AGP Executive Report

Tongaat Hulett Rescue Talks: Vision Group says it is in talks with South Africa’s Industrial Development Corp (IDC) to take an equity stake in sugar refiner Tongaat Hulett, potentially unlocking fresh funding and giving administrators grounds to withdraw liquidation filings ahead of a key court process. Banking Pressure: Absa Botswana flags rising credit losses and expects households to struggle as debt and inflation bite, while Standard Chartered links weaker diamond prospects to the Middle East conflict’s drag on global demand. Insurance Tribunal Clash: Botswana’s CCA is set for a tribunal showdown with major short-term insurers, including BIC Insurance and Old Mutual Insurance, in a case involving dominant market players. Media Funding Debate: Botswana’s Draft Media Bill and proposed Media Development Fund are reigniting the question of how to support journalism without letting government financing undermine editorial independence. Ivory Stockpile Valuation: Government is looking inward for the value of accumulated elephant tusks as tusk volumes reach about 300 tonnes, following parliamentary scrutiny. Energy Skills Push: In Hwange, a technical college is training youth for the green energy transition via solar “train-the-trainer” programmes aimed at building local photovoltaic installation capacity. Sports & Events: Botswana will host the 2026 African Individual Chess Championships at Debswana Jwaneng Mine, while Bona Life returns as partner for the Betway Clash of Legends on June 20. Health System Strain: A report highlights medicine shortages in public facilities after a severe burns case forced a family to travel to a private hospital in Gaborone.

Botswana Health Watch: A Botswana family says an infant with severe scald burns was turned away at a public clinic due to missing medicines, forcing a 50+ km dash to a private hospital in Gaborone—highlighting ongoing medicine shortages and the risk to emergency care access. Regional Energy Finance: A report says African power systems are shifting from state utility monopolies toward hybrid models where private capital funds generation, storage and grids, with reliability driving longer contracts and tougher deal terms. Diamond Demand Push: De Beers is rolling out “Desert diamonds Icons” to build on its Desert diamonds campaign, aiming to lift natural diamond sales with retailer training and marketing support. Corporate Rescue Tension (SA, with regional links): Robert Gumede’s Vision Group and South Africa’s IDC are reportedly close to a deal that could end Tongaat Hulett’s business rescue and avert liquidation ahead of a Durban High Court showdown. Governance & Work: Botswana commentary argues board committees can strengthen oversight, while another piece warns that “client happiness” can quietly produce mediocre creative outcomes. Botswana Tourism Pressure: Authorities say more Batswana are choosing Namibia over local tourism and are investigating what Namibia offers that Botswana isn’t. Tech & Industry: Alexforbes says it is consolidating fund administration platforms across Namibia, South Africa and Botswana into one system to cut costs and improve service.

Tourism & Domestic Travel: Botswana officials say more Batswana are choosing Namibia for holidays, with the ministry probing why local tourism is losing out despite Namibia’s Okavango Delta draw. Health & Service Delivery: A case of a severely burned infant needing urgent medicines highlights ongoing medicine shortages at public clinics and the risk families face when transport and emergency care are limited. Power & Investment: A continent-wide shift is underway as African electricity projects increasingly use private capital, with reliability problems pushing buyers toward longer contracts and more complex deal structures. Tax Enforcement: Zimbabwe’s ZIMRA has launched midnight raids and vehicle seizures targeting alleged tax evasion by Harare’s elite, raising regional questions on enforcement and customs systems. Banking & Capital Markets: Standard Bank is backing Dangote’s $50bn refinery IPO, signalling renewed confidence in African capital formation. Energy Projects in Botswana: Seth Resources Petroleum says it plans a Chobe-area refinery and large storage facility to turn Botswana into an energy hub without producing crude oil. Regional Trade: SACU meetings in Cape Town will bring Botswana and others together to discuss customs and ways to deepen intra-regional trade. Digital Fraud: TransUnion reports Botswana’s suspected digital fraud at 0.9% of transaction attempts in 2025, the lowest in Africa, but warns scams are getting smarter.

Botswana Tourism: Botswana is worried more Batswana are choosing Namibia for holidays, with the Ministry of Environment and Tourism probing what Namibia offers that local destinations don’t. Regional Trade: South Africa’s CTICC2 will host major SACU meetings from 18–26 June, bringing together Botswana, Eswatini, Lesotho, Namibia and South Africa to push customs and trade cooperation. Banking & Capital Markets: Access Holdings says its acquisition spree is largely done and wants to be measured against Africa’s biggest bank, Standard Bank, as it shifts focus to profitability and investor returns. Energy & Industry: Botswana’s Seth Resources Petroleum plans a crude refinery and large storage facility in Chobe to turn imported oil into products for local use and SADC exports. Digital Economy: TransUnion reports Botswana’s suspected digital fraud rate at 0.9% of transaction attempts in 2025—low in Africa—but warns fraudsters are moving to higher-trust scams. Sport & Events: Botswana will host the 2026 African Individual Chess Championships at Debswana Jwaneng Mine (18–27 June), a World Cup qualifier expected to boost tourism and local chess development.

