AGP Executive Report

Angola–Botswana Diplomacy & Business: President Duma Boko’s three-day official visit to Angola kicks off with high-level talks with João Lourenço and an Angola–Botswana Business Forum aimed at unlocking new private-sector trade, investment and partnerships. Energy & Investment Push: Botswana’s energy overhaul stays in focus as KP Energy (KP Group) lines up a US$4bn renewable expansion plan to lift capacity toward 5GW, while the government’s solar-plus-storage and grid build-out continues to reshape the power debate. Mining & Exploration: Talonx moves to test copper potential at its 1,000km² Kihabe project in Botswana’s Damara Belt extension, targeting copper and base metals beyond existing zinc-lead-silver resources. Finance & Banking: Stanbic Bank Botswana appoints two senior leaders effective 1 October 2026, while Bank of Botswana stress tests say commercial real estate risks look manageable under moderate shocks. Macroeconomy: BMI forecasts Botswana consumer spending to fall by P1.3bn in 2026 as unemployment, inflation pressure and tighter credit bite. Water & Social: Water production dips 0.6% in Q1 2026, and Tutume reports child neglect cases linked to parents living apart or leaving children with relatives. Capital Markets Watch: Standard Chartered Bank Botswana issues a cautionary note expecting higher first-half profit before tax. Security: Police uncover explosives in Peak Timbers forest, with preliminary links to illegal mining.

Botswana Economic Policy: Vice President and Finance Minister Ndaba Gaolathe says Pula stability can’t rely on monetary policy alone as diamond-market weakness strains revenues and foreign exchange reserves, urging stronger economic fundamentals. Banking & Risk: Bank of Botswana stress tests show commercial real estate risks are manageable under moderate shocks, but vulnerabilities could surface in harsher scenarios. Household Demand: New projections warn Botswana consumer spending will fall by about P1.3 billion in 2026 as unemployment, inflation pressure and tighter credit hit purchasing power. Investment Delivery: BETP’s mid-year review says government has shifted from planning to execution, tackling land access, financing, regulation, infrastructure and coordination to unblock 186 priority projects. Telecom Growth: BTC targets P1.7 billion revenue and EBITDA above 35% by leaning on network investment, AI and data-driven digital services. Energy Transition: KP Energy, via BITC facilitation, eyes a major renewable scale-up in Botswana under a large MoU aimed at growing capacity toward 5GW. Trade & SME Support: DHL Express and Absa expand the GoTrade programme to help SMEs trade across Sub-Saharan Africa with logistics and finance support. Agriculture Markets: Okavango horticulture farmers say market structures are limiting higher-value crop growth, pushing them toward easier-to-sell produce. Corporate Watch: Standard Chartered Bank Botswana issues a cautionary note expecting higher first-half profit before tax. Tax Rules: Botswana’s new controlled foreign entity attribution rule reshapes how residents’ offshore income is taxed. Business Diplomacy: President Duma Boko begins a three-day official visit to Angola focused on economic, commercial, investment and political cooperation, including a business forum and a trip to the Lobito refinery. Sports & Society: Botswana sports leader Keenese Katisenge-Tizhani lands an AU Sports Council women’s role, while UB flags poor coordination as the main barrier blocking innovations from reaching the market.

Botswana Sports Spotlight: Ghana’s Theophilus Nii Kpakpo Allotey says he’ll “go all out” in a WBA eliminator against Argentina’s Facundo David Garcia at Osagyefo Fight Night on 19 September, while Olympic bronze medallist Samuel Takyi returns to the ring against Botswana’s Bagwasi after signing with Legacy Rise Sports. Community & Social Impact: Mercy Mission is urgently seeking public and business support after losing key donors, warning its Orphan 7 and Imam Development Program across 14 African countries could be hit by a major funding shortfall. Trade & Tourism Links: South Africa’s citrus exporters have expanded access to India with added fruit-fly cold-treatment options, boosting momentum for newer Zimbabwe and Botswana production. Regional Diplomacy: Angola and Botswana have launched a new phase of cooperation after agreeing to move from a first bilateral commission meeting in 2026 toward a binational commission in 2027. Business & Finance Watch: Nigeria’s SEC has approved Dangote Refinery’s IPO, clearing the way for Africa’s biggest share sale, with the order book set to open on 14 September. Botswana Economy & Policy: Botswana’s competitiveness ranking in IMD’s 2026 index places it among the lower performers in Africa, with infrastructure cited as a key drag. Conservation & Data: A lion census is underway in the Kgalagadi Transfrontier Park, combining surveys across Botswana and South Africa to guide management decisions.

