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Focus On US-Africa Business Summit 2024

CSS 2024: 4th Africa Finance Corporation Country & Stakeholder Symposium

Botswana: The Diamond of Africa

GABORONE, May 16 (Reuters)&nbsp;&#8211;&nbsp;Botswana, Africa&#8217;s top diamond producer, sees a prolonged ban on Russian diamonds opening the way for synthetic gems to expand market share, the country&#8217;s minister told a mining conference on Monday.



The United States, the world largest market for natural diamonds, imposed sanctions on Russia&#8217;s state-controlled Alrosa&nbsp;ALRS.MM&nbsp;in April, aiming to cut off a source of revenue for Moscow after its February invasion of Ukraine.<a href="https://www.reutersconnect.com/all?search=all%3AL5N2W61HG&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Alrosa, the world&#8217;s largest producer of rough diamonds, accounted for about 30% of global output in 2021.



Botswana&#8217;s Minister of Minerals and Energy Lefoko Moagi said the ban on Russia diamonds might push prices up to the benefit of rival producers but he also said the gap would be hard to fill.



&#8220;We see the 30% gap that will be left by the ban being plugged by something else that is not natural. And for us that will be a challenge,&#8221; he said.



Jacob Thamage, head of Botswana&#8217;s Diamond Hub, said uncertainty over the Ukraine conflict makes it difficult for Botswana and other natural diamond miners to fill the supply gap as ramping up operations requires significant investment.



&#8220;You don&#8217;t want to invest a lot of money to up-scale and then the war ends the next day,&#8221; Thamage said. &#8220;We also see the higher prices pushing consumers to substitutes such as the synthetics and this can cause problems for us if we cede the market to unnatural stones.&#8221;



Sales at Debswana, a joint venture between Anglo American&nbsp;AAL.L&nbsp;unit De Beers and Botswana&#8217;s government, accounts for almost all of Botswana diamonds exports. These stood at $3.466 billion in 2021 compared with $2.120 billion in 2020.<a href="https://www.reutersconnect.com/all?search=all%3AL8N2UB4O2&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Thamage also fears that consumers might start to shun natural diamonds due to traceability issues.



&#8220;There is an increased fear that buyers of diamonds will begin to treat all natural diamonds as conflict diamonds and therefore shift to unnatural diamonds,&#8221; he said.



(Reporting by Brian Benza, Editing by Nelson Banya and Jane Merriman)

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Botswana sees Russian diamond ban opening door to synthetic gems

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Multinational conglomerate Matrix Petroleum is planning on setting up shop on South African soil. Matrix Petroleum is already doing business in Zimbabwe, eSwatini, Zambia, Botswana, Mozambique and DRC. Joining CNBC Africa to discuss this planned expansion in its portfolio is Malvin Chiwanga, CEO, Matrix Petroleum.

