AGP Executive Report

UAE-backed city project: Albaddad Holding has launched its “New Botswana City” in Gaborone with a projected $1.9bn (about P25bn–P26bn) mixed-use development, including convention and exhibition space, hotels, residences and commercial offices, backed by a partnership with Botswana Development Corporation. Sports economy: The Botswana National Olympic Committee says the lack of organized school sports is a “national crisis,” warning it could cost the country a generation of athletes and weaken long-term sporting and economic potential. Banking outlook: Business Monitor International warns Botswana’s banking sector will stay broadly stable in 2026 but face tighter conditions, with weak growth and diamond-sector uncertainty limiting credit demand and profitability. Solar manufacturing jobs: Sunlux Solar broke ground on a P14m manufacturing facility in Tlokweng, targeting about 160 jobs and local production of solar lighting products. Property dispute in court: Botswana’s Court of Appeal is set to hear an appeal on June 19 over a High Court ruling that halted sales of properties linked to Samson Guma Moyo, involving First National Bank Botswana. GBV numbers: Botswana recorded over 7,500 gender-based violence cases in the first quarter of 2026, with rape and defilement figures remaining high. Competition approval: CCA has approved CFAO Healthcare’s acquisition of a 75% stake in Medswana, a major pharmaceutical wholesaler, saying it is unlikely to distort competition. Digital fraud warning: A report highlights that even where fraud rates fall, criminals may shift tactics—targeting identity checks earlier in the process rather than transactions.

Mega-Project Push: Albaddad Holding has launched “New Botswana City” in Gaborone with Botswana Development Corporation, a $1.9bn, three-phase mixed-use development spanning 1.24 million sq m, anchored by a 124,000-sqm exhibition and convention centre and set to position the capital as a regional trade and tourism hub. Manufacturing Jobs: Sunlux Solar broke ground in Tlokweng on a P14m warehouse and manufacturing facility expected to create about 160 jobs, with 80% earmarked for women and young people. Corporate Performance: Primetime’s interim results show profits up 67% to P31m, driven by a P12.7m disposal gain and improved operations, though higher interest costs remain a drag. Pharma Deal: Botswana’s Competition and Consumer Authority has approved CFAO Healthcare’s acquisition of a 75% controlling stake in Medswana, a major pharmaceutical wholesaler, clearing the way for expansion in the supply chain. Public Safety Politics: Botswana Police Service has denied claims that the City Police Unit is being dismantled, saying it remains operational as speculation grows over resources and a shift toward the Safer City Project. Social Pressure: GBV data for Q1 2026 shows 7,517 cases recorded nationwide, with rape and defilement figures still alarmingly high. Regional Finance Cooperation: Botswana’s acting finance minister urged SADC to strengthen anti-money laundering and counter-terror financing cooperation to protect regional financial systems.

Mining Jobs Under Pressure: A year after retrenchments at Debswana contractor Enabler Hires left workers like Orapa installer Motshwegwa Rakhudu jobless, miners say they were cut without warning and left to battle loans and school fees amid scarce, lower-paid alternatives. Regional Finance Integrity: Botswana’s acting Finance Minister Wynter Mmolotsi urged SADC to strengthen anti-money laundering and counter-terror financing cooperation, warning that import dependence, tight fiscal space and external shocks are hitting trade, food security, energy and financial stability. Big Investment Push: UAE’s Albaddad Holding, via Botswana Development Corporation, has launched “New Botswana City” in Gaborone— a $1.9bn mixed-use development with an exhibition and trade centre as the first phase—aimed at attracting foreign capital as diamond revenues face pressure. Cement Turnaround: PPC reported a second straight year of turnaround gains, with EBITDA up 31% to about R2.1bn and a 72% dividend jump, supported by improved cash generation across South Africa and Botswana. TVET Partnerships: Higher Education officials say private training providers are poised to help drive Botswana’s TVET revolution as public colleges face capacity limits. Wildlife Diplomacy: KAZA states meeting in Victoria Falls backed a united stance on wildlife conservation and elephant product trade, with EU funding earmarked for livelihoods and conservation planning.