Dangote IPO cleared: Nigeria’s SEC has approved the Dangote Refinery IPO, a potential $1.6bn share sale, with the order book set to open Sept. 14 and shares priced at 525 naira. Botswana investor pull: Aliko Dangote told investors in Botswana the IPO will open within 10–12 days, while President Duma Boko urged him to back major local projects like cement and the Trans-Kalahari rail, including using Botswana pension funds. Regional business & tourism: Emirates expands codeshare links with SAA to add routes including Gaborone, while Hilton signs to open its first Zimbabwe hotel (Hilton Garden Inn Harare) in early 2029. Botswana-linked infrastructure: A school and clinic in Gaborone were unveiled under a prefabricated “tech-enabled campus” model financed by Zunaid Moti’s African Hero. Conservation & data: A lion census is underway in Kgalagadi Transfrontier Park, combining Botswana and South Africa counts using camera traps and vehicle surveys. Travel warning: Tourists are being cautioned that AI travel advice can mislead on visa rules, leaving families in trouble at Zimbabwe borders.

Dangote Refinery IPO Watch: Nigeria’s SEC has approved Dangote Refinery’s IPO, with shares priced at N525 and an offer of 4.1 billion shares that could raise about N2.15tn (roughly $1.6bn), as the order book is set to open around Sept. 14. Botswana–Dangote Push: In Gaborone, President Duma Boko urged Aliko Dangote to back major local projects—especially cement and the Trans-Kalahari rail—and to involve Botswana pension funds and domestic investors. Regional Finance Signals: A new review says many African sovereign loans in H1 2026 went to budget support and debt management rather than productive investment, with Botswana among countries facing downgrades. Food Prices Reality Check: A comparison of a R5,000 grocery basket shows how far money stretches differently in Botswana vs South Africa, using local promotions and exchange-rate conversion. Road Safety Focus: Botswana’s prosecution chief says men accounted for 71% of road deaths (2021–2025), with speeding, drinking and low seatbelt use flagged as key risks. Health Supply Boost: Bomaid donated biopsy needles and drains worth P276,000 to Princess Marina Hospital’s breast unit to reduce patient costs and delays.

Dangote IPO Watch: Nigeria’s SEC has approved Dangote Refinery’s IPO, clearing the way for Africa’s biggest share sale, with the offer set at 4.1bn shares priced at 525 naira each and potentially raising about $1.6bn; the order book is expected to open on September 14. Botswana–Investment Push: President Duma Boko met Aliko Dangote in Gaborone to press for major projects, including cement and the Trans-Kalahari rail corridor, urging use of Botswana’s pension and institutional investors and stronger execution of policies. Regional Credit Signals: An Africa sovereign credit review says many African states borrowed over H1 2026, but a lot of funds went to budgets and debt management; Botswana and Mozambique were downgraded while several others saw upgrades. Competitiveness Ranking: IMD’s 2026 global competitiveness results place South Africa first in Africa, with Botswana at 66th globally, reflecting a broader infrastructure gap across the region. Botswana Health Support: Bomaid donated biopsy needles and drains worth over P276,000 to Princess Marina Hospital’s Breast and Endocrine Unit to reduce out-of-pocket costs for patients. Road Safety Focus: Prosecutors say Botswana lost 1,887 people on the roads between 2021 and 2025, with men making up 71% of fatalities, and urge attitude change beyond just driver numbers. Mining Update (Botswana): Serval Resources confirmed renewal of all exploration licences in its Botswana portfolio, keeping its Kalahari Copper Belt prospects active.

