AGP Executive Report

Botswana–Angola Deal Push: President Duma Boko wrapped up key meetings in Luanda, backing the removal of trade barriers and calling for stronger mining, energy transmission links, tourism and diamond-sector cooperation as both countries sign new instruments and plan business matchmaking through an Angola–Botswana economic forum. Power Supply Update: Botswana Power Corporation says all four Morupule B units are back online, cutting electricity imports as the country balances coal with renewables, including the 100MW Mmadinare Solar PV project. Consumer & Business Watch: Sky Clouds says it will align hotel salaries with the P4,000 minimum wage across its group and prioritise youth hiring; meanwhile, the National Consumer Commission flagged an Isuzu D-Max brake recall affecting 2,500+ vehicles sold in multiple countries including Botswana. Energy & Finance Signals: International Gemological Institute completed its consolidation of IGI Botswana into a wholly owned subsidiary structure; and Letshego Namibia’s A+/A1 credit ratings were reaffirmed with a stable outlook. Water & Livelihood Pressure: Statistics Botswana reports a 0.6% dip in Q1 2026 water production, with output concentrated in Gaborone 1 and the North, while a landless Katjiuanjo warns roadside grazing is unsafe for both livestock and road users. Regional Industry & Trade: Ministers across Africa backed livestock value-chain scaling at the Africa Food Systems Forum, and Botswana’s Vice President Ndaba Gaolathe warned that monetary policy alone can’t fully shield the Pula amid diamond-demand weakness.

Botswana–Angola Business Push: President Duma Boko’s three-day official visit to Angola is set to deepen economic and private-sector ties, with a bilateral economic forum and new legal instruments on the agenda, plus a stop at the Lobito refinery. Energy Overhaul Momentum: Botswana’s energy shift is gathering pace as KP Energy (via BITC) lines up a US$4bn renewable push toward nearly 5GW, while policy voices stress that monetary policy alone can’t shield the Pula amid diamond-linked shocks. Rail & Logistics Focus: A World Bank specialist argues rail revival needs more than rehabilitation—policy, regulation, and commercial restructuring must work together to beat road competition. Water Supply Watch: Statistics Botswana reports first-quarter 2026 water production fell 0.6%, with Gaborone 1 and the North region supplying 54% of output. Consumer Pressure: BMI forecasts Botswana household spending to drop by P1.3bn in 2026 as unemployment, inflation pressure, and tighter credit bite. BETP Moves to Delivery: The BETP mid-year review says the programme has shifted from planning to execution, targeting 186 priority projects across sectors. SME Trade Support: DHL Express and Absa expand the GoTrade programme across Sub-Saharan Africa to help SMEs trade across borders with logistics and finance support. Creative Sector Funding: Government signals a near-release of a P200m creative sector levy fund, aiming to boost jobs and opportunities for artists. Horticulture Market Gaps: Okavango farmers say horticulture growth is being held back by limited, poorly structured markets, pushing them toward lower-value crops. Explosives & Illegal Mining Risk: Police found explosives in Peak Timbers forest, with preliminary links to illegal mining—raising pressure on environmental crime enforcement.

Botswana–Angola Diplomacy: President Duma Boko arrives in Luanda for a three-day official visit, with talks expected to deepen cooperation in agriculture, energy, mining, transport, logistics, tourism, diamonds and food security, and to advance new legal instruments. Water Supply Watch: Statistics Botswana reports national water production fell 0.6% in Q1 2026 to 31.33 million kL, with Gaborone 1 and the North supplying 54% of output. Pula Under Pressure: Finance Minister Ndaba Gaolathe says monetary policy alone can’t shield the Pula as diamond downturn risks strain revenues, reserves and fiscal space. Consumer Demand Cooling: Business Monitor International forecasts Botswana household spending down by P1.3bn in 2026, as unemployment, inflation pressure and tighter credit weigh on purchasing power. Renewables Push: KP Energy, via BITC, signals a US$4bn MoU to scale Botswana renewables toward ~5GW. SME Trade Boost: DHL Express and Absa expand the GoTrade programme across Sub-Saharan Africa to help SMEs trade across borders. Horticulture Market Gap: Okavango farmers say horticulture growth is held back by thin, poorly structured markets, limiting higher-value crop expansion. Tax Rule Update: Botswana’s new controlled foreign entity attribution rule (from 1 July) reshapes how residents’ offshore income is taxed. BETP Delivery Shift: The BETP mid-year review says focus is moving from planning to execution, tackling land, financing, regulation, infrastructure and coordination across 186 priority projects.