Matrix Petroleum expands into SA market

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers and does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.
African Union Member States (55) reporting COVID-19 cases (4,812,313), deaths (130,025) and recoveries (4,351,816) by region: Central (172,873 cases; 2,781 deaths; 159,001 recoveries): Burundi (4,650; 6; 4,198), Cameroon (77,982; 1,270; 72,926), CAR (7,085; 97; 6,665), Chad (4,927; 173; 4,742), Congo (11,658; 153; 10,591), DRC (31,386; 782; 27,654), Equatorial Guinea (8,476; 113; 8,146), Gabon (24,365; 150; 21,791), Sao Tome and Principe (2,344; 37; 2,288) Eastern (647,406; 12,678; 536,199): Comoros (3,949; 146; 3,719), Djibouti (11,523; 153; 11,354), Eritrea (4,022; 14; 3,812), Ethiopia (270,944; 4,139; 235,850), Kenya (170,041; 3,124; 116,018), Madagascar (41,184; 828; 40,028), Mauritius (1,356; 17; 1,181), Rwanda (26,878; 352; 25,542), Seychelles (11,145; 40; 9,936), Somalia (14,647; 768; 6,717), South Sudan (10,688; 115; 10,514), Sudan (35,289; 2,600; 27,949), Tanzania** (509; 21; 178), Uganda (45,231; 361; 43,401) Northern (1,453,109; 43,808; 1,276,107): Algeria (128,198; 3,586; 89,292), Egypt (259,540; 14,950; 190,254), Libya (184,815; 3,116; 171,279), Mauritania (19,407; 462; 18,377), Morocco (518,458; 9,135; 506,443), Sahrawi Arab Democratic Republic (739; 46; 691), Tunisia (341,952; 12,513; 299,771) Southern (2,066,519; 64,531; 1,933,721): Angola (33,607; 745; 27,529), Botswana (56,313; 831; 50,494), Eswatini (18,587; 672; 17,855), Lesotho (10,825; 326; 6,434), Malawi (34,323; 1,154; 32,598), Mozambique (70,697; 835; 69,232), Namibia (54,268; 807; 50,053), South Africa (1,654,551; 56,293; 1,551,520), Zambia (94,430; 1,275; 91,443), Zimbabwe (38,918; 1,593; 36,563) Western (472,406; 6,227; 446,788): Benin (8,058; 101; 7,893), Burkina Faso (13,424; 166; 13,248), Cabo Verde (30,122; 261; 28,163), Côte d&#39;Ivoire (47,195; 301; 46,591), Gambia (5,990; 178; 5,767), Ghana (93,775; 784; 91,853), Guinea (23,110; 161; 20,840), Guinea Bissau (3,760; 68; 3,511), Liberia (2,179; 86; 2,033), Mali (14,262; 516; 9,559), Niger (5,409; 192; 5,080), Nigeria (166,254; 2,071; 156,546), Senegal (41,296; 1,138; 39,932), Sierra Leone (4,140; 79; 3,128), Togo (13,432; 125; 12,644)Distributed by APO Group on behalf of Africa Centres for Disease Control and Prevention (Africa CDC).
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Coronavirus: African Union Member States reporting COVID-19 cases as of 29 May 2021, 9 am EAT

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers and does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.

This month, Botswana became the first country in Southern Africa, and the third in Africa, to pilot drone technology for health-care delivery. The Drones for Health pilot project aims to reduce preventable maternal deaths by delivering maternal health supplies and commodities – including essential obstetric care drugs, blood, blood products and laboratory specimens – particularly in hard-to-reach communities and health facilities.