Dangote IPO Watch: Nigeria’s SEC has approved the Dangote Refinery IPO, with shares priced at N525 and an offer of 4.1 billion shares that could raise about N2.15 trillion (roughly $1.55bn). The order book is expected to open Sept. 14, after Dangote told investors in Botswana the listing would start in 10–12 days. Botswana–Dangote Deal Push: In Gaborone, President Duma Boko urged Dangote to back major local projects, including cement and the Trans-Kalahari rail corridor, and to involve Botswana pension funds and domestic investors. Regional Energy Expansion: Dangote also set Sept. 30 for the groundbreaking of his Lamu refinery in Kenya, a $16bn project aimed at cutting East Africa’s reliance on imported fuel. Road Safety Accountability: DPP Kgosietsile Ngakaagae said Botswana lost 1,887 people on the roads (2021–2025), with men accounting for 71% of fatalities, urging men to take more responsibility behind the wheel. Competitiveness Snapshot: IMD’s 2026 ranking places Botswana 66th globally (South Africa leads Africa), highlighting infrastructure as a key drag. Exploration Update (Botswana): Copper explorer Serval says all its Botswana exploration licences have been renewed, keeping its Kalahari Copper Belt prospects active.

Dangote IPO Countdown: Aliko Dangote says the Dangote Petroleum Refinery IPO will open in 10–12 days, with pricing reported at N525 per share and a potential $1.5bn raise; the offer is expected to support plans to more than double capacity to 1.4 million barrels/day. Botswana Investment Push: During talks in Gaborone, President Duma Boko urged Dangote to back major projects including cement and the Trans-Kalahari rail corridor, stressing implementation and the role of Botswana pension funds. Regional Energy Expansion: Dangote also set September 30 for the Lamu oil refinery groundbreaking in Kenya, a $16bn project aimed at cutting East Africa’s reliance on imported refined fuel. Competitiveness Watch: IMD’s 2026 ranking places Botswana 66th globally (South Africa leads Africa), highlighting a gap where business efficiency is stronger than infrastructure. Cybersecurity for Trade: The Global Cybersecurity Initiative launched across Namibia with plans to connect businesses and governments including Botswana, targeting reduced cybercrime losses and faster digital growth. SME Cross-Border Boost: DHL GoTrade and Absa expand across Sub-Saharan Africa, with Botswana included, offering training and tools to help SMEs export. Health Support: Bomaid handed Princess Marina Hospital breast unit consumables worth P276,000 to speed diagnosis and post-surgery care. Sports Business: CAF Champions League prelims kick off this weekend, with Botswana’s Gaborone United hosting Yanga in the first round.

Botswana–Africa investment push: President Duma Boko met Aliko Dangote in Gaborone, urging big-ticket execution and asking him to bring Botswana’s pension funds and institutional capital into projects—especially the Trans-Kalahari rail line that could quickly boost demand for cement and steel. Fuel retail crackdown: The Botswana Energy Regulatory Authority (BERA) has given fuel stations three months to fix safety and environmental breaches or face closures and licence losses, citing missing spill containment, weak leak monitoring, poor procedures and untrained staff. Public sector pay deadlock: Government and unions remain stuck over local per diem controls, with DPSM rejecting unions’ preferred P800 accommodation arrangement and pushing tighter rules. Anti-corruption stance: DCEC says rising corruption reports don’t automatically mean corruption is increasing, pointing instead to growing public confidence in reporting and the need for stronger prevention. Wildlife trade case: A Botswana man was arrested at the Limpopo border for allegedly smuggling a live pangolin into South Africa, with the matter set for bail application in September. Health partnership: Bomaid and Princess Marina Hospital are handing over breast-cancer clinical consumables to strengthen earlier detection. Finance for diversification: First National Bank Botswana and SPEDU signed an information-sharing framework to help unlock bankable co-financing for industrial projects in the Selebi Phikwe region.