Dangote IPO Watch: Nigeria’s SEC has approved Dangote Refinery’s IPO, clearing the way for Africa’s biggest share sale, with 4.1 billion shares priced at 525 naira and an order book expected to open Sept. 14. Botswana Investment Push: President Duma Boko used a meeting with Aliko Dangote in Gaborone to urge major local investments, including cement and the Trans-Kalahari rail, and to involve Botswana pension funds. Regional Infrastructure & Social Delivery: Botswana-backed African Hero Foundation is set to expand in Malawi, with plans for 450 schools and clinics. Construction & Housing Finance: Botswana’s Duma Boko School and Clinic in Gaborone highlights a prefabricated, fast-build model—built by African Hero—while also underlining past government concerns about rent-back financing. Wildlife & Conservation Data: A lion census is underway in the Kgalagadi Transfrontier Park, combining surveys across South Africa and Botswana to guide management decisions. Trade & Agribusiness: South Africa widens its citrus export route into India, with Zimbabwe and Botswana producers boosting capacity and processing for new market access. Cybersecurity for Business: A Global Cybersecurity Initiative launches across several countries including Botswana, aiming to connect firms and governments to reduce cybercrime losses.

Dangote Refinery IPO: Nigeria’s SEC has approved Dangote Refinery’s IPO, clearing the way for Africa’s biggest share sale, with an offer of 4.1bn shares at N525 each (about N2.15tn if fully subscribed) and an order book opening on Sept. 14. Botswana–Industrialisation Push: In Gaborone, President Duma Boko urged Aliko Dangote to back major investments, including cement and the Trans-Kalahari rail corridor, and to involve Botswana pension funds and local institutions. Copper in Focus (Botswana): Serval Resources says all exploration licences in its Botswana portfolio have been renewed, keeping its Kalahari Copper Belt prospects active. Regional Energy/Infrastructure: Talks also highlighted a proposed transnational fuel pipeline route that would pass through Botswana, linking Zimbabwe and Namibia. Trade & Tourism Signals: Travel Promoters expands into Botswana and Mozambique with Kaelo Destinations, including Mashatu Game Reserve. Conservation & Wildlife Data: A new Southern Africa vulture protection alliance and cross-border wildlife censuses aim to track and curb population declines.

Sovereign wealth & public finance: Kenya’s new Sovereign Wealth Fund Act lays out a legal framework to invest part of natural resources and strategic assets for future generations, aiming to turn today’s revenues and tomorrow’s returns into a durable national wealth pool. Household costs: A Botswana vs South Africa grocery comparison shows how far a R5,000 basket stretches across the border, using local SPAR and Shoprite promos to highlight day-to-day affordability pressures. Botswana infrastructure & social delivery: President Duma Boko unveiled a prefabricated school-and-clinic in Gaborone built by African Hero, linked to Zunaid Moti’s Moti Group, after Botswana’s finance ministry previously rejected similar investor-backed proposals. Regional industrialisation push: Boko met Aliko Dangote in Gaborone to press for major investments, including cement and the Trans-Kalahari rail corridor, with emphasis on implementation and involving local pension funds. Dangote refinery IPO countdown: Dangote says the Dangote Refinery IPO will open in 10–12 days (order book opening cited for Sept. 14), with pricing around N525 per share and potential proceeds near $5bn, as the group also targets capacity doubling and a Kenya coastal refinery launch. Mining & exploration update: Serval Resources confirmed renewed exploration licences across its Botswana portfolio, keeping key Kalahari Copper Belt prospects active. Cybersecurity for business: A Global Cybersecurity Initiative launched across multiple countries including Botswana, aiming to connect governments and firms to reduce cybercrime losses and scale digital opportunities.