UNFPA is partnering on the initiative, along with Botswana’s Ministry of Health and Wellness, the Ministry of Tertiary Education, Research, Science and Technology, and Botswana International University of Science and Technology (BIUST).
“Women experience massive blood loss due to haemorrhage during childbirth, with many of them requiring a blood transfusion,” said Beatrice Mutali, the UNFPA country director in Botswana, at the launch of the initiative. “Blood and blood-based products are therefore critical.”
Life-saving medicines
Botswana has a maternal mortality ratio that is almost double the average for upper-middle income countries – 144 per 100,000 live births according to 2017 UN data, or at 166 deaths per 100,000 live births according to 2019 government data. The main causes of maternal deaths in Botswana are postpartum haemorrhage, complications after abortion and hypertensive disorders during pregnancy.
To provide life-saving emergency obstetric care, health facilities must be equipped with the supplies and skills needed to handle such emergencies. Medication can effectively treat post-partum haemorrhageand hypertensive issues like eclampsia, for instance, but in this large and sparsely populated country, delivery of such medical supplies is often a challenge.
“The need to invest in innovative options to bridge the long distances, reduce current transportation costs, overcome road infrastructure challenges, and improve timely availability of essential emergency obstetric care drugs, commodities and supplies is therefore urgent,” said Dr. Edwin Gorataone Dikoloti, Botswana’s Minister of Health and Wellness.
“The sustainable reduction of maternal, newborn and child deaths and overall improvement of health care in general, including sexual, reproductive and adolescent health, remains a high priority for the Government of Botswana,” said Dr. Dikoloti.
Slashing delivery times
The use of drones to deliver essential medical supplies is expected to reduce the delivery time from hours to minutes, meaning that obstetric emergency supplies could arrive in time to save lives, according to BIUST Vice Chancellor, Professor Otlogetswe Totolo.
Each battery-powered drone has a delivery distance of 100 km and can carry cargo with a weight of up to 2kg at a time.
Four villages were involved in the pilot project: Lecheng, 32 km from Palapye by road and 11 km via drone; Mokgware, with a distance of 55 km by road and 32 km by drone; Mogapi, 108 km away by road and 75 km via drone; and Moremi, 75 km away by road and 36 km via drone.
Community members in the pilot areas have supported the project by building landing pads at designated health posts. UNFPA provided seed funding for the project. Successful test runs have been carried out in all four targeted villages, with the drones delivering dummy specimens.
Transforming health care
The Drones for Health initiative, which was conceived in 2018, is being implemented in three phases. Phases I and II are dedicated to proof-of-concept and viability testing.
Following a successful rollout, Phase III will involve the development of the business model, identify sustainable partnerships, and the scale up and transfer of innovation solutions to the Ministry of Wellness and Health.
“Technology and digitally driven solutions have the potential to transform health care, particularly for women and girls in underserved communities, often left behind due to geographical proximity…as they live in hard-to-reach areas,” said Ms. Mutali.

Distributed by APO Group on behalf of United Nations Population Fund (UNFPA).
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Piloting drones to deliver life-saving products for women in rural Botswana

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The Bank of Botswana’s Monetary Policy Committee held its bank rate unchanged at 3.75 per cent based on the need for sustained support to the economy while in Kenya, Headline inflation eased to 5.8 per cent year on year in April. Joining CNBC Africa for more is Ridle Markus, Africa Strategist at ABSA Corporate and Investment Banking.

Bank of Botswana keeps rates unchanged

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Last week, Moody&#8217;s downgraded Botswana&#8217;s long-term local and foreign currency issuer ratings to A3 from A2 and changed the outlook to stable from negative. The ratings agency however, says that Botswana&#8217;s credit profile continues to be supported by robust fiscal metrics, in particular a low debt level and high debt affordability. Joining CNBC Africa to unpack the drivers of that downgrade and the outlook is Daniela Re Fraschini, an Analyst at Moody’s.

Moody’s downgrades Botswana’s ratings to A3

Moody’s downgrades Botswana’s ratings to A3, with stable outlook

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Nigeria’s official unemployment rate surged to 33.3 per cent in Q4 2020 and neighbouring Botswana had a slight jump in Inflation with their rate now at 2.4 per cent. Ridle Markus, Africa Strategist at Absa Corporate &#038; Investment Banking joins CNBC Africa for more.

Nigeria’s unemployment rate surges to 33.3%

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Namibia’s second quarter GDP contracted by 11.1 per cent, this was in line with market expectations despite a surge in activity in its Agriculture sector. A slew of African countries will also release GDP numbers this week with eyes on Kenya, Botswana and Mauritius. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.

Namibia’s second quarter GDP contracts by 11.1%

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Global ratings S&#038;P has revised Botswana’s outlook to negative from stable due to the higher pressures on Botswana’s economic, external and fiscal performance over the next two years considering the covid-19 crisis and the impact on diamond exports. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.

S&P revises Botswana’s outlook to negative from stable

GABORONE, Botswana (Reuters) &#8211; The Botswana government said there was no guarantee that it would be able to renew a new 10-year sales agreement with De Beers before the end of December, when the current one expires, as the coronavirus pandemic has delayed negotiations.



“The ideal situation would be to end the talks by December but there are no guarantees that will happen,” said Mmetla Masire, Permanent Secretary in the Ministry of Minerals told Reuters in an interview late on Monday.