Banking & Investment: Access Holdings says it has finished its acquisition spree (about 20 deals in four years) and now wants to be judged on returns and efficiency, explicitly aiming to close the gap with Africa’s biggest bank, Standard Bank. Energy & Jobs: Botswana-based Seth Resources Petroleum unveiled plans for a crude refinery in Pandamatenga plus a 240-million-litre storage facility in Chobe, targeting an “energy hub” role through processing imported crude for local use and SADC exports. Digital Security: TransUnion reports Botswana’s suspected digital fraud rate is just 0.9% of transaction attempts in 2025—the lowest in Africa—while warning fraudsters are shifting to higher-trust scams. Tourism Demand: Botswana authorities say more Batswana are choosing Namibia over domestic tourism and are investigating what Namibia offers that local destinations don’t. Regional Trade: South Africa’s CTICC2 will host major SACU meetings next week, bringing together Botswana, Namibia and others to push customs and trade cooperation. Procurement Oversight: Zimbabwe’s minister warns public entities are bypassing standard price benchmarks via weak exemptions, undermining value-for-money reforms. Diamonds & Consumer Demand: A De Beers study finds Gen Z is driving higher natural diamond demand in the US, with average purchases now above $4,000. Capital Markets: Standard Bank will be a lead adviser for Dangote Petroleum Refinery’s $50bn IPO planned for September.

Retail Margins & Local Industry: SPAR says it will lean harder into own-brand/private label to lift margins and reignite growth after weaker interim results, with private label already at about 22% of sales and a push toward ~30%. Regional Finance Tech: Alexander Forbes is consolidating fund administration platforms across Namibia, South Africa and Botswana into one system, decommissioning legacy platforms to cut costs and improve client service. Tourism Competition: Botswana officials are alarmed that more Batswana are choosing Namibia over local tourism, prompting a fact-finding mission into what Namibia offers that Botswana isn’t. SACU Trade Talks: CTICC2 in Cape Town will host major SACU meetings from 18–26 June, with Botswana among expected participants to strengthen regional customs and trade. Digital Fraud Watch: TransUnion reports Botswana’s suspected digital fraud at 0.9% of transaction attempts in 2025, the lowest in Africa, while warning fraudsters are shifting to higher-trust scams. Energy & Jobs Plan: Seth Resources Petroleum says it wants to build a crude refinery and large storage facility in Chobe (Pandamatenga), aiming to turn Botswana into a regional energy hub without producing oil. Oil Market Push: Botswana is also positioning itself for petroleum value-chain growth via the proposed refinery and storage project. Botswana Business Spotlight: Botswana hosts AviaDev Africa, a platform to boost aviation connectivity and tourism, with hundreds of delegates expected. Procurement Integrity: Zimbabwe’s minister warns against abuse of procurement price exemptions that bypass the National Standard Price List—an issue with clear regional lessons for public spending discipline.

Procurement Watch: Zimbabwe’s industry minister Nqobizitha Ndhlovu warned public entities against abusing exemptions to bypass the National Standard Price List, saying it fuels inflated procurement costs and weakens value-for-money. Digital Security: TransUnion data shows Botswana’s suspected digital fraud is just 0.9% of transaction attempts in 2025, the lowest in Africa, though fraudsters are shifting to higher-trust scams. Aviation & Tourism: Botswana hosted AviaDev Africa, drawing about 450 delegates from 50+ airlines and stakeholders, aiming to boost air connectivity and the visitor economy. Energy & Power Reliability: Botswana Power Corporation reported 624 cable-theft incidents in Francistown since April 2025, costing about P6.864m and driving frequent blackouts. Local Business & Finance: PPC says Zimbabwe and South Africa now drive 99% of group revenue, after a US$36m dividend from PPC Zimbabwe. Policy & Citizen Support: Government is considering a repatriation fund to help families cover the high cost of bringing deceased Batswana home from abroad. Mining & Revenue Integrity: A broader push is underway across extractives to curb profit-shifting practices that can leak national tax revenue.