Dangote Refinery IPO: Nigeria’s SEC has approved Dangote Refinery’s IPO, clearing the way for Africa’s biggest share sale. The offer could raise about N2.15tn (around $1.6bn) if fully subscribed, selling 4.1bn shares at N525 each, with the order book set to open on Sept. 14 and a valuation put at roughly $47bn. Botswana–Dangote push: In Gaborone, President Duma Boko urged Aliko Dangote to back major local projects, including cement and the Trans-Kalahari rail line, and to involve Botswana pension funds. Regional energy build-out: Dangote also set Sept. 30 for the Lamu refinery groundbreaking in Kenya, a $16bn project aimed at cutting East Africa’s reliance on imported fuel. Local infrastructure and politics: Boko unveiled a school and clinic in Gaborone built by African Hero, linked to Zunaid Moti’s group, despite earlier concerns from Botswana’s finance ministry over the cost model. Mining pipeline: Serval Resources confirmed renewed exploration licences across its Botswana Kalahari Copper Belt portfolio, keeping key prospects active. Cybersecurity push: A Global Cybersecurity Initiative launched across several countries including Botswana, aiming to connect businesses and governments to tackle rising cyber threats.

Dangote Refinery IPO: Nigeria’s SEC has approved Dangote Refinery’s IPO, with 4.1 billion shares priced at N525 each—potentially raising about N2.15 trillion (around $1.55bn) and valuing the refinery near $47bn; the offer is expected to open around Sept. 14, after Dangote told investors in Botswana it would start within 10–12 days. Botswana–Dangote industrial push: President Duma Boko met Aliko Dangote in Gaborone, urging major investments including cement and the Trans-Kalahari rail corridor, and calling for use of Botswana pension funds and stronger implementation of plans. Lamu refinery date set: Dangote also confirmed Sept. 30 for the groundbreaking of a $16bn Lamu oil refinery in Kenya, aimed at supplying East Africa and reducing reliance on imports. Regional finance watch: A new Africa Sovereign Credit Rating Review says sovereign borrowing in H1 2026 topped $14bn, but much went to budget support and debt management rather than productive investment; Botswana was among countries downgraded. Botswana copper exploration: Serval Resources says all exploration licences in its Botswana portfolio have been renewed, keeping its Kalahari Copper Belt prospects active. Trade & logistics support: DHL Express and Absa expanded the GoTrade programme across Sub-Saharan Africa, with Botswana among markets already benefiting. Consumer safety recall: Woolworths/WBeauty Complete Clarifying Shampoo was recalled after a bacterium was detected; affected batches were sold across multiple countries including Botswana.

Dangote Refinery IPO: Aliko Dangote says the Dangote Petroleum Refinery share sale will open in 10–12 days, with pricing at N525 per share and a plan to raise about $5bn—a potential record for Africa’s listings. Botswana–Dangote push: President Duma Boko urged Dangote to back major Botswana projects, including cement and the Trans-Kalahari rail corridor, and to involve local pension and institutional investors. Lamu refinery date: Dangote also set September 30 for the groundbreaking of the Lamu oil refinery in Kenya, aimed at supplying East Africa and cutting reliance on imported refined fuel. Mining in Botswana: Serval Resources confirmed renewal of all exploration licences across its Botswana portfolio, keeping its Kalahari Copper Belt prospects active. Digital infrastructure: WIOCC secured $300m to expand Africa’s open-access fibre and data-centre footprint, supporting growing cloud and AI demand. SME trade support: DHL Express and Absa signed an MoU to expand the GoTrade programme, with Botswana among markets already benefiting. Consumer safety: Woolworths and the National Consumer Commission issued a recall of WBeauty Complete Clarifying Shampoo after detection of a bacteria linked to wet manufacturing environments. Cybersecurity platform: A pan-African Global Cybersecurity Initiative launched with Botswana included among early participating countries.

Product Recall: Woolworths has recalled WBeauty Complete Clarifying Shampoo after the National Consumer Commission flagged Pluralibacter gergoviae in a limited batch (SKU 6009233284823), sold across several countries including Botswana, with refunds offered. Energy & Infrastructure: Aliko Dangote set September 30 for the Lamu Oil Refinery groundbreaking and said the Dangote refinery IPO could open within 10–12 days, while Botswana President Duma Boko pressed for big-ticket investment and rail-linked industrial demand. Regional Fuel Security: Zimbabwe and Mozambique launched Phase II upgrades to the Beira–Feruka corridor, lifting pumping capacity from 3 million to 5 million cubic metres by end-2027 to create a fuel buffer for SADC. Digital Expansion: WIOCC secured $300m to expand Africa’s digital infrastructure, including data centres and fibre and subsea cable assets. Fuel Retail Oversight: Botswana’s BERA gave fuel stations a three-month ultimatum to fix safety and environmental breaches or face closures and licence action. Capital Markets: Continental Reinsurance Holdings is set to list on the Botswana Stock Exchange via a roughly P2.1bn IPO, a major test for investor appetite.