The deal is necessary for the Debswana Mining Company, jointly held by the world’s biggest producer De Beers and the Botswana government, as it provides the country with around two-thirds of its foreign exchange and makes up a fifth of its GDP.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="910" height="569" src="https://www.cnbcafrica.com/wp-content/uploads/2020/08/diamonds-black-background.jpg" alt="" class="wp-image-378169" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/08/diamonds-black-background.jpg 910w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/diamonds-black-background-300x188.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/diamonds-black-background-820x513.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/diamonds-black-background-768x480.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/diamonds-black-background-696x435.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/diamonds-black-background-600x375.jpg 600w" sizes="(max-width: 910px) 100vw, 910px" /></figure>



For De Beers, a new deal would mean another 10 years of clarity on the terms of its revenue stream from a country from where it sources 70% of its diamonds and 90% of its sales.



The wealth from diamond mining has helped transform the country from primarily a agri-based economy to one of Africa’s richest countries.



A delay would set back President Mokgweetsi Masisi’s efforts to boost a fledgling diamond polishing and cutting industry and create jobs in a country of 2.2 million with high unemployment.



Masire said the government had resumed talks for a new deal, but travel restrictions have kept the progress slow.



In 2011, De Beers agreed a deal to transfer its global sightholder sales, which accounts for 90% of its total diamond sales, from London to Gaborone, creating thousands of jobs and investment in the southern African country.



Botswana’s government would want a higher allocation of diamonds produced by Debswana for sale from the current 15% agreed in 2011, or get a larger share of rough stones, said Avi Krawitz, an analyst from Israel-based diamond information provider Rapaport.



“This will be a sticking point for De Beers,” he said.



Masire declined to divulge specific terms being negotiated in the talks.



De Beers, a subsidiary of Anglo American Plc, is an important business division for its parent contributing a fifth of its revenue. De Beers has not responded to an emailed request for comment sent on Monday.

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Botswana government says no guarantee on De Beers sales deal by end-2020

The so-called “Butterfly” spy case took another turn with the release of a new independent report, in London, pouring cold water on allegations of money laundering to fund terrorism in Botswana. In supporting the report, former Botswana president Ian Khama castigated the people running his country and calling the allegation the “height of stupidity and irresponsibility.”



The “Butterfly” case took its name from the code name of the intelligence officer at the centre of the story that has been the talk of southern Africa for months. It surrounds allegations that 46-year-old Botswana intelligence officer Welheminah Maswabi took part in money laundering of $10 Billion through the Bank of Botswana and string of commercial banks around the world.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="427" height="640" src="https://www.cnbcafrica.com/wp-content/uploads/2020/08/Portrait-2020-July-B-Motsepe0498-1.jpeg" alt="" class="wp-image-379463" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Portrait-2020-July-B-Motsepe0498-1.jpeg 427w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Portrait-2020-July-B-Motsepe0498-1-200x300.jpeg 200w" sizes="(max-width: 427px) 100vw, 427px" /></figure>



The State alleges that the money was to fund unrest and political opposition in Botswana against President Mokgweetsi Masisi– also linking it to South African businesswoman Bridgette Radebe and former President Khama.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="960" height="540" src="https://www.cnbcafrica.com/wp-content/uploads/2020/01/1571595826001_6125252469001_6125248508001-vs.jpg" alt="" class="wp-image-353966" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/01/1571595826001_6125252469001_6125248508001-vs.jpg 960w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/1571595826001_6125252469001_6125248508001-vs-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/1571595826001_6125252469001_6125248508001-vs-820x461.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/1571595826001_6125252469001_6125248508001-vs-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/1571595826001_6125252469001_6125248508001-vs-696x392.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/1571595826001_6125252469001_6125248508001-vs-747x420.jpg 747w" sizes="(max-width: 960px) 100vw, 960px" /><figcaption>World Economic Forum: Botswana’s Mokgweetsi Masisi on why the youth</figcaption></figure>



“It is unfortunately a day of shame and a sad day for our country. It has damaged our reputation as a clean democracy,” says Khama.