Anti-Corruption Focus: Botswana’s DCEC says the surge in corruption reports since 2023 doesn’t prove corruption is rising—957 reports were logged in 2025, up from 687 in 2024—arguing it may reflect growing public confidence and the need for stronger prevention. Wildlife & Borders: A Botswana man was arrested after allegedly crossing into South Africa with a live pangolin hidden in his bag; the case is set for a bail application on 17 September. Fuel Safety Crackdown: BERA has given fuel retailers three months to fix safety and environmental breaches or face closures and licence losses, citing missing spill containment, weak leak monitoring and untrained staff. Public Service Pay Deadlock: Unions and the Directorate of Public Service Management remain stuck on local per diem rules, with DPSM rejecting a P800 accommodation approach. Business & Infrastructure: Aliko Dangote met President Duma Boko to discuss large infrastructure deals, including the Trans-Kalahari rail push. Health & Early Detection: Bomaid and Princess Marina Hospital are deepening a partnership to boost breast cancer early detection with clinical consumables. Capital Markets: Continental Reinsurance is set for Botswana’s first major IPO in almost a decade, aiming to list on the BSE on 5 October.

Zambia Politics & Stability: Zambia’s President Hakainde Hichilema was sworn in for a second term after a disputed Aug. 13 election, with his main rival Brian Mundubile detained on treason charges; observers raised concerns about tallying and verification as courts were sealed off for legal challenges. Botswana Justice & Crime: Botswana filed for the provisional arrest of two nationals detained in Eswatini over alleged P1.57m cellphone theft, linked to an ATM bombing in Hhohho. Health Financing Skills: ECA’s African Center of Statistics ran a five-day workshop for Botswana, Ethiopia, Sierra Leone and Togo to help health ministries build “health as investment” economic accounts. Energy & Regional Trade: Zimbabwe and Mozambique pushed ahead with Phase II expansion of the Beira–Feruka fuel corridor (CPMZ), boosting pipeline capacity to strengthen energy security across the region, including Botswana. Digital Infrastructure & 5G: WIOCC secured US$300m for Africa’s open-access digital backbone, while Botswana’s BTC plans commercial 5G in Gaborone in October with BWP 240m investment. Business & Markets: Sandfire Resources’ copper operations across Spain and Botswana drove shares to a fresh high after a strong full-year result; in retail, Cashbuild reported revenue growth but warned consumers remain squeezed. Insurance Push: Continental Re raised US$155m for growth, targeting underinsured African markets.

Botswana Business & Finance: Continental Reinsurance is set for Botswana’s first IPO in nearly a decade, aiming to raise about P155m to expand underwriting capacity and grow new insurance products as Africa remains underinsured. Digital Economy: Botswana Telecommunications Corporation (BTC) plans to launch commercial 5G services in Gaborone in October, investing over BWP 240m in 2026/27 to boost capacity and strengthen 4G coverage. Energy & Infrastructure: WIOCC Group secured a combined US$300m from Africa Finance Corporation and Vision Invest to expand open-access digital infrastructure across Africa. Retail & Consumer Markets: Cashbuild reported higher revenue but weaker profits as tough trading conditions squeeze household spending; it also flagged losses linked to its Malawi exit. Governance & Compliance: Botswana’s property professionals are urged to engage on real estate reforms tied to AML/CFT/CPF expectations ahead of an ESAAMLG mutual evaluation in 2027. Corporate Moves: KP Group and Saudi Arabia’s Raz Holding signed a non-binding LOI to explore a strategic investment or collaboration. Health & Society: Botswana’s Beyond 40 Walk Weekend in Gaborone is set for Sept 5, with officials and ministers expected to join.

Botswana IPO Watch: Continental Reinsurance Holdings is set to become the Botswana Stock Exchange’s first IPO since 2017, raising capital to back Africa’s under-insured market, with the offer opening Aug 5 and closing Sept 16. Mining & Equipment: Epiroc has won a large underground machinery order for MMG’s Khoemacau copper expansion in Botswana, with deliveries starting Q4 2026 and support services included. Regional Energy Trade: Zimbabwe and Mozambique are set to launch the second phase of the Beira-Feruka pipeline expansion, boosting capacity to meet rising fuel demand across SADC, including Botswana. Banking Results: First National Bank Botswana expects full-year pretax profit growth of up to P235 million, while Absa Botswana also signals higher half-year earnings. Tax & Households: Botswana’s new tax laws aim to modernise the framework, broaden the base and strengthen revenue collection amid fiscal pressure. Cybersecurity Alert: Hungry Lion says customer credentials were exposed for months, underlining ongoing online fraud and data-risk concerns. SADC Mining Inclusion: Women miners in Gaborone call for all-gender inclusivity in artisanal and small-scale mining policy and funding.