Botswana’s Big Investment Push: Albaddad Holding and Botswana Development Corporation have launched “New Botswana City” in Gaborone, a $1.9bn mixed-use development spanning 1.24m sq m in three phases, with construction already started on a $292m exhibition and trade centre; BDC will contribute land and hold an initial 5% stake, aiming to grow it to 26%, as diamond revenue pressures push the government to attract foreign capital. Corporate Turnaround Watch: JSE-listed PPC says its turnaround is paying off again, reporting a 31% jump in EBITDA to about R2.1bn and a 72% dividend increase, with South Africa cement driving results and Zimbabwe performing strongly in the second half. Business Climate Signals: A Bank of Botswana survey says firms see government spending as a major constraint, with unfavourable exchange-rate conditions and higher borrowing costs expected ahead, while inflation expectations remain within the 3%–6% target range. Mining Agenda: Botswana’s mining leaders will meet in Gaborone for the Future of Mining Summit (29–30 June) focused on investment, beneficiation and transformation amid the critical minerals boom. Regional Sports Politics: Namibia has denied it is part of any approved Southern Africa bid to host AFCON 2028, adding uncertainty to the proposed regional plan.

De Beers Deal Watch: Botswana is in talks with the UAE and Oman to potentially buy a bigger stake in De Beers, as Anglo American moves to sell its 85% holding—an effort that matters for a country where diamonds drive about 80% of exports and a quarter of GDP. Business Sentiment: A Bank of Botswana survey says firms are increasingly worried about weak government spending, an unfavourable exchange-rate environment, and tighter financial conditions, with cost pressures expected to rise. Mining Transformation: Botswana’s mining leaders will meet in Gaborone for the Future of Mining Summit (29–30 June) focused on investment, beneficiation and leadership, with attention on the exploration funding gap. Banking Leadership: Capricorn Group says Olebile Makhupe will step down as managing director of Bank Gaborone, with an interim acting MD to be named. Trade & Agriculture: Botswana has eased Foot-and-Mouth Disease controls after suppressing an outbreak, allowing permitted movement of cloven-hoofed animals and fresh products from affected zones. Tech & Infrastructure: Smart Hands Africa expands its services across Africa after being appointed an authorised Supermicro services partner, including installation, maintenance and break-fix support.

Banking Leadership: Capricorn Group says Bank Gaborone MD Olebile Makhupe will step down on 31 August, with an acting MD to be named as the group starts a recruitment process. Business Outlook: A Bank of Botswana survey warns firms face tighter financial conditions, higher borrowing costs and rising operating costs, with government spending seen as a key constraint. Mining & Investment: Botswana’s Future of Mining Summit 2026 (29–30 June) will focus on transformation, beneficiation and closing the exploration investment gap, including the role of the Exploration Investment Company Botswana. Diamonds Strategy: President Duma Boko confirms Botswana is in talks with the UAE and Oman to secure a strategic stake in De Beers as Anglo American prepares to sell its 85% holding. Trade & Compliance: Botswana denies it has any vessels registered under its flag after the US disabled a “Botswana-flagged” tanker, calling it a false-flag tactic. Livestock Sector: Botswana eases Foot-and-Mouth Disease controls after suppressing the outbreak, allowing permitted movements and slaughter at registered facilities.