“The regime here has engaged in perjury&#8230;Their clear criminal intent has now been exposed our reputation for clean government has been tarnished…This is the height of stupidity and irresponsibility by falsely accusing people… I fully expect them (the Botswana government) to rubbish it (the report), they have been doing so as this press conference was coming and that shows the mentality of the regime.”



CNBC Africa made numerous attempts to contact the president’s office in Gaborone, to no avail.



The State &nbsp;is building a case against Maswabi around charges of money laundering to finance terrorism in Botswana – a country famed in Africa for its peaceful stability. Her lawyer Uyapo Ndadi told CNBC Africa that the case against Maswabi was based on trumped up charges and she was due back in court in November. &nbsp;



The case is being built around an affidavit from Jako Hubona, an investigator with Botswana’s Directorate of Economic Crime and Corruption Unit. He claimed that Khama and Motsepe took part in money laundering through a flow of illicit funds out of government accounts at the Bank of Botswana , via a number international financial institutions, to a variety of South African and offshore accounts.



The new independent investigation released in London, commissioned by Motsepe and conducted by lawyer Cherie Blair, refutes these allegations.&nbsp; It says that the affidavit does not have a shred of evidence and claims it is based on fabrication. Blair, the wife of former British premier Tony Blair, said the allegations against Motsepe – the sister of billionaire Patrice Motsepe- and Khama &nbsp;were baseless.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="480" height="360" src="https://www.cnbcafrica.com/wp-content/uploads/2020/08/hqdefault-74.jpg" alt="" class="wp-image-379434" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/08/hqdefault-74.jpg 480w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/hqdefault-74-300x225.jpg 300w" sizes="(max-width: 480px) 100vw, 480px" /><figcaption>Report vindicates Bridgette Motsepe and Ian Khama of money laundering allegations</figcaption></figure>



“For a start 10 billion dollars is about half of Botswana’s GDP and we found no evidence that such money had been transferred at all from the Bank of Botswana at all,” Blair told CNBC Africa. &nbsp;&nbsp;&nbsp;

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Anger from former President Ian Khama as Botswana’s butterfly spy case takes another turn.

GABORONE, Botswana (Reuters) &#8211; Trading in shares of budget retailer Choppies resumed on the Botswana Stock Exchange (BSE) on Monday after a 20-month suspension following the company’s failure to publish its financial results.



Choppies saw its shares plunge by more than 60% in September 2018 after delaying publication of its financial statements, leading to their suspension on both the local bourse and the Johannesburg Stock Exchange (JSE) where it has a secondary listing.



The results were delayed after the company’s newly appointed auditors PricewaterhouseCoopers (PwC) raised concerns with the board over accounting practices.



“The company has now published all its financials up to December 2019 bringing it into compliance with the stock exchange requirements,” the BSE said in a statement.



The resumption also follows publication on July 23 of an auditors’ report into allegations of fraud within the group which found any court action over those allegations was unlikely to succeed.



Trading in Choppies shares resumed at 0.69 pula per share, in line with their suspension price. Some 797,000 shares were traded in the opening auction.



As part of plans to consolidate its business and focus on more profitable subsidiaries, Choppies &#8211; Botswana’s biggest retailer &#8211; has since exited the South African and Mozambican markets.



The company is also divesting operations in Tanzania and Kenya, Chief Executive Ramachandran Ottapathu told Reuters on Monday, but will continue operating in Botswana, Zimbabwe, Zambia and Namibia.



“We are hoping the JSE will soon lift the suspension &#8230; they have to follow what has happened in the primary market,” Ottapathu said.



In the half-year to December 2019, Choppies’ group revenue fell by 17.5% to 2.9 billion pula due to a weakening currency in Zimbabwe against the Pula, the company said in its results released on Friday. It made a 204.7 million pula ($18 million) loss on discontinued operations.