Zambia Politics & Governance: Hakainde Hichilema was sworn in for a second term in Lusaka after a disputed Aug. 13 election, with his main rival Brian Mundubile detained on treason charges; observers also raised concerns about vote tallying and verification. Botswana Business & Finance: First National Bank Botswana expects full-year profit before tax to rise by up to P235 million, while other banks and a Bank of Botswana survey point to cautious optimism but still-high borrowing costs and weak fiscal space. Trade & Macroeconomics: Botswana’s trade deficit widened to P15.54 billion in H1 2026, up P9.9 billion year-on-year. Mining & Industry: Epiroc won a large underground equipment order worth about SEK 610 million for MMG’s Khoemacau copper expansion in Botswana, and Galvanising Botswana pushed a steel downstream plan targeting 100,000 tonnes of steel a year. Digital & Cyber: WIOCC secured $300m for Africa digital infrastructure, while INTERPOL flagged cyber threats for Botswana and Hungry Lion reported exposed customer credentials. Policy & Tax: Botswana’s new tax laws aim to modernise the framework and broaden the base amid fiscal pressure. Regional Inclusion in Mining: SADC artisanal mining stakeholders in Gaborone called for all-gender inclusivity to improve women’s access to finance, safety and formalisation.

Zambia Politics: Hakainde Hichilema is set to be sworn in for a second term in Lusaka, days after his rival Brian Mundubile was moved to Mukobeko Maximum Security Prison on treason charges—raising fresh questions about the fairness of the election process. Botswana Governance: Midterm progress report from Moeti Mohwasa says government has paid over P2.05bn in old-age pensions and settled supplier arrears, but key promises like the pension level and tertiary allowance still fall short. Inflation & Costs: Bank of Botswana Governor Lesego Moseki warns businesses and households to brace for persistent inflation pressures driven by fuel and electricity costs, livestock movement limits, and global geopolitical risks. Business & Regulation: BOMRA is drafting rules for a new medicines law, while the NCC issued a Ford Ranger recall affecting 2,275 vehicles in South Africa and 24 in Botswana over side-airbag deployment risk. Finance & Markets: Continental Reinsurance Botswana appoints Poneso Ndonje as managing director, and the Bank of Botswana survey flags higher borrowing costs and tougher collateral as major growth headwinds. Trade & Digital Economy: UNESCO and Botswana stakeholders kick off mapping of the digital environment for the cultural and creative industries, aiming to improve skills, market access, and financing. Security & Crime: Two Zimbabweans were arrested in Botswana over a Maun robbery of more than P375,000, and a pangolin case saw a Botswana national arrested at the Limpopo border.

Inflation Watch: Bank of Botswana Governor Lesego Moseki says businesses and households should brace for persistent inflation as fuel and electricity costs rise, livestock movement curbs from foot-and-mouth linger, and global geopolitical tensions keep price pressure elevated. Policy Delivery Check: Moeti Mohwasa reports midterm progress on social protection and debt clean-up, but flags shortfalls on flagship targets like old-age pensions and tertiary allowances, plus supply interruptions affecting free sanitary pads. Regulation & Industry: BOMRA CEO Dr Seima Dijeng consults stakeholders on rules for the new Medicines and Related Substances Act, still not in force, aiming for a system Botswana can rely on and trading partners can recognise. Consumer Safety: The National Consumer Commission warns of a Ford Ranger recall affecting 2,275 vehicles in South Africa, with 24 in Botswana, over side curtain airbag deployment risk. Digital Economy: UNESCO and Botswana stakeholders map the digital environment for the cultural and creative industries, targeting better skills, market access and financing. Crime Update: Two Zimbabweans were arrested in Botswana over a Maun robbery allegedly involving over P375,000. Business Climate: A Bank of Botswana survey finds firms’ biggest worry is higher borrowing costs and tighter collateral requirements. Tech for Women: GirlCode Hackathon 2026 launches across South Africa and Botswana, with teams progressing to a pan-African finals.