Banking Leadership: Capricorn Group says Bank Gaborone MD Olebile Makhupe will step down, with an acting MD to be named and a permanent replacement recruitment process underway. Regional Trade & Integration: Namibia’s President Netumbo Nandi-Ndaitwah reaffirmed SACU’s role as a key regional economic pillar, stressing the need to adapt the customs union to new global arrangements. Diamonds & Capital Markets: Botswana is in talks with the UAE and Oman to secure a strategic stake in De Beers as Anglo American prepares to sell its 85% holding; the move targets more influence over pricing and marketing. Food & Agriculture: Botswana eases Foot-and-Mouth Disease controls after suppression of the outbreak in the northeast, allowing permitted movement and slaughter while aiming to limit revenue losses. Mining Equipment Investment: JCHX booked a Sandvik order for a 45-unit underground fleet for MMG’s Khoemacau Copper Mine in Botswana, with deliveries starting August 2026. Digital Economy & Culture: Botswana warns that piracy and unregulated AI could undermine the creative sector and cultural identity, calling for stronger protections for local creators.

De Beers Deal Talks: Botswana says it is in discussions with the UAE and Oman to secure a “strategic” stake in De Beers as Anglo American prepares to sell its 85% holding—aiming to strengthen Botswana’s influence over diamond pricing and marketing. FMD Easing: Botswana’s livestock sector gets relief as the Ministry of Lands and Agriculture relaxes Foot-and-Mouth Disease controls after the outbreak was suppressed, allowing permitted movement and trade of cloven-hoofed animals and products. Creative Sector Protection: Botswana warns that piracy and unregulated AI could erode the creative economy and cultural identity, urging stronger intellectual property protections. Tech & Data Centres: Smart Hands Africa expands its footprint as an authorised Supermicro services partner, offering installation, break-fix support and maintenance across multiple African markets including Botswana. Regional Finance: Afreximbank appoints Peter Adeshola Olowononi as director of regional operations for Southern Africa, covering Botswana and 12 other countries. Oil Shipping Scrutiny: Botswana rejects claims that a US-disabled tanker was “Botswana-flagged,” saying it does not register or operate vessels under its flag.

FMD Relief for Botswana’s Beef Sector: Botswana has eased Foot-and-Mouth Disease controls after suppressing the northeastern outbreak, allowing cloven-hoofed animal movement within affected zones under veterinary permits and seals, and permitting import/export of cloven-derived products subject to requirements—though 2026 projections still flag potential revenue losses of over N$222 million. De Beers Stake Talks: President Duma Boko says Botswana is in talks with the UAE and Oman to secure a “strategic” stake in De Beers from Anglo American, aiming for more control over pricing and marketing as rough diamond prices hit the economy. Mining Equipment Push in Botswana: JCHX has booked a Sandvik order for a 45-unit underground fleet for MMG’s Khoemacau Copper Mine, with deliveries starting August 2026 through April 2030. Creative Economy Warning on Piracy & AI: Botswana’s broadcasting officials warn that piracy and unregulated AI could erode the creative sector and cultural identity unless stronger protections are put in place. Tech Services Expansion: Smart Hands Africa adds Supermicro to its portfolio, offering installation, break-fix support, maintenance and consulting across multiple African markets including Botswana. Energy Skills for Youth and Women: A new oil-and-gas value-chain programme is set to train youth, women and citizen-owned enterprises, positioning them for emerging sector opportunities.

Botswana–Diamonds Deal Talks: President Duma Boko says Botswana is in talks with the UAE and Oman to buy a “strategic” stake in De Beers from Anglo American, aiming to gain more control over pricing and marketing as rough diamond prices slump. Mining Investment in Botswana: Sandvik has secured a roughly US$70m order for a 45-unit underground equipment fleet for MMG’s Khoemacau copper mine, with deliveries starting August 2026. Corporate Appointments: Botswana Minerals appoints David Cockbill as a non-executive director, while Bank Gaborone MD Olebile Makhupe steps down on 31 August 2026. Energy Skills Push: Botswana launches a youth, women and citizen-enterprise programme to build capability across the oil and gas value chain, positioning Batswana for future energy opportunities. Regional Trade & Finance: Afreximbank names Olowononi as Southern Africa director of regional operations, and Swakopmund is highlighted as a key AfCFTA trade hub. Policy & Governance: Botswana’s AG advises MPs on drafting House motions, warning against mislabelled resolutions. Tech Services Expansion: Smart Hands Africa becomes an authorised Supermicro services partner, extending post-sales support across multiple African territories including Botswana.