Its gross profit margin for the half-year ended December 2019 improved to 22.9% from 22.5% a year before, reflecting a good performance in the local market.



($1 = 11.4286 pulas)

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Botswana retailer Choppies stock resumes trading after 20-month suspension

GABORONE (Reuters) &#8211; Botswana will ration fuel from Thursday, President Mokgweetsi Masisi announced, in a bid to ease a crippling shortage that has seen some consumers rush to stock up.



Long queues formed in recent weeks at fuel stations in Botswana’s capital, Gaborone, as some ran dry. The shortages have disrupted businesses and threaten to exacerbate the woes of an economy already expected to shrink 13% this year.



Mokgweetsi said in a televised address that sales will be limited to the value of 250 pula ($21.40) worth of fuel, though the limit would not apply to front-line workers and public transport operators.



“We have also started to import fuel through Namibia and Mozambique to complement supplies from South Africa, where there are disruptions in the transportation industry,” he said, adding the government did not want strategic reserves to fall to below five days’ supply, from eight days’ currently.



The southern African country, which consumes about 3.3 million litres a day, normally keeps reserves at 12 days’ supply.



It has lifted a lockdown imposed to contain the coronavirus but its borders remain closed, with only essential imports allowed and truckers tested for the virus and quarantined before they enter.



($1 = 11.6822 pulas)

Word Investment Forum 2018

Botswana to ration fuel amid shortage

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Mauritius released its first quarter GDP numbers today, reporting a 2 per cent year on year contraction in economic activity. The weak performance in the first quarter was driven largely by contractions in agriculture, construction and wholesale and retail trade sectors. Botswana and South Africa also release GDP data this week and joining CNBC Africa for more is Ridle Markus, Africa Strategist at ABSA Corporate and Investment Banking.

Botswana

Focus On US-Africa Business Summit 2024

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Botswana: The Diamond of Africa

Botswana sees Russian diamond ban opening door to synthetic gems

Matrix Petroleum expands into SA market

Coronavirus: African Union Member States reporting COVID-19 cases as of 29 May 2021, 9 am EAT

Piloting drones to deliver life-saving products for women in rural Botswana

Bank of Botswana keeps rates unchanged

Moody’s downgrades Botswana’s ratings to A3, with stable outlook

Nigeria’s unemployment rate surges to 33.3%

Namibia’s second quarter GDP contracts by 11.1%

S&P revises Botswana’s outlook to negative from stable

Botswana government says no guarantee on De Beers sales deal by end-2020

Anger from former President Ian Khama as Botswana’s butterfly spy case takes another turn.

Botswana retailer Choppies stock resumes trading after 20-month suspension

Botswana to ration fuel amid shortage

Mauritian economy contracts 2% in Q1 on COVID-19 headwinds

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Botswana

Focus On US-Africa Business Summit 2024

CSS 2024: 4th Africa Finance Corporation Country & Stakeholder Symposium

Botswana: The Diamond of Africa

Botswana sees Russian diamond ban opening door to synthetic gems

Matrix Petroleum expands into SA market

Coronavirus: African Union Member States reporting COVID-19 cases as of 29 May 2021, 9 am EAT

Piloting drones to deliver life-saving products for women in rural Botswana

Bank of Botswana keeps rates unchanged

Moody’s downgrades Botswana’s ratings to A3, with stable outlook

Nigeria’s unemployment rate surges to 33.3%

Namibia’s second quarter GDP contracts by 11.1%

S&P revises Botswana’s outlook to negative from stable

Botswana government says no guarantee on De Beers sales deal by end-2020

Anger from former President Ian Khama as Botswana’s butterfly spy case takes another turn.

Botswana retailer Choppies stock resumes trading after 20-month suspension

Botswana to ration fuel amid shortage

Mauritian economy contracts 2% in Q1 on COVID-19 headwinds

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