, underscoring regional power reliance and shifting generation patterns. Banking & Reserves: Bank of Botswana withdrawals from the Pula Fund to replenish liquidity for imports were highlighted in its 2025 annual report, keeping pressure on reserves management. Anti-Financial Crime: Botswana’s Financial Intelligence Agency flagged 850 suspicious transaction reports and shared 102 financial intelligence reports with authorities including BURS and the DCEC. Football Finance Stress: Township Rollers face a fragile financial position after losing sponsor Sunbet Botswana, with debts tied to players, coaches and service providers prompting a spending rethink. Energy Project Watch: Botala Energy says a key Serowe coal seam gas production well is ready for stimulation testing, a step toward potential commercial gas output.

SACU Leadership & Regional Trade: Botswana President Duma Boko says the country’s SACU chair from 15 July will push stronger integration, including customs simplification and faster movement of goods, with a focus on projects like the Trans-Kalahari Railway linking coalfields to Walvis Bay. SACU Funding Push: SACU leaders agreed on a new R5bn regional development fund to back bloc projects, while also urging a 15-year AGOA extension to protect export jobs and market access. Diamond Economy Watch: Botswana’s diamond slowdown is hitting consumer-facing business too—Famous Brands flags weaker performance in Botswana as reduced spending bites, given the sector’s heavy role in GDP and exports. De Beers Ownership Signals: De Beers CEO Al Cook says the sale process is nearing completion and hints ownership could evolve into a partnership model involving producing governments—raising hopes for Botswana to increase its stake beyond 15%. Banking & Africa Growth: Moody’s calls Absa’s planned R4bn Kenya stake increase credit positive, citing earnings upside but noting higher East Africa risks. Mining Exploration in Botswana: Verity Resources starts first-pass soil sampling and mapping in a newly granted Botswana tenement targeting copper, silver, gold and nickel. Transport Policy Tension: Botswana taxi operators warn they may surrender permits and move to e-hailing if new rules are seen as favouring digital platforms. Agriculture Resilience: Botswana launches a National Fodder Production Strategy aiming to add 1m tonnes of fodder annually by 2030 to cut feed deficits and strengthen livestock competitiveness.

SACU Integration Push: Botswana says it’s ready to turn its 2026/27 SACU chair into tangible results, backing trade and customs simplification to boost industrialisation across the bloc. SACU Funding Plan: Leaders also agreed to set up a R5bn regional development fund to support projects, alongside calls for a 15-year AGOA extension to protect jobs and market access. Diamond Pressure on Business: Famous Brands flags Botswana’s diamond slowdown as a drag on consumer spending, warning the economy’s heavy reliance on diamonds leaves it exposed to global demand swings. De Beers Ownership Watch: De Beers CEO Al Cook hints the sale process is nearing completion and signals future ownership could involve partnerships with diamond-producing governments—raising hopes for Botswana to deepen its stake. Taxi vs E-Hailing: Botswana Taxi Association threatens to surrender permits if new rules are seen as favouring e-hailing platforms over the regulated taxi industry. Agriculture Resilience: Botswana launches a National Fodder Production Strategy aiming to add one million tonnes of fodder annually by 2030 to narrow the feed gap and strengthen the livestock economy. Regional Governance: Freedom House rates Botswana strong on elections but warns of ongoing weaknesses in media freedom, transparency and minority rights. Energy Cost Reality (Region): Zimbabwe’s fuel pricing remains high despite falling global oil benchmarks, keeping pressure on households and businesses.

SACU Leadership & Integration: Botswana President Duma Boko used the 9th SACU summit in Cape Town to push renewed purpose, stronger partnerships and simpler customs to boost trade and industrialisation, as Botswana prepares to chair SACU from 15 July and backs the Trans-Kalahari Railway linking coalfields to Walvis Bay. Regional Funding: SACU leaders agreed to set up a R5bn regional development fund and backed a 15-year AGOA extension, while also mandating reforms under incoming Executive Secretary Dumsani Masilela. Diamond Business Pressure: Famous Brands flagged Botswana’s diamond slowdown as a key drag on revenue, warning that heavy dependence on diamonds (about a quarter of GDP and 80% of exports) keeps consumer spending vulnerable. De Beers Ownership Watch: De Beers CEO Al Cook said the sale process is nearing completion and hinted ownership could evolve into a partnership model involving diamond-producing governments—raising hopes for Botswana’s stake beyond 15%. Transport Policy Tension: Botswana taxi operators threatened to surrender permits and move to e-hailing if regulations favour digital platforms, arguing they’re being sidelined. Afreximbank Appointment: Afreximbank named Peter Adeshola Olowononi as Southern Africa regional operations chief, effective May 1, overseeing financing across 13 countries including Botswana.

SACU Chair Transition: Botswana has reaffirmed its push for regional integration and trade facilitation as it takes over the Southern African Customs Union chairmanship from 15 July, aiming to boost industrialisation and economic transformation across the bloc. Regional Funding: SACU leaders also agreed to set up a R5 billion regional development fund to back member-state projects, alongside calls for a 15-year AGOA extension to protect jobs and market access. Governance & Reform Mandate: The summit gave incoming SACU Executive Secretary Dumsani Masilela a mandate to implement the “re-imagined SACU Agenda,” with reforms extending the bloc’s strategic plan to 2028/29. De Beers Ownership Watch: De Beers CEO Al Cook says the company’s sale process is nearing completion and hinted ownership could evolve into a partnership model involving diamond-producing governments—raising hopes for Botswana to deepen its stake beyond 15%. Transport Policy Tension: Botswana taxi operators warn they may surrender permits and move to e-hailing if new rules are seen as favouring digital platforms. Agriculture Resilience: Botswana launched a National Fodder Production Strategy targeting an extra one million tonnes of fodder annually by 2030 to cut the feed deficit and strengthen the livestock economy. Banking Appointments: Afreximbank appointed Peter Adeshola Olowononi as Southern Africa Regional Operations Director, effective May 1.

SACU Summit Momentum: President Cyril Ramaphosa told SACU leaders that no country can prosper alone as global trade, technology and supply chains shift fast, urging deeper regional strength. Botswana Takes Chair: Botswana President Duma Boko accepted the incoming SACU chairmanship and pledged to push the Trans-Kalahari Railway linking Botswana’s coalfields to Walvis Bay. SACU Reform Mandate: Leaders backed reforms under new Executive Secretary Dumsani Masilela, extending the SACU Strategic Plan and approving a N$5 billion Regional Innovative Funding Mechanism, alongside calls for a 15-year AGOA extension and faster AfCFTA implementation. Trade & Border Focus: The summit also highlighted progress on digital trade and border facilitation, plus N$479 million in seizures from joint anti-illicit tobacco operations. Botswana Business & Sports: FDH Bank pledged K100m to Malawi’s TESSAM to keep CUCSA Games participation alive in Gaborone, while Botswana sports governance chatter continues around BNSC board disputes. Mining & Data for Discovery: Botswana Minerals’ James Campbell said exploration needs better integrated decision-making and that AI can help derisk mineral discovery by interrogating large datasets. Conservation Economy: Race for Rhinos returns in the Makgadikgadi to support relocation of 13 rhinos, aiming to turn conservation into jobs and a new tourism frontier.