Botswana Food Security: Botswana has boosted grain storage under the Pandamatenga Grain Silos project, adding 60,000 metric tonnes to raise total capacity from 30,000 to 90,000 tonnes—aimed at cutting post-harvest losses and strengthening reserves. Mining & Equipment Investment: Sandvik has secured a roughly US$70m order for a 45-unit underground mining equipment fleet for MMG’s Khoemacau copper mine in northwest Botswana, with deliveries starting August 2026 through April 2030. Regional Trade & Integration: Swakopmund is being positioned as a key AfCFTA trade hub, with the focus on how cities can drive logistics, infrastructure and market access across Africa. Digital Assets & Finance: Africa Bitcoin Corporation says it increased its Bitcoin holdings by buying an additional 0.5085 BTC, funded via an expansion of its secured digital asset lending facility, bringing total holdings to 5.5331 BTC. Governance & Accountability: The DPP has reportedly moved to prosecute a perjury complaint tied to Botswana’s discredited P100 billion scandal, potentially reopening questions around fabricated testimony. Leadership Change: Bank Gaborone MD Olebile Makhupe has announced her resignation, effective 31 August 2026, with an interim acting MD expected soon while a permanent replacement is recruited.

Mining & Equipment Deal: Sandvik has won a roughly US$70m order for a 45-unit underground mining equipment fleet for JCHX at MMG’s Khoemacau copper mine in Botswana, with deliveries starting August 2026 and running to April 2030. Food Security & Agriculture: Botswana has expanded Pandamatenga grain silos by 60,000 metric tonnes, lifting total storage from 30,000 to 90,000 tonnes to cut post-harvest losses and strengthen reserves. Battery Materials Economics: Giyani Metals’ K.Hill battery-grade manganese project in Botswana has posted strong DFS results, including a post-tax NPV (8%) of US$481.5m and post-tax IRR of 20.3%. Central Bank Watch: The Bank of Botswana warns labour market conditions may have worsened after earlier 2024 employment gains were likely wiped out by private-sector weakness amid the diamond downturn. Trade & External Pressures: Botswana’s wider regional trade picture includes a reported widening deficit in Zimbabwe, underscoring how import-heavy economies remain exposed to commodity swings. Public Order: Botswana Police warned social media users against fake news, citing possible criminal liability for rumours that cause public alarm. Regional Politics & Sport: Government distances itself from claims of involvement in an Afcon 2028 hosting bid. Geopolitics Impacting Shipping: US forces disabled a Botswana-flagged oil tanker (M/T Lexie) near Iran’s Kharg Island during the Strait of Hormuz blockade, as US-Iran tensions continue to disrupt regional maritime activity.

Botswana’s Investment Pitch to Korea: Foreign Minister Phenyo Butale tells The Korea Herald that Botswana can supply critical minerals for batteries and green tech, while offering Korean firms a pipeline of 186 priority projects under the BETP and opportunities in infrastructure upgrades and value-added manufacturing. Food Security Push: SEZA and BAMB have expanded Pandamatenga grain silos by 60,000 tonnes, lifting total storage to 90,000 tonnes to cut post-harvest losses and strengthen national reserves. Diamonds for Development Leadership: Former AfDB president Akinwumi Adesina has been appointed Chairperson of Botswana’s Diamonds for Development Fund, expected to take office on June 15. Mining Economics Update: Giyani Metals reports positive definitive feasibility study results for its K.Hill battery-grade manganese project in Botswana, citing strong post-tax returns and cashflow. Policy & Public Order: Botswana Police warn against fake news and misinformation on social media, citing possible criminal liability. Regional Shock Spillover: US strikes on a Botswana-flagged tanker in the Strait of Hormuz underline how Middle East tensions can disrupt trade routes and risk assets.