Gambling Reform: Botswana’s National Assembly has passed the Gambling (Amendment) Bill, 2026, keeping a key proposal to cut the legal gambling age from 21 to 18 as it updates the regulatory framework for the expanding sector. Energy Regulation: The Botswana Energy Regulatory Authority has given fuel retailers a three-month ultimatum to fix safety and environmental breaches, warning of closures, licence suspensions or revocations. Finance & Diversification: First National Bank Botswana and SPEDU have signed a partnership aimed at unlocking bankable finance for industrial, agribusiness, tourism and manufacturing projects in the Selebi Phikwe region. Infrastructure Investment: Aliko Dangote met President Duma Boko in Gaborone to discuss large-scale infrastructure deals, with the Trans-Kalahari rail corridor among the targets. Health Partnership: Bomaid and Princess Marina Hospital have joined forces to improve earlier breast cancer detection through a handover of essential clinical consumables. Regional Fuel Logistics: Mozambique and Zimbabwe launched an expansion of the Beira-Harare fuel corridor, boosting capacity by 67% and adding about two billion litres of fuel annually for landlocked markets including Botswana. Digital Infrastructure Funding: WIOCC Group secured a $300m investment from Africa Finance Corporation and Vision Invest to build and operate open-access digital infrastructure across Africa. Capital Markets Milestone: Continental Reinsurance Holdings is set to list on the Botswana Stock Exchange via an IPO of about P2.1bn, a major test for investor appetite in Botswana’s insurance sector.

Copper & Markets: Sandfire Resources, which runs the MATSA complex in Spain and the Motheo operation in Botswana, pushed shares to a fresh all-time high after a strong full-year result, record quarterly revenue, a swing to net cash and encouraging exploration near existing mines. Regional Energy & Fuel Security: Zimbabwe and Mozambique moved ahead with Phase II of the CPMZ Beira–Feruka pipeline expansion, lifting capacity from 3 million to 5 million cubic metres per year and adding about two billion litres of fuel annually for SADC markets including Botswana. Digital Infrastructure Investment: WIOCC Group secured a combined US$300m from Africa Finance Corporation and Vision Invest to expand open-access fibre, data-centre deployment and new subsea assets across Africa. Retail Under Pressure: Cashbuild reported higher revenue but weaker profits as consumers stayed cautious amid tough trading conditions and rising costs. Energy Regulation Crackdown (Botswana): BERA gave retail fuel stations a three-month ultimatum to fix safety and environmental compliance gaps or face licence action. Shoprite Deal Watch: Shoprite announced its acquisition of coffee chain Vida e Caffè (and a stake in R&A Cellular), a move that strengthens its convenience and coffee footprint across the region including Botswana. Mining Accountability: A Botswana-focused land and mining governance push highlighted harms linked to new copper mines and urged stronger enforcement of mining legislation.

Digital Infrastructure Investment: WIOCC Group secured a combined US$300m from Africa Finance Corporation and Vision Invest to expand open-access fibre, data centres and subsea assets across Africa, as internet use remains far below global levels. Retail & Consumer Pressure: Cashbuild reported higher revenue but weaker demand and rising costs squeezed profits, with store reshuffles and a Malawi disposal weighing on earnings. Energy Regulation: Botswana’s BERA issued a 3-month ultimatum to fuel stations to fix serious compliance gaps (spill containment, leak monitoring, procedures, training and PPE) or face licence action. Mining & Equipment: Epiroc won a major underground machinery order for MMG’s Khoemacau copper mine in Botswana, supporting expansion with Smart-series rigs and loaders. Insurance Growth Bet: Continental Re raised P2.13bn (about US$155m) to grow insurance coverage across Africa, targeting underinsured markets with new products and tech upgrades. Business & Trade: Shoprite’s Vida e Caffè acquisition (and related deal) signals continued expansion in coffee and QSR formats across the region, including Botswana. Governance & Economy (Regional): Zambia’s Hichilema was sworn in for a second term, pledging a shift from stabilisation to growth across mining, agriculture and energy.