Aviation & Tourism Push: Botswana hosted AviaDev Africa with about 450 delegates, aiming to expand air links and boost tourism, trade and investment across the continent. Energy Regulation Spotlight: Dr Never Tshabang discusses his first months leading BERA, balancing price regulation and licensing while supporting Botswana’s energy transition. Local Industry Rules Under Strain: In Selebi-Phikwe, delays in gazetting a 30% government off-take policy are frustrating SMEs and investors, with inconsistent implementation across government bodies. Diamonds & Public Finance: Botswana is reportedly seeking UAE and Oman support to acquire a bigger De Beers stake, as synthetic stones and falling natural diamond demand raise questions about value for money. Power Stability Watch: Government says major winter load shedding is unlikely, citing improved generation performance at Morupule. Digital Access: Google expands “Ask Gemini in Chrome” to Botswana and other African markets, bringing built-in AI search and understanding to more users. Mining Capital Moves: Belararox secured an extra $2m for Kalahari copper drilling, strengthening its treasury ahead of exploration. Repatriation Cost Relief: Government is considering a national repatriation fund to help families pay for bringing deceased Batswana home from abroad.

Aviation & Tourism: Botswana is hosting AviaDev Africa, opened by Vice President Ndaba Gaolathe, drawing about 450 delegates from 50+ airlines, airports and policymakers to push new routes and partnerships that could boost visitor numbers, trade and investment. Energy Security: Botswana says major winter load shedding is unlikely, citing improved generation capacity at Morupule B and better stability on the grid ahead of June–July demand peaks. Diamonds & Investment: Botswana is looking to the UAE and Oman to help acquire more of De Beers, as President Duma Boko seeks “reliable, trusted partners” amid falling natural diamond demand and rising synthetic competition. Mining Markets: Absa’s Shirley Webber warns copper supply deficits may persist, pushing the industry toward faster brownfield expansions and smaller, previously uneconomic deposits. Digital Economy: Google is expanding “Ask Gemini in Chrome” to Botswana and other African markets, aiming to make AI search and understanding more accessible. Business & Finance: Foreign reserves in Botswana ticked up in March, with the Pula Fund and Government Investment Account improving, supporting the country’s external buffers. Corporate Moves: TiAuto’s Tiger Wheel & Tyre business in Southern Africa is being acquired by Japan’s Marubeni, a deal that includes Botswana operations and signals deeper international interest in the region’s automotive aftermarket.

Dangote Refinery IPO: Standard Bank has endorsed Aliko Dangote’s $50bn refinery listing, with its Stanbic unit set to advise on structuring and marketing ahead of a September IPO, underscoring investor appetite for African capital markets. De Beers Stake Talks: Botswana is seeking UAE and Oman partners to help acquire the remaining De Beers stake, as diamond demand softens and Anglo American looks to refocus. Public Finances Watch: The IMF says Botswana has the fastest-growing debt surge globally, with debt shifting from a net asset position in 2001 to projected gross debt of about 45.2% of GDP in 2026—raising fresh pressure on households and budgets. New City Push: Albaddad Holding has launched “New Botswana City” in Gaborone, a $1.9bn mixed-use project with phases spanning 1.24m sq m, aimed at boosting trade, tourism and investment. Power Supply: Government says major winter load shedding is unlikely, citing improved stability at Morupule B and better generation performance. Diamond Labour Pressure: Botswana Diamond Workers Union plans a nationwide campaign for higher wages and stronger protections across the mining value chain. Sports Economy: BNOC warns school sports neglect is a “national crisis,” threatening future talent pipelines.

Debt Watch: Botswana has been flagged by new IMF data as the fastest-growing debt surge country globally, with government debt projected to jump from a net asset position in 2001 to about 45.2% of GDP in 2026, as borrowing increasingly fills gaps from slower growth and diamond revenue pressure. Labour & Diamonds: Botswana Diamond Workers Union says it will launch a nationwide campaign for higher wages and better protections across the diamond value chain, arguing workers in cutting, polishing and processing remain trapped in poverty despite industry wealth. Retail Investment: Marubeni has acquired South Africa’s TiAuto Investments, a multi-brand tyre and automotive aftermarket operator with 161 stores across Botswana and other countries—signalling Marubeni’s first African automotive maintenance market entry. Property & Finance: Letlole La Rona appointed Ronil Sekgele Besele as CEO, while Westlife Insurance Botswana launched a five-year strategic plan after reporting P11m profit. Big Build for Gaborone: Albaddad Holding unveiled “New Botswana City,” a US$1.9bn, three-phase mixed-use project with BDC partnership, aiming to position Gaborone as a regional trade and events hub. Banking Outlook: BMI warns Botswana’s banking sector may stay stable but face limits on growth and profitability amid weak macro conditions and rising macro-fiscal risks. Sports Economy: BNOC warned school sports are absent and called it a national crisis, saying it threatens Botswana’s future athlete pipeline.

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.