Botswana Economy: The Bank of Botswana warns that after two years of contraction, labour market conditions are likely worsening again, with modest early-2024 job gains expected to have been wiped out by weakness in the private sector, tied to the long diamond downturn. Diamonds & Development: Former AfDB president Akinwumi Adesina has been appointed Chairperson of Botswana’s Diamonds for Development Fund, with a formal start expected on 15 June, as the initiative aims to drive diversification beyond mining. Regional Governance: SADC has renewed the board of the Regional Fisheries Monitoring Control and Surveillance Centre in Maputo, keeping Namibia’s Stanley Ndara as chair and adding Botswana’s Kagisanyo Bedi to the board. Global Trade Shock (Hormuz): US CENTCOM says it disabled a Botswana-flagged tanker, M/T Lexie, with a Hellfire missile after repeated warnings during enforcement of the Iran port blockade, as Iran-US strikes around the Strait of Hormuz continue to rattle shipping and oil markets. Finance: Momentum Group reports strong earnings growth across Africa, with Momentum Africa (including Botswana) up 60% in normalised headline earnings.

Maritime Security & Trade Disruption: The U.S. Central Command disabled the Botswana-flagged tanker M/T Lexie near the Strait of Hormuz with a Hellfire missile after the crew ignored warnings for 24 hours, as Washington enforces its blockade of vessels linked to Iran’s ports; CENTCOM says it has disabled six commercial ships and redirected 122 since April 13, while the incident raises fresh risks for Gulf shipping and commodity flows. Regional Governance & Fisheries: SADC reappointed Stanley Ndara to chair the Regional Fisheries Monitoring Control and Surveillance Coordination Centre board in Maputo, with Botswana’s Kagisanyo Bedi among members, as the bloc pushes tougher controls against illegal fishing and rolls out a regional fishing vessel register. Diamond Industry Strategy: Botswana used the JCK platform to stress a shift from traditional diamond selling toward AI-enabled traceability, ownership and digital trading, amid growing pressure from lab-grown gems. Tobacco Policy Push: Botswana is urged to fast-track and implement Tobacco Control Act (2021) regulations after a new Tobacco Industry Interference Index flags rising industry influence, especially around youth vaping and nicotine products. Digital Skills & Youth Jobs: Orange Botswana’s Digital Centre says it has trained 4,300 youths since launch, supporting coding, entrepreneurship and digital fabrication for the country’s expanding tech economy. Finance & Pensions: Alexander Forbes’ Umbrella Retirement Fund surpassed BWP 5 billion in assets under management in Q1 2026, highlighting continued growth in Botswana’s institutional investment landscape.

Anti-Corruption Overhaul: Botswana moves to introduce a new Anti-Corruption Bill to Parliament this July and plans to grant the DCEC full operational independence, with officials warning that corruption drains services and jobs. Legal Pressure on DCEC: Ex-DCEC chief Tshepo Pilane has filed a suit against government over alleged unlawful demotion and death threats, naming top state security and justice officials. Mining Deal Cleared: Botswana’s Court of Appeal has cleared the way for the controversial sale of Mupane Mine after overturning a High Court halt. Air Botswana Rescue: Air Botswana is seeking to convert a government loan into equity after years of losses and governance problems, as the state injected hundreds of millions of pula. Economy Mood Turns Sour: Bank of Botswana data shows firms remain broadly pessimistic for early 2026, citing weak government spending, exchange-rate pressure and rising costs. Household Cost Squeeze: Beef prices in Gaborone have jumped sharply amid inflation and FMD-related supply limits. Digital Skills Push: Orange Botswana’s Digital Centre says it has trained 4,300 youths since launch. Regional Security & Trade: Botswana weighs extradition of six Mexican fugitives; South Africa’s new SARS border rule requires foreign-registered vehicle travellers to declare details online before crossing. Tech & Business: Huawei launches the nova 15 Max in Gaborone, while Letshego outlines a restructuring that exits five African markets as Axian expands its footprint.