Mining Equipment Deal: Epiroc has secured a large underground machinery order from MMG for the expansion of Khoemacau copper mine in Botswana, including drilling rigs, loaders and mine trucks, with deliveries starting Q4 2026 and support services included. Energy Infrastructure: Zimbabwe and Mozambique are set to launch the second phase of the Beira-Feruka pipeline expansion, boosting annual pumping capacity from 3m to 5m cubic metres and strengthening fuel supply across SADC, including Botswana. Digital Investment: WIOCC won a combined $300m investment from Africa Finance Corporation and Vision Invest to expand fibre, data centres and subsea assets across Africa, with Botswana Fibre Networks among its shareholders. Banking Outlook: First National Bank Botswana (FNBB) projects profit before tax growth of 10–15% to as much as P235m for FY ending June 30, 2026, supported by digital banking momentum. Business Sentiment: A Bank of Botswana survey shows firms remain cautious but expect improvement from late 2026 into mid-2027, with borrowing costs and fiscal constraints still weighing on activity. Consumer & Safety: Ford’s South Africa recall of 2,275 Ranger Double Cabs over a side-curtain airbag risk also affects 24 vehicles sold in Botswana. Cyber Risk: Hungry Lion customer credentials were reportedly exposed for months, highlighting ongoing online security weaknesses in the region.

Mining & Equipment: Epiroc has won a large underground machinery order worth about SEK 610 million for MMG’s Khoemacau copper mine expansion in Botswana, with deliveries starting Q4 2026 and support including remote-control solutions, spares and on-site service. Industrialisation & Steel: Galvanising Botswana is pushing a steel-processing push in Mmamashia, targeting about 100,000 tonnes of steel a year to cut reliance on imported steel and feed mining, construction, agriculture and energy projects. Digital Infrastructure & Finance: WIOCC secured a combined $300m investment from Africa Finance Corporation and Vision Invest to expand open-access digital infrastructure across Africa, with Botswana Fibre Networks (BoFiNet) among its shareholders. Cybersecurity: Hungry Lion says customer credentials were exposed for months, with researchers pointing to compromised accounts tied to online portals and claiming data exposure across multiple countries including Botswana. Banking Outlook: First National Bank Botswana (FNBB) projects profit before tax rising by 10–15% to as much as P235m, as it leans further into digital banking and grows its customer base. Business Sentiment: A Bank of Botswana survey shows firms are cautious but slightly more optimistic into mid-2027, with borrowing costs and fiscal constraints still weighing on operations. Inflation Watch: Bank of Botswana Governor Lesego Moseki warns businesses and households to brace for persistent inflation from fuel and electricity costs, livestock movement restrictions and global geopolitical pressures. Safety & Recall: South Africa’s National Consumer Commission flagged a Ford Ranger double-cab airbag-related recall affecting 2,275 vehicles, with 24 sold in Botswana. Mining Inclusion: Women miners in SADC are calling for all-gender inclusivity in artisanal and small-scale mining, pushing for better access to finance, safety, training and formalisation.

Botswana policy & business climate: Bank of Botswana Governor Lesego Moseki warned firms and households to brace for persistent inflation as fuel and electricity costs, livestock movement limits from foot-and-mouth disease, and global geopolitical shocks keep prices elevated, while the policy rate stays at 5.5%. Business confidence: A Bank of Botswana survey found companies—especially in construction, quarrying, retail, transport and communication—are worried about higher borrowing costs and tighter collateral requirements. Energy & industry: Eskom says it wants to revive industrial demand, including a possible return of Mozambique’s Mozal aluminium smelter, while also pushing more electricity exports using surplus generation. Regulation for growth: BOMRA is consulting stakeholders on rules to make Botswana’s new Medicines and Related Substances Act operational, aiming for a system trading partners can recognise. Creative economy: UNESCO and Botswana’s arts ministry mapped the digital environment for the cultural and creative industries, flagging gaps in skills, market access, financing and sector data. Local infrastructure & services: Botswana’s government reported progress on social protection and supplier arrears, but admitted key promises like pension and student allowance levels remain short. Transport & governance: Former transport minister Noah Salakae faces corruption and money-laundering charges over alleged kickbacks tied to road construction tenders. Consumer safety: Ford Ranger double-cab recalls over side-airbag issues were reported as affecting vehicles exported to Botswana, urging owners to check and get free